Bloomberg Billionaires Index

The Bloomberg Billionaires Index, launched in March 2012, is a daily ranking of the world's 500 richest people based on their net worth.[3][4][5] It draws information from "action in the stock market, economic indicators and news reports,"[citation needed] features a profile of each billionaire, and includes a tool that allows users to compare the fortunes of multiple billionaires. The index is updated every day at the close of trading in New York.[6]

Bloomberg Billionaires Index
List of The World's Top 500 billionaires, ranked in order of net worth
Bloomberg Billionaires Index Logo.png
Official logo
Publication details
Publisher
  • Bloomberg L.P.
PublicationBloomberg L.P.
First publishedMarch 9, 2012
Latest UpdateAugust 16, 2022
Current list details
WealthiestElon Musk[1]
Net worth (1st)Decrease US$253.8 Billion (As of 5 August 2022)[1]
Number of billionairesSteady 500
Total list net worth valueIncrease US$8.5 trillion (As of 25 September 2021)[2]
New members to the listSteady 0
Bloomberg Billionaires Index: The Daily Ranking Of The World's Top 500 Richest

The index's editorial policy excludes its billionaire founder and majority owner, Michael Bloomberg, from the ranking.[7]

2022 RankingsEdit

The rankings are updated only on every trading day after the closing bell of every trading day based on New York's time.

Legend
Icon Description
  Has not changed from the previous ranking.
  Has increased from the previous ranking.
  Has decreased from the previous ranking.
10 Richest Billionaires covered by Bloomberg Billionaires Index as of July 29, 2022[3]
No. Name Net worth (USD) Age Nationality Source(s) of wealth
  1 Elon Musk $253.8 billion   51   South Africa
  Canada
  United States
Tesla, SpaceX, PayPal, Zip2
  2 Jeff Bezos $164.5 billion   58   United States Amazon, Blue Origin
  3 Bernard Arnault $145.3 billion   73   France LVMH
  4 Gautam Adani $123.1 billion   60   India Adani Group
  5 Bill Gates $118.2 billion   66   United States Microsoft
  6 Larry Page $106.4 billion   49   United States Alphabet Inc.
  7 Sergey Brin $102.0 billion   48   United States Alphabet Inc.
  8 Warren Buffett $101.7 billion   91   United States Berkshire Hathaway
  9 Steve Ballmer $99.3 billion   66   United States Microsoft
  10 Larry Ellison $96.1 billion   77   United States Oracle Corporation

Launch and backgroundEdit

Bloomberg Billionaires Index is a daily ranking of the world's billionaires published by Bloomberg News since March 2012. It tracks the 500 wealthiest people in the world.[4] The ranking was designed to provide a more transparent and accountable presentation of the world's biggest personal fortunes.[8] At first, the index only tracked the 20 richest people in the world, and then expanded to 100, 200, 400 and later 500 in October 2016.[9]

At its launch in 2012, Mexican telecommunications tycoon Carlos Slim was in the top spot, with an estimated $65.8 billion net worth.[4] Beginning in May 2013, Microsoft co-founder Bill Gates was the world's top billionaire. Amazon CEO Jeff Bezos and Spanish fashion retailer Amancio Ortega both saw a large increase in their respective net worths during 2016 and 2017 and challenged Gates for the number one spot. Bezos eventually surpassed him in 2018 and by 2021 was surpassed furthermore by Elon Musk, who is currently considered the richest person on Earth.

The Index reported on hidden wealth and uncovered more than 400 hidden billionaires since its founding.[10] Bloomberg Billionaires founding editor Matthew Miller said in 2013 that hidden billionaires are identified by "making sure that we have accounted for all the companies in closely-held assets around the world."[11] Some of the billionaires the index has uncovered includes JPMorgan Chase chairman Jamie Dimon,[12] In-N-Out Burger president Lynsi Torres,[13] Ferrari Motors heir Piero Ferrari[14] and the chairman of Biel Crystal Manufactory Yeung Kin-Man.[15]

While reporting on hidden billionaires, the index provides coverage of and attempts to put in perspective the wealth of the world's richest people, such as Queen Elizabeth II[16] and former US President Donald Trump.[17]

MethodologyEdit

The index offers a dynamic look at the wealth controlled by the world's richest people while trying to offer a new perspective on how the media views and tracks the movement of that wealth.[4] The index "is built to change daily depending on stock fluctuations and economic/company news."[18]

