World's richest people 2023: Bezos overtakes Bernard Arnault as world's second richest
Bernard Arnault has flown close to the sun, but now he's slipping down the rankings of the world's rich-list.
Analysts at Bank of America have noted that Chinese demand remains robust the country continues to seek out luxury goods because of an extended lockdown, which only saw the Asian nation lift regulations at the start of the year.Amazon's domination of the world's retail trade has brought Bezos an extra $49.3 billion in wealth this year.Despite this quarter's losses, the French national still has a net worth of $155 billion USD.
Sergey Brin makes his crust from his position as co-founder of Alphabet, the holding company that owns Google.The group's divisions include Gmail, Android and YouTube.Larry Ellison is chairman, chief technology officer and co-founder of software giant Oracle, of which he owns about 35 per cent.Stock market valuation of Alphabet has ballooned since the beginning of the year, with investors seemingly enticed by the bold new frontier offered by AI, and its money-making potential.