Billionaires

The World’s Richest Self-Made Billionaires

Published

17 mins ago

April 18, 2024

Daniel Wanburg

History is full of people who were self-made, becoming rich by fair means or foul – in many cases the latter – but the assumption today is that people with, to most of us, such a huge sum of money must have had a leg-up somehow; not so – research and development of, and demand for technological accessories is one big reason, world wide, so IT features prominently in the list. Since around 80% of billionaires are actually self-made, what are the rest of us waiting for!?

The following list comprises the richest in the self-made club, a snap-shot as of early 2016, acknowledging that the day-to-day volatility of share markets can have a significant effect on total wealth and therefore ranking; eg Mark Zuckerberg apparently gained over $6 billion on 27 January alone, while Carlos Slim went the other way! Perhaps unsurprisingly, 12 who make the list are either American-born or now American citizens, and no women make the top 20!

20. Phil Knight: $22 billion

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Born: 28 February 1938, Portland, Oregon, USA
Nationality: American
Residence: La Quinta, California
Start in Business: 1962

Quickly switching from marketing Tiger sports-shoes to founding Nike in 1964, Phil ‘retired’ as CEO in 2006 to become Chairman until 2015 of one of the most profitable companies in the world. However, concurrently he became immersed in Laika (previously Vinto Studios), firstly as an investor and then CEO and Chairman, turning it into a successful film-making company today.

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19. Steve Ballmer: $22.5 billion

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Born: 24 March 1956, Detroit, Michigan USA
Nationality: American
Residence: Washington State
Start in Business: 1978

To identify the source of Steve’s wealth, one only has to say that Steve was the very successful CEO of Microsoft from 2000-14, and remains the largest shareholder. However, he is still improving his net worth as the owner of the Los Angeles Clippers NBA team, which also enables him to indulge in his keen interest.

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18. Carl Ichan: $23 billion

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Born: 16 February 1936, Queens, New York City, USA
Nationality: American
Residence: New York City
Start in Business: 1961

Carl began work as a ground-floor stockbroker, formed securities firm Icahn & Co in 1968, and subsequently Icahn Enterprises in 1987. He controls significant investments across many industries, including in Apple the value of which rose $8 billion in one day just from an Icahn comment! Other interests include PayPal, Xerox, and holding company Gannett. However, resource price declines saw Icahn’s wealth slip somewhat in 2015.

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17. Leonardo Del Vecchio: $23.5 billion

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Born: 22 May 1935, Milan, Italy
Nationality: Italian
Residence: Milan, Italy
Start in Business: 1961

Versace, Burberry, Prada, Ray-Ban, Oakley and Sunglass Hut are just a few of the brands owned by Leonardo through Luxottica, founded in 1961 and which has become the world’s biggest eye-wear retailer, and of which he is still chairman. Considering that he was effectively orphaned, and began work at the bottom as a tool-making apprentice, Del Vecchio is an outstanding example of the self-made billionaire.

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16. George Soros: $25 billion

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Born: 12 August 1930, Budapest, Hungary
Nationality: dual Hungarian-American
Residence: Bedford, New York State
Start in Business: 1954

A (Jewish) refugee with virtually nothing after the Battle of Budapest in 1945; graduating with a PhD from the London School of Economics – the leading ‘producer’ of billionaires in the UK – while working at any jobs he could get; securing a position in the London finance industry; moving to the USA in 1956; subsequently founding Soros Fund Management in 1970; becoming a billionaire by 1980; a real ‘rags-to-riches’ story. Along with Warren Buffett, he is recognised as an extremely knowledgeable investor, even ‘breaking the Bank of England’ through currency speculation in 1992.

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15. Sheldon Adelson: $26 billion

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Born: 4 August 1933, Dorchester, Massachusetts, USA
Nationality: American
Residence: Boston, Massachusetts
Start in Business: 1979

Sheldon is still the CEO and chairman of his beloved Las Vegas Sands casino, plus owning casinos in Singapore and Macao. Not bad for a youngster who started by borrowing a couple of hundred dollars from an uncle to buy a newspaper round when he was just 12 years old. He moved up to candy-machines when he was 16, and has seldom looked back, although not all of his 50-plus businesses have proved as successful as his current interest.

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14. Jack Ma: $27 billion

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Born: 10 September 1964, Hangzhou, China
Nationality: Chinese
Residence: Hong Kong/Hangzhou
Start in Business: 1995

Visiting the USA in the mid-90s, Jack Ma was astounded to find virtually no information about China anywhere on the internet. He scraped together $20,000 and began developing web sites for Chinese companies – the beginning of the Alibaba group, and the start of his road to becoming the richest man in China. There are now nine companies under the Alibaba umbrella, which raised $25 billion, the largest amount ever, at its IPO on the New York Stock Exchange in 2014. Jack now serves as the chairman.

