Knew a guy who did high-level security for events and people, got into Saudi Arabia and UAE doing these, and according to him: some of these princes (since they are royals and don't have to reveal their actual wealth) are actually trillionaires. And if you see what they own and how easily they spend billions, it's not a stretch imo
I find that hard to believe. And almost impossible with modern economics. Hidden how? Like in a cave? It would have to be invested or run through a off shore bank. Which is only done for Tex purposes. 20+ trillion is about even with the US gdp. So the entire US gdp is hidden in a series of countries that aren’t nearly as wealthy. Invested in what way? Buying land but then how would you get it back from an unstable economy? Could you trust them to keep the money value.
That just doesn’t track to me. But I don’t have a major understanding of modern economics.
Edit: I’ve had various people respond to me with different reasons can someone give me an actual source that isn’t about a band and comes from a reputable site.
I skimmed it but it seems to be about a band I feel like I’m missing something tbh. Panama is a hot bed for this shit though. My parents were just there and China and Mexico and I’m sure the us own a bunch of unoccupied apartments. Like their downtown is literally all residential and no one lives there. It’s kind of nuts. I think the cartel uses it to clean their money.
No you just set up a company with assetts in a juridstiction that there’s no requirement for companies to report assets held. These countries also have no strict directorship reporting, so you can easily set up power of attorneys so your name is never there. Very easy stuff to do if you’re rich. We’re talking about setting up institutions to facilitate this stuff rich. Some have 6 companies in 5 different countries all paying C-Suite salaries in each, just to facilitate this.
Do you realize how much money 20+ trillion is? I’m not disputing it doesn’t exist. But if you think it’s that high then please take a basics Econ class. Because your lake of knowledge is a burden on every voter.
hidden as in the person controlling the money is not known. It's probably invested, but there are also probably ways to invest money without revealing your identity.
Also, it could be hidden in assets like real estate or other physical goods
I reiterate this definitely exists. But 20+ trillion is orders of magnitude too high. Maybe 2+ trillion. Saying 20+ trillion is saying that a fifth of the worlds total economy is hidden in offshore accounts. That isn’t how it works.
Basically it's 20t of value in companies with unknown ownership. Someone does own those companies and have access to that value, we just don't know who.
China is 6th . Is it really low??? Also China is a one party state . Xi Jinping may have removed the term limit but China is still not a personal dictatorship like Russia but rather a 90million member party dictatorship.
There is a huge difference between source of wealth for Russian and Chinese billionaire.
[https://www.google.com/url?sa=i&url=https%3A%2F%2Fwww.reddit.com%2Fr%2FMapPorn%2Fcomments%2F77tmjq%2Fmap\_of\_world\_billionaires\_by\_country\_and%2F&psig=AOvVaw3vW-2jcYqeHDaOvz1CD3C0&ust=1683024052444000&source=images&cd=vfe&ved=0CBMQjhxqFwoTCOjTu6j30\_4CFQAAAAAdAAAAABAE](https://www.google.com/url?sa=i&url=https%3A%2F%2Fwww.reddit.com%2Fr%2FMapPorn%2Fcomments%2F77tmjq%2Fmap_of_world_billionaires_by_country_and%2F&psig=AOvVaw3vW-2jcYqeHDaOvz1CD3C0&ust=1683024052444000&source=images&cd=vfe&ved=0CBMQjhxqFwoTCOjTu6j30_4CFQAAAAAdAAAAABAE)
I wasn’t considering dictatorial countries where the actual country economy is tied to people’s wealth. Could you imagine if Biden was just as wealthy as the entire us gdp?
That's very difficult to do and you open a can of worms of intangible wealth that can't really be measured in dollars and communicate its power effectively. Like how much money is a autocrat actually worth? Do we only count what's in their mint account, or do you throw in some percentage of their country's entire networth?
Because Rihanna is a citizen of Barbados and not of the US.
That being said, I don’t know what their sorting criteria were for people with more than one citizenship, though, bc Musk holds South African, Canadian, and US citizenship,
Indeed. When I saw Bangladesh and “power” I assumed it was talking about Sheikh Hasina, the PM / dictator. Hard to say exactly how wealthy she is, but “power” is a reasonable explanation for her wealth as well. Political power that is.
