In 2017, Amazon.com Inc.’s Jeff Bezos was the first to hit the $100 billion milestone since Microsoft Corp. co-founder Bill Gates back in 1999. Gates’s wealth then slumped with the dot-com bubble burst, and he regained the title of centibillionaire only in 2019. Tesla Inc.’s Elon Musk and Facebook Inc.’s Mark Zuckerberg joined the club last year as the tech industry led a boost in wealth creation with the coronavirus pandemic accelerating a switch to online. Billionaires with wealth of at least $100 billion are mostly U.S.-based. Democratic Senator Elizabeth Warren and other progressive lawmakers recently revived plans to introduce a wealth tax, though the proposal is unlikely to go anywhere in a narrowly divided Congress.
Warren Buffett briefly reached the $100 billion mark in March before hitting it again last week, while Bernard Arnault of France’s luxury group LVMH has been part of the elite group on and off since 2019.
Source: FXPro