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14. Jorge Paulo Lemann: $27 billion

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Born: 26 August 1938, Rio de Janeiro, Brazil
Nationality: dual Swiss-Brazilian
Residence: Rapperswil-Jona, Switzerland
Start in Business: 1966

Although beginning his working life with Credit-Suisse as a trainee, such companies as Burger King, Anheuser-Busch and Tom Horton’s, as well as a large stake in Kraft-Heinz through 3G Capital are now the bases of Lemann’s wealth. His financial background has helped Jorge survive several reverses in the business and financial world, and maintain his position as the richest (half-) Brazilian.

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12. Lee Shau-kee: $28 billion

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Born: 29 January 1928, Shunde District, Guangdong, China
Nationality: Chinese
Residence: Hong Kong
Start in Business: 1950s

Lee was wise enough to move to Hong Kong before the communists took over in mainland China, and becoming involved in real estate in a place where land is in short supply was an even smarter move. Today he is chairman and MD of Henderson Land Development Company which he founded in 1973, but also has interests in gas and internet services. Lee is sometimes referred to as “Hong Kong’s Buffett”, a compliment indeed.

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11. Sergey Brin: $29 billion

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Born: 21 August 1973, Moscow, Russia
Nationality: American
Residence: Los Altos, California
Start in Business: 1997

A co-founder of Google (now a part of Alphabet) with Larry Page in 1998, Sergey has utilised his computer science degree well to help build the company into the most used search-engine on the internet. Sergey now heads Google X, and his net worth continues to increase, although already having reached a position he is unlikely to have imagined when migrating with his (Jewish) parents from the Soviet Union in 1980, where their personal advancement was stymied under communism.

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10. Larry Page: $31 billion

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Born: 26 March 1973, East Lancing, Michigan, USA
Nationality: American
Residence: Palo Alto, California
Start in Business: 1997

Moving on from BackRub to co-found Google with Sergey Brin was Larry’s real starting point to financial success, as the change was from university-orientated to offering their product to the world – and what a world it has turned out to be. Larry had some start in that his father was a computer scientist, but was certainly not rich, and Larry became a totally self-made billionaire before the age of 30.

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9. Michael Bloomberg: $34 billion

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Born: 14 February 1942, Boston, Massachusetts, USA
Nationality: American
Residence: New York City
Start in Business: 1969

From his start in 1967 as a trader with Salomon Brothers to Mayor of New York is not a normal career progression, but Bloomberg first made his wealth through becoming a partner in 1973, and then developing his own market information service via Bloomberg L.P founded in 1981. As with most successful entrepreneurs, Bloomberg spotted a niche which needed to be filled, but then also believed that he could manage a major city, and served three terms as mayor from 2002-2013. He is now back as CEO of his own company.

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8. Carlos Slim Helú: $37 billion

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Born: 28 January 1940, Mexico City, Mexico
Nationality: Mexican
Residence: Mexico City
Start in Business: 1962

Carlos has made most of his wealth from developing telecommunications companies in Mexico, particularly in mobile ‘phones, but as befits an engineering graduate, also has other manufacturing interests and a wide variety of companies. His net worth began when he bought bonds at the age of 11, and has been known as a hard-worker and very capable financial manager ever since – “The Buffet of Mexico”.

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7. Jeff Bezos: $40 billion

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Born: 12 January 1964, Albuquerque, New Mexico, USA
Nationality: American
Residence: Seattle, Washington State
Start in Business: 1992

Jeff’s background was in finance and computing, until he put the two together in 1994 to found on-line merchandiser Amazon, identifying an opening concurrent with the rapid growth of internet use. Still no other company approaches Amazon’s volume of business, now world-wide. Jeff is also known as the proprietor of “The Washington Post”, although his interest in editorial comment is apparently minimal.

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6. Mark Zuckerberg: $47 billion

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Born: 14 May 1984, White Plains, New York State, USA
Nationality: American
Residence: Palo Alto, California
Start in Business: 2004

The co-founder of Facebook is a voluntary drop-out from Harvard, a university second on the list for billionaire alumni, but seems to have done alright for himself, accumulating his present fortune in just 12 years, and one of the youngest to reach the billionaire mark at 27 – nothing else needs to be said!

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5. Ingvar Kamprad: $48 billion

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Born: 30 March 1926, Agunnaryd, Sweden
Nationality: Swedish
Residence: Smaland, Sweden
Start in Business: 1943

Given a small amount of money by his father for doing well at school, Ingvar established IKEA when he was 17, originally sold by mail order and therefore flat-packed, and building it into the largest retailer of furniture in the world, selling over $25 billion in stock in 2015. At current rates, Ingvar became a member of the billionaire’s club by the time he was 30.