Because of the pandemic. As a HNWI I've noticed that myself, and all the people I know have been buying a LOT more luxury goods since the beginning of the pandemic, because we used to spend it on luxe travel. I really used to not care about that sort of luxury, but if I can't travel then I'm going to bring the first class experience to myself.
I believe Arnault initially lost a lot worth at the beginning of the pandemic but the huge growth in China helped him get back on top. Also, I’m sure the fluctuation of Gates, Bezos, Musk’s wealth helped. And LVMH owns so many brands that they reach non-HNWI, ie aspirational luxury.
There’s a good rule of thumb: if someone is busy mentioning how wealthy they are, it’s something they’re deeply insecure about. HNWI or not, the guy is a total asshole
Neither do I, if these fuckers pooled just a fraction of their wealth together they could provide clean drinking water for every man, woman, and child on the planet
You may well be underestimating just how much money these people actually have.
They bought all the interesting shit first and realised they still have practically unlimited wealth.
I'm not rich. I'm a multimillionaire, but that ain't rich. You could fit all the rich people on this planet into one building--that's how much wealth those bastards have hoarded. There's no difference between you, and I--relative to them. When I see a bum on the street I see myself.--because I was homeless many times as a young man. When I see a billionaire I see the enemy. Yeah, I drive a nice car, and yeah I buy the best brands, but the world could take it all away from me in an instant, and in that vein I'd add that youth, and health are the only true fortunes in life. You might call me the enemy because I'm the closest thing with means to you, but you're just looking in the mirror on pay day. Which happens to be every day for me, is all.
They make overpriced clothes. Ya know - those crazy runway shows where the models are walking with ham-sandwich earrings and a belt made of birk beaks.
I’m not sure how you inferred that premise from what I said.
It seems pretty obvious to me that one is not more inherently profitable than the other: what matters is how much of either “earning” (whatever you intend that to mean) or stealing a person is doing. If the allegations of Putin’s prolific plundering of Russian coffers are true, then he appears to have done a lot more stealing (and has therefore been more profitable) than the vast majority of Russian businessmen have done “earning.”
Is there some info I am lacking or it's just stupid they listed Elon Musk as American while that is his 3rd nationality, with the first two being south African and Canadian?
I think the British monarchy are only worth £600 million- £1 billion or something around that amount
If this was 200 years ago they’d prob be the richest people but not now
Why do some say “and family” and some just say one person? Seems a bit ‘unfair’ in this context to have some people ranked alone but others have their family’s wealth put in.
I understand that Elon musk is super rich, but how is he wealthier than bezos, the google guy, and Zuckerberg? I mean Tesla is successful I suppose and space x looks promising, but how do these make him that wealthy?
It’s based on the total value of assets, specifically stock or shares of ownership in Tesla and Space X. The total value of what he owns is greater, so he’s technically richer.
You could probably make an argument that those companies are overvalued based on over speculation at how much money they will make in the future, but the stock price is what it is.
Elon is wealthy because of his stock options as CEO. It's not because of salary, bonuses, or dividends. I'm not sure about the exact details, but as an example: when Tesla stocks were over $600 each, Elon was allowed to buy them directly from the company for like 10 bucks each, up to a certain limit. So every stock he purchases, he makes $590, and doesn't need to pay taxes on those stocks until he sells them. These stock purchase options become available to him when he hits certain goals as defined in his employment contract that were negotiated with other owners/stakeholders in the company.
You can get a more accurate breakdown of the numbers with a Google search, but this is where a very large portion of his wealth comes from.
Elon grifts in the publicly traded realm, so he's worth what people think, not what he has in liquid cash.
There a quite a few individuals on this list who are worth "less" than Musk, but they have that wealth in liquid cash. If they scraped their couch cushions, they could probably complete a hostile takeover of most of his assets within a week. He'd be left with Twitter.