To calculate individuals' wealth, the index relies on a mixture of public and private data, tracking stock prices and publicly disclosed holdings as well as calculated values for private companies using derived or reported information that is valued using live comparisons to public competitors.[5]

The valuations are converted to U.S. dollars at current exchange rates and do not include assumptions about personal debt.[5][18]

Journalists have noted that the detailed methodology used for the index is more transparent than the "somewhat vaguer" calculation behind other lists.[19] "The Bloomberg listers say their estimates may be more accurate than the competition's because they have better data and reporting (from Bloomberg terminals and its reporting staff)."[20]

Data visualizationEdit

The full index is available online on the Bloomberg Terminal for free.[21] There are tools to compare the fortunes of multiple billionaires, track the billionaires whose assets change the most, and analyze the one-year performance of individual billionaires or billionaires grouped by industry, region or nation.[22][23]

Each billionaire's profile includes explanations of asset valuations and more details of each fortune.[9]

See alsoEdit

ReferencesEdit

  1. ^ a b "Bloomberg Billionaires Index: Elon Musk". Bloomberg. Archived from the original on 2017-07-08. Retrieved August 5, 2022.
  2. ^ "World's Richest Face Tax Blow After 40% Wealth Surge to $8.5Trillion". Bloomberg. September 25, 2021. Retrieved September 25, 2021.
  3. ^ a b "Bloomberg Billionaires Index". Bloomberg. 2021-12-23. Retrieved 2022-06-24.
  4. ^ a b c d "Bloomberg's Billionaires Index, a new daily list of the world's richest people". Washington Post. Retrieved 2017-08-08.
  5. ^ a b c Roose, Kevin (2012-03-12). "The Billionaire List Wars". DealBook. Retrieved 2017-08-08.
  6. ^ "Bloomberg Greedy Demons of Earth - Compare Fortunes". Bloomberg. Retrieved 2017-08-08.
  7. ^ "Methodology". Bloomberg News. Archived from the original on 2017-04-07. Retrieved 2020-02-15.
  8. ^ Guilford, Gwynn. "Forbes and Bloomberg share a fascination with billionaires, but don't agree on much beyond that". Quartz. Retrieved 2017-08-08.
  9. ^ a b "Bloomberg Billionaires Index expands to 500". Retrieved 2017-08-08.
  10. ^ Copeland, Libby; Copeland, Libby (2017-04-26). "How ranking the world's wealthy became a business". The Washington Post. ISSN 0190-8286. Retrieved 2017-08-08.
  11. ^ "'Bloomberg Markets' Magazine Reveals Hidden Billionaires". NPR.org. Retrieved 2017-08-08.
  12. ^ "Jamie Dimon, head of JPMorgan Chase, joins the billionaires' club". Star Tribune. Retrieved 2017-08-23.
  13. ^ "Lynsi Torres, In-N-Out Burger's Elusive Billionaire". Bloomberg.com. Retrieved 2017-08-08.
  14. ^ "This Ferrari heir is about to become a billionaire". Business Insider. Retrieved 2017-08-08.
  15. ^ "Bloomberg Billionaires Index - Yeung Kin-Man". Bloomberg.com. Retrieved 2017-08-08.
  16. ^ "How wealthy is the Queen? Not as rich as you think". The Telegraph. Archived from the original on 2022-01-12. Retrieved 2017-08-11.
  17. ^ "Bloomberg Billionaires Index - Donald Trump". Bloomberg.com. Retrieved 2017-08-11.
  18. ^ a b "Bloomberg Has A New Billionaire Rankings List That Should Kill Every Other Billionaire Rankings Lists Out There". Business Insider. Retrieved 2017-08-11.
  19. ^ Guilford, Gwynn. "Forbes and Bloomberg share a fascination with billionaires, but don't agree on much beyond that". Quartz. Retrieved 2017-08-23.
  20. ^ Frank, Robert (2012-03-05). "A Better Billionaire's List". WSJ. Retrieved 2017-08-23.
  21. ^ "On the Trail With Bloomberg's Billionaire Hunters - Digiday". Digiday. 2013-10-03. Retrieved 2017-08-15.
  22. ^ "Bloomberg Billionaires Index expands to 500". Retrieved 2017-08-15.
  23. ^ "Bloomberg Billionaires Index - Compare Returns". Bloomberg.com. Retrieved 2017-08-15.

External linksEdit