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4. Larry Ellison: $52 billion

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Born: 17 August 1944, Manhattan, New York City, USA
Nationality: American
Residence: Woodside, California
Start in Business: 1977

Beginning working life as a programmer, Larry was knowledgeable enough to identify the need for a relational data base management system; Oracle was originally written specifically for the CIA, which with two colleagues was developed and released in 1979. With that significant reference, the company has generally prospered since, except for a difficult period when sales were over-stated, and spread widely into Europe. Ellison was CEO until 2014, when he became chairman and CTO. He also has significant real estate holdings, part of which is an Hawaiian island. Larry was adopted from his single mother, and never graduated from university, as his interest in computing wasn’t catered for – as with others on this list. Lack of a degree doesn’t seem to have been a hindrance!

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3. Amancio Ortega: $65 billion

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Born: 28 March 1936, Leon, Spain
Nationality: Spanish
Residence: La Coruna, Spain
Start in Business: 1972

Zara, a fashion designing and retailing company, was founded by Amancio in 1975 – it’s reputation is that it is all things to all people, a novel idea which has certainly hit the mark ever since, including promoting Ortega to be the richest person in Spain.

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2. Warren Buffett: $73 billion

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Born: 30 August 1930, Omaha, Nebraska, USA
Nationality: American
Residence: Omaha, Nebraska
Start in Business: 1970

It’s hard to believe, but “The Sage of Omaha” began trading shares at the age of 11, with money saved from his newspaper round, which he subsequently bought. Now he is accepted as perhaps the most knowledgeable investor in the world, with shares in his Berkshire-Hathaway fund trading at over $200,000 each, by far the highest on the NYSE. Regardless of his current wealth, Warren clearly appreciated the value of money from a very early age, and even now recognises that you still need to work to get it!

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1. Bill Gates: $86 billion

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Born: 28 October 1955, Seattle, Washington State, USA
Nationality: American
Residence: Medina, Washington State
Start in Business: 1975

Another Harvard drop-out, but an entrepreneurial designer from that time, Bill has been at the head of research and development in IT as the founder of Microsoft, and at its head for more than 40 years. He has been at the top of this list for most years in the last 20, despite now committing most of his, and his wife’s wealth to philanthropic activities.

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Daniel Wanburg

As the Managing Editor at Net Worth Post, I lead a talented team in delivering compelling content on the lives and achievements of influential figures. With a keen eye for detail and a passion for storytelling, I oversee the production of insightful biographies that resonate with our audience. My role involves not only managing the editorial process but also conducting research, crafting engaging narratives, and ensuring the accuracy and quality of our publications. At NetWorthPost, we strive to provide our readers with in-depth profiles that offer valuable insights into the worlds of business, entertainment, and beyond. Through meticulous research and captivating storytelling, we bring to light the remarkable journeys and successes of individuals who inspire and captivate us.

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Billionaires

Warren Buffett Net Worth

Published

8 mins ago

April 18, 2024

Daniel Wanburg

Warren Edward Buffett was born on 30 August 1930, in Omaha, Nebraska USA, and is known worldwide variously as the “Sage”, “Wizard” or “Oracle of Omaha”, as is currently ranked in the top three richest people in the world by Forbes and Bloomberg, being primarily an extremely knowledgeable investor and financial advisor, also a business magnate, financier and generous philanthropist.

So just how rich is Warren Buffett? According to Forbes, Warren’s net worth in mid-2017 is estimated to be a very impressive $77 billion, the vast majority of his wealth having been accumulated as a result of his consistently successful investing through his company Berkshire Hathaway.

Warren Buffett Net Worth $77 Billion

Warren Buffet is the only son of US Congressman Howard Buffett and mother Leila (née Stahl). Warren went to school in Washington DC, and then to the University of Pennsylvania for two years (including joining the Alpha Sigma Phi fraternity) before transferring to the University of Nebraska from where he graduated at nineteen with a BSc in business administration. After unsuccessfully applying to Harvard Business School, Buffett enrolled at Columbia Business School, and graduated with a MSc in economics in 1951. Buffett also attended the New York Institute of Finance.

Even in primary school, Warren Buffett made money in all sorts of ways, including owning second-hand pinball machines, working in his grandfather’s store, selling golf balls, chewing gum, and magazines door-to-door. Buffett’s interest in the stock market and investing began in his schooldays too, sometimes spent in the customers’ lounge of a regional stock brokerage near his father’s office, plus visiting the NYSE when he was 10. At 11, he bought three shares of Cities Service for himself, and three for his sister Doris (founder The Sunshine Lady Foundation). In high school, he invested in a business owned by his father, and bought a farm worked by a tenant farmer.