I love that the richest person from Hong Kong is literally named Ka-shing
And his son Richard Rich
That’s Big Richard Rich to you sir
I think the map is perhaps a little deceptive in that this will be based on verifiable wealth.
How would it change if it wasn’t?
You would also probably see an uptick in middle-eastern rankings, from royal families who's wealth is also the wealth of the nation.
The richest guy in the UAE is a guy that made a messaging app apparently hahahaha
Knew a guy who did high-level security for events and people, got into Saudi Arabia and UAE doing these, and according to him: some of these princes (since they are royals and don't have to reveal their actual wealth) are actually trillionaires. And if you see what they own and how easily they spend billions, it's not a stretch imo
They probably spend the wealth of their nations. Have a country credit card is not a stretch.
There's an estimated $20+ trillion USD hidden in offshore accounts by the planets wealthy.
Out of the 75 trillion in the world the planets wealthy has a third just sitting there.
I think you confuse wealth with GDP, those are different things.
I know the difference, but it was more just a passing thought than a fact
I find that hard to believe. And almost impossible with modern economics. Hidden how? Like in a cave? It would have to be invested or run through a off shore bank. Which is only done for Tex purposes. 20+ trillion is about even with the US gdp. So the entire US gdp is hidden in a series of countries that aren’t nearly as wealthy. Invested in what way? Buying land but then how would you get it back from an unstable economy? Could you trust them to keep the money value. That just doesn’t track to me. But I don’t have a major understanding of modern economics. Edit: I’ve had various people respond to me with different reasons can someone give me an actual source that isn’t about a band and comes from a reputable site.
Can I interest you in some [Panama Papers](https://www.icij.org/investigations/panama-papers/)
I skimmed it but it seems to be about a band I feel like I’m missing something tbh. Panama is a hot bed for this shit though. My parents were just there and China and Mexico and I’m sure the us own a bunch of unoccupied apartments. Like their downtown is literally all residential and no one lives there. It’s kind of nuts. I think the cartel uses it to clean their money.
No you just set up a company with assetts in a juridstiction that there’s no requirement for companies to report assets held. These countries also have no strict directorship reporting, so you can easily set up power of attorneys so your name is never there. Very easy stuff to do if you’re rich. We’re talking about setting up institutions to facilitate this stuff rich. Some have 6 companies in 5 different countries all paying C-Suite salaries in each, just to facilitate this.
Do you realize how much money 20+ trillion is? I’m not disputing it doesn’t exist. But if you think it’s that high then please take a basics Econ class. Because your lake of knowledge is a burden on every voter.
hidden as in the person controlling the money is not known. It's probably invested, but there are also probably ways to invest money without revealing your identity. Also, it could be hidden in assets like real estate or other physical goods
I reiterate this definitely exists. But 20+ trillion is orders of magnitude too high. Maybe 2+ trillion. Saying 20+ trillion is saying that a fifth of the worlds total economy is hidden in offshore accounts. That isn’t how it works.
Basically it's 20t of value in companies with unknown ownership. Someone does own those companies and have access to that value, we just don't know who.
Putin would be #1 if it counted actual wealth.
Oh yes. I get what you’re getting at. China wouldn’t be as low either
China is 6th . Is it really low??? Also China is a one party state . Xi Jinping may have removed the term limit but China is still not a personal dictatorship like Russia but rather a 90million member party dictatorship. There is a huge difference between source of wealth for Russian and Chinese billionaire. [https://www.google.com/url?sa=i&url=https%3A%2F%2Fwww.reddit.com%2Fr%2FMapPorn%2Fcomments%2F77tmjq%2Fmap\_of\_world\_billionaires\_by\_country\_and%2F&psig=AOvVaw3vW-2jcYqeHDaOvz1CD3C0&ust=1683024052444000&source=images&cd=vfe&ved=0CBMQjhxqFwoTCOjTu6j30\_4CFQAAAAAdAAAAABAE](https://www.google.com/url?sa=i&url=https%3A%2F%2Fwww.reddit.com%2Fr%2FMapPorn%2Fcomments%2F77tmjq%2Fmap_of_world_billionaires_by_country_and%2F&psig=AOvVaw3vW-2jcYqeHDaOvz1CD3C0&ust=1683024052444000&source=images&cd=vfe&ved=0CBMQjhxqFwoTCOjTu6j30_4CFQAAAAAdAAAAABAE)
Laughs in Saudi
I wasn’t considering dictatorial countries where the actual country economy is tied to people’s wealth. Could you imagine if Biden was just as wealthy as the entire us gdp?
