War, pandemic and plunging stock markets have dented the fortunes of many of the richest people on the planet this year. Forbes found 2,668 billionaires around the globe for the 2022 World’s Billionaires list, down from a record 2,755 last year. Collectively, they’re worth $12.7 trillion, down from a record $13.1 trillion on the 2021 list.
In all, 329 people fell off the billionaires list this year–the most since the 2009 financial crisis. That includes 169 “one-year wonders”, newcomers to the 2021 ranking, including Bumble’s Whitney Wolfe Herd and Peloton’s John Foley, who debuted a year ago and have already dropped from the list.
Still, 236 newcomers joined the ranks this year, including pop star Rihanna, Lord of the Rings director Peter Jackson and venture capitalist Josh Kushner. Barbados, Bulgaria, Estonia and Uruguay each gained their first billionaires ever. And, despite the volatile year, 1,050 billionaires are wealthier than they were a year ago.
Big losses came in Russia and China. Vladimir Putin’s invasion of Ukraine–and the avalanche of sanctions that followed–sent the Russian stock market and the ruble plummeting, resulting in 34 fewer Russian billionaires on the list. The fortunes of the 83 Russians who held onto their billionaire status nearly all stagnated or declined from a year ago. Total Russian billionaire wealth fell by more than $260 billion, by our count, from $584 billion last year to $320 billion this year. China’s super-rich didn’t fare much better, with 87 fewer Chinese citizens on the 2022 list amid a government crackdown on tech companies, weaker stocks and trouble in the real estate sector. In total, China’s billionaires are some $500 billion poorer than a year ago, worth $1.96 trillion, compared to $2.5 trillion in 2021.
Read the full story on Forbes: https://www.forbes.com/billionaires/
Subscribe to FORBES: https://www.youtube.com/user/Forbes?sub_confirmation=1
Forbes newsletters: https://newsletters.editorial.forbes.com
Forbes on Facebook: http://fb.com/forbes
Forbes Video on Twitter: http://www.twitter.com/forbes
Forbes Video on Instagram: http://instagram.com/forbes
More From Forbes: http://forbes.com
Forbes covers the intersection of entrepreneurship, wealth, technology, business and lifestyle with a focus on people and success.