Warren Buffett began his full-time working career as an investment salesman for Buffett-Falk & Co., then as a securities analyst in Graham-Newman Corp, and subsequently went on to work at Buffett Partnership, Ltd. In 1957 he had three partnerships operating, increasing to five the next year, and which by 1962 made him a millionaire – that year his partnerships had assets of over $7 million, $1 million of which belonged to Buffett.

Buffett’s first private investment was the department store Hochschild, Kohn and Co. However, it was Berkshire Hathaway that brought him huge financial success, firstly from buying the shares of this multinational conglomerate holding company, then becoming chairman in 1965. The company became the portal for virtually all of Buffett’s investments, giving him a spot on the Forbes 400 in 1979, and making him a billionaire by 1990. Warren Buffett is now chairman , CEO and the largest shareholder of the company. In 2008, he was listed by Forbes as the richest person in the world, and in 2012, Time magazine named Buffett one of the most influential people in the world, a position which he has held in every year since, regardless of formal acknowledgement.

In addition to the profits gained from his company, Buffett has accumulated a large amount of his net worth due to forward contracts, the value of which by 2006 was over $2 billion. That same year Buffett announced that he would give away 85% of his Berkshire holdings to five charitable organizations – the largest amount going to the Bill and Melinda Gates Foundation co-founded with Bill Gates with the aim of reducing poverty and enhancing healthcare – plus others such as Nuclear Threat Initiative, Glide Foundation, and Buffett Foundation, created in order to manage his charitable donations. As a result of his philanthropy, Warren Buffett’s annual salary in recent years amounts to only $100,000.

Buffett’s humble and generous personality has inspired many authors such as Robert Lowenstein, Alice Shroeder, Janet Lowe, and John Train to release books about him. Warren Buffett is also a known writer himself, and has been publishing annual reports and various articles for a number of years, the most prominent of which is “The Super Investors of Graham-and-Doddsville”.

In his personal life, Warren was married to Susan from 1952 until her death in 2004, although they lived separate lives from the late 70s; they have one daughter. In 2006 he married Astrid Menks, with whom he had been co-habiting for many years. Warren Buffett lives in a house in Omaha, which he purchased in 1957 for $31,000. During his free time, Buffett enjoys playing bridge, and has even sponsored a Buffett Cup bridge match.

Billionaires

Jefferey Hildebrand Net Worth

Published

15 mins ago

April 18, 2024

Daniel Wanburg

Jeffery Hildebrand is a successful American businessman, born in 1959, and best known as the founder, CEO and chairman of the Hilcorp Energy Company, which is now one of the largest oil and natural gas exploration and production companies privately-held in the US.

Have you ever wondered how rich Jeffery Hildebrand is? According to sources, it has been estimated that Jeffery Hildebrand’s overall net worth is $4.2 billion, accumulated through an outstandingly successful and lucrative career as an entrepreneur, since the early ‘90s. As he is still an active businessman, his net worth continues to increase.

Jeffery Hildebrand Net Worth $4.2 Billion

Jeffery attended the University of Texas at Austin, where he first earned a bachelor’s degree in geology in 1981 and then a master’s degree in petroleum engineering four years later. During his studies, Hildebrand was also a member of the Pi Epsilon Tau fraternity. His career beginnings were at the American Energy Capital Corporation, Exxon Company and the Dan A. Hughes Company.

However, his career really started moving upwards in 1989, when he founded Hilcorp Energy Company. This oil and gas exploration and production company, headquartered in Houston, soon became one of the leaders in the US. It now has operations in multiple states including the Rockies, the Gulf Coast and Northeast US, as well as Alaska. In 2011, the company sold its interests in Eagle Ford Shale to Marathon Oil for approximately $1.4 billion. Years after its foundation, it appeared on Fortune Magazine’s 100 Best Companies to Work For three years in a row – in 2013, 2014 and 2015. This proved to be true, as Jeffery gave each one of his 1400 employees a $100,000 bonus to thank them for their efforts in making his business the most profitable privately held oil and gas company in the US.

Apart from this, Hildebrand is a member of several other associations, including the Engineering Advisory Board, The National Petroleum Council, the Houston Energy Finance Group, the All American Wildcatters, the Independent Petroleum Association of America, the American Association of Petroleum Geologists, the Texas Independent Petroleum Royalty Owners Association, the Louisiana Independent Oil and Gas Association among many others. He was also appointed to the University of Texas Regent Wallace Hall in 2011.

The successful businessman that he is, Jeffery holds several other positions, on the boards of Central Houston, Inc. the Houston Livestock Show and Rodeo and the Houston Police Foundation. He is Vice-Chairman of the University of Texas Systems Board of Regents, chairman of the University of Texas Investment Management Company, and a member of the University Lands Advisory Board.

When it comes to his private life, Jeffery is married to Mindy; they have three children and reside in Houston, Texas. As for political involvement, since the beginning of the 2000s, Hildebrand has donated more than $360 000 to politician Rick Perry.