The Rise Of Centibillionaires: A Look At Wealth In 2020

If you traveled back in time just seven little months, there were only TWO people on the planet who had net worths that topped $200 billion. Those two people were Bill Gates – with a net worth of $120 billion – and Jeff Bezos – with a net worth of $190 billion. If you traveled back just a few years, less than a decade, no single human had ever controlled more than $100 billion in non-inflation-adjusted wealth.

In August 2020, TWO new people joined the "centibillionaires" club. On August 7, Mark Zuckerberg joined the club for the first time. Just a few weeks later, on August 26, Elon Musk entered the ranks as well. By December, Elon’s net worth soared to $200 billion, eventually overtaking Jeff Bezos as the richest person in the world.

Today, there are EIGHT centibillionaires walking the planet. This is unprecedented; never before in history have there been so many individuals with personal fortunes exceeding $100 billion. This significant increase in wealth raises questions about economic dynamics, wealth distribution, and the implications of such wealth on society.

The New Members of the Centibillionaires Club

In addition to Mark Zuckerberg and Elon Musk, the centibillionaires club also includes well-known figures like Jeff Bezos, Bill Gates, Warren Buffett, and Bernard Arnault. Interestingly, both Warren and Bernard have fluctuated in and out of membership over the past two years due to changes in their net worth. However, Warren Buffett deserves permanent membership, having donated over $40 billion to charity throughout his life.

Recently, two new entrants gained their status for the first time: Larry Page and Sergey Brin, the co-founders of Google. As of now, Larry Page's net worth stands at $104 billion, placing him as the sixth-richest person globally, while Sergey Brin, with a net worth of $100 billion, ranks eighth.

Why is Larry Page Slightly Richer than Sergey Brin?

According to Alphabet's latest SEC filing, Larry Page owns 6% of the company, while Sergey Brin owns 5%. Over the years, both founders have sold billions in Google shares, with Larry having sold around $9 billion and Sergey about $8 billion. The significant increase in Google’s stock value since it went public in 2004—initially priced at $85 per share and recently closing at an all-time high of $2,285—also contributes to their wealth.

The World's 8 Centibillionaires

The current list of the world's centibillionaires is as follows:

• #8: Sergey Brin – $100 billion
• #7: Warren Buffett – $101 billion
• #6: Larry Page – $104 billion
• #5: Mark Zuckerberg – $118 billion
• #4: Bernard Arnault – $132 billion
• #3: Bill Gates – $144 billion
• #2: Elon Musk – $176 billion
• #1: Jeff Bezos – $197 billion

The rise of these individuals into the centibillionaire club showcases not only their personal success but also the changing landscape of wealth in our society. As technology continues to evolve and markets fluctuate, the dynamics of wealth creation and distribution will undoubtedly remain a hot topic of discussion.