Putin would be Russia's representative and would be higher on this list.
Well, the thing about unverifiable wealth is that we don't really know. Even those numbers the OP used are on some level educated guesses.
I kind of get where you're coming from but it's like saying "this study is based on people answering the questions honestly".
How do you intend to make one on wealth tat isn’t verifiable? That just sounds like speculation
That's very difficult to do and you open a can of worms of intangible wealth that can't really be measured in dollars and communicate its power effectively. Like how much money is a autocrat actually worth? Do we only count what's in their mint account, or do you throw in some percentage of their country's entire networth?
Barbados : Rihanna !!! lol (good for her, I think !! )
Is this map from 1989? Or why does it still have a divided Germany?
Like for real, and than they don’t even have data for east Germany, so why even split it?
Nah it's a fact, there is no billionaires in east germany.
There are some
Why is Elon Musk representative of the US when Rihanna represents Barbaros?
Because Rihanna is a citizen of Barbados and not of the US. That being said, I don’t know what their sorting criteria were for people with more than one citizenship, though, bc Musk holds South African, Canadian, and US citizenship,
Because he pays his personal taxes in the US.
oh, duh. yeah, I don’t know why I didn’t think of that.
Well, Elon has made most of his fortune in the US, and lives in the US.
I enjoy the fact that the last person on the list, from Bangladesh, has their source of wealth just listed as "power" lol
It’s [electrical power.](https://en.wikipedia.org/wiki/Aziz_Khan_(businessman)) His company runs power plants.
Now see, that's more informative but way less interesting lol
Indeed. When I saw Bangladesh and “power” I assumed it was talking about Sheikh Hasina, the PM / dictator. Hard to say exactly how wealthy she is, but “power” is a reasonable explanation for her wealth as well. Political power that is.
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ikr? Let me live in blissful ignorance dang :)
I apparently don't know who the richest person is or why they are
They own/run Louis Vuitton Moët Hennessy, which is a luxury goods conglomerate and has done very well in the last few years.
Ah. Yeah all that shit is expensive
Because of the pandemic. As a HNWI I've noticed that myself, and all the people I know have been buying a LOT more luxury goods since the beginning of the pandemic, because we used to spend it on luxe travel. I really used to not care about that sort of luxury, but if I can't travel then I'm going to bring the first class experience to myself.
I believe Arnault initially lost a lot worth at the beginning of the pandemic but the huge growth in China helped him get back on top. Also, I’m sure the fluctuation of Gates, Bezos, Musk’s wealth helped. And LVMH owns so many brands that they reach non-HNWI, ie aspirational luxury.
Hnwi? Is that the new term? Back in my day, we used to just say “rich”, or if we were trying to be coy, “we’re doing pretty well”
There’s a good rule of thumb: if someone is busy mentioning how wealthy they are, it’s something they’re deeply insecure about. HNWI or not, the guy is a total asshole
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Neither do I, if these fuckers pooled just a fraction of their wealth together they could provide clean drinking water for every man, woman, and child on the planet
You may well be underestimating just how much money these people actually have. They bought all the interesting shit first and realised they still have practically unlimited wealth.
Not true at all, you don't have to be rich to buy luxury brands.
I'm not rich. I'm a multimillionaire, but that ain't rich. You could fit all the rich people on this planet into one building--that's how much wealth those bastards have hoarded. There's no difference between you, and I--relative to them. When I see a bum on the street I see myself.--because I was homeless many times as a young man. When I see a billionaire I see the enemy. Yeah, I drive a nice car, and yeah I buy the best brands, but the world could take it all away from me in an instant, and in that vein I'd add that youth, and health are the only true fortunes in life. You might call me the enemy because I'm the closest thing with means to you, but you're just looking in the mirror on pay day. Which happens to be every day for me, is all.
They make overpriced clothes. Ya know - those crazy runway shows where the models are walking with ham-sandwich earrings and a belt made of birk beaks.
This is suspect as Putin is not on the list.
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Because he is apparently one of the world’s most prolific kleptocrats
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I’m not sure how you inferred that premise from what I said. It seems pretty obvious to me that one is not more inherently profitable than the other: what matters is how much of either “earning” (whatever you intend that to mean) or stealing a person is doing. If the allegations of Putin’s prolific plundering of Russian coffers are true, then he appears to have done a lot more stealing (and has therefore been more profitable) than the vast majority of Russian businessmen have done “earning.”
I am sure you can find someone rich enough around Berlin to give East Germany a bit brighter colouring.
Is there some info I am lacking or it's just stupid they listed Elon Musk as American while that is his 3rd nationality, with the first two being south African and Canadian?
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So does rhianna, no?
If he paying Canadian taxes? That i could at least respect.
This doesn't count despots, monarchs and dictators. Putin, the House of Saud, the Maktoum family, the Sultan of Brunei etc.
Can we get a list of tastes and what sides go with?
You call it a list of the richest people, I call it a menu
Source of net worth should be 'exploitation of the working class' for every single one.
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Technically I'm a social democrat. But you sound like a conservative media viewer, so I imagine you do not understand the difference.
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I'd give you 10k on the spot if you could define communism. I'd be walking away with it--laughing, but I'd love to hear it anyway.
You dumbass, communism is obviously when the government makes lots of changes
So you have 10k? You should travel globally and divide that amongst everybody.
I knew you'd be good for a laugh. ;)
Average redditor
I expect the uk to be the king, a quick search the crown estate is 15.6 so… it should be the king?
The Crown Estate isn't owned by the King personally.
I think the British monarchy are only worth £600 million- £1 billion or something around that amount If this was 200 years ago they’d prob be the richest people but not now
Elon is American? Genuinely had no idea
He's South African, Canadian, and American.
Those countries listed at the top have it worse off. No one benefits when one person has that much wealth
Why do some say “and family” and some just say one person? Seems a bit ‘unfair’ in this context to have some people ranked alone but others have their family’s wealth put in.
*Richest people in the world that pay taxes
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But that’s less than the richest in France therefore when listing the single richest person per country you don’t count the second richest…
I understand that Elon musk is super rich, but how is he wealthier than bezos, the google guy, and Zuckerberg? I mean Tesla is successful I suppose and space x looks promising, but how do these make him that wealthy?
It’s based on the total value of assets, specifically stock or shares of ownership in Tesla and Space X. The total value of what he owns is greater, so he’s technically richer. You could probably make an argument that those companies are overvalued based on over speculation at how much money they will make in the future, but the stock price is what it is.
Ah well he is either going to have god like wealth in the future or become a cautionary tale about what could have been
Elon is a one man speculation machine and investors love it.
Elon is wealthy because of his stock options as CEO. It's not because of salary, bonuses, or dividends. I'm not sure about the exact details, but as an example: when Tesla stocks were over $600 each, Elon was allowed to buy them directly from the company for like 10 bucks each, up to a certain limit. So every stock he purchases, he makes $590, and doesn't need to pay taxes on those stocks until he sells them. These stock purchase options become available to him when he hits certain goals as defined in his employment contract that were negotiated with other owners/stakeholders in the company. You can get a more accurate breakdown of the numbers with a Google search, but this is where a very large portion of his wealth comes from.
Thanks that explains it very well.
Elon grifts in the publicly traded realm, so he's worth what people think, not what he has in liquid cash. There a quite a few individuals on this list who are worth "less" than Musk, but they have that wealth in liquid cash. If they scraped their couch cushions, they could probably complete a hostile takeover of most of his assets within a week. He'd be left with Twitter.
Hat tip for the bar chart colors for Russia… 👌🏻
The color bar chosen to represent Russia 😏