The Wealth of Individuals during the Coronavirus Pandemic had seen an increase where the top 10 richest men in the world had earned a lot and increased their net worth during the year 2020. However, in India, the Super Rich has seen a dip in their net worth. Let’s look at the reason for it.
According to a report from Credit Suisse, the wealth of India’s super-rich has seen a dip of around 4.4% to USD 12.38 trillion in the year 2020. While the wealth of Mukesh Ambani, Adar Poonawalla, and Gautam Adani had seen a significant rise in their net worth, the overall wealth of the country’s super-rich had seen a fall in their net worth.
Reason Why the Super rich saw a dip in their wealth
One of the major reasons for the dip in the net worth of India’s super-rich is due to the rupee’s fall during the situation of Coronavirus Pandemic in the year 2020. According to the research by Credit Suisse, a research institute, the number of millionaires in terms of dollars had seen a fall of 6,98,000 in the year 2020 from 7,64,000 in the year 2019. This is only due to the fall in the value of the rupee.
The cumulative wealth had fallen to USD 12.38 trillion and saw a decline of around USD 594 billion from the previous year.
India is considered to be a home for the Super-rich as around 1% of the global rich are Indians. Even amidst the pandemic, the number had seen a rise of around 5.2 million to reach 56.1 million. AS per the report by 2025, the number of millionaires in India is expected to see a rise to 1.3 million which is around 81.8 % growth.
In the year 2020, every adult Indian had a worth of an average of USD 14,252 in the year 2020 which has seen an annual growth over the years of around 8.8% from the year 2000. India has seen much better growth while compared to the global average that is around 4.8 %.
In India, there were around 4,320 ultra-high net worth individuals who had a net worth that was more than USD 50 million.
Did the Global Wealth got Affected
While looking at the Global Wealth it has seen an increase of around USD 28.7 trillion to reach USD 418.3 trillion. The Wealth had seen a dip in the first quarter of 2020 of around USD 17.5 trillion. As of now, adults require more than USD 1 million to be in the top 1 % which has seen an increase from USD 988,103 in the year 2019.
When it comes to the rich, the Ultra High net worth individuals had seen a growth in their wealth by adding more members to the group. Around 24 Ultra High Net worth individuals were added to the group in the year 2020.
According to the economists from Credit Suisse, the creation of wealth in the year 2020 was largely immune to the challenges that were faced by the world due to certain actions taken by the Government and Central Banks to reduce the impact of the pandemic on the economy.
However, with regards to the transient effect on worldwide business sectors, the pandemic unleashed ruin in the principal quarter of 2020 as $17.5 trillion was lost from complete worldwide family abundance in between January and March of 2020. In any case, by June-end share costs started to take off and it arrived at record levels by year-end.
Eventually, $28.7 trillion was added to worldwide family abundance during the year, taking the total worldwide abundance up by $28.7 trillion to $418.3 trillion, the report said.
Wealth per adult has seen a rise of over 6 % in order to reach another record of USD 79,952. However, it is found that the countries that have been affected the worst from the Coronavirus Pandemic have not been a lot affected in terms of the creation of wealth.
FAQ
How many millionaires are there in India?
India has around 759 thousand millionaires.
Who is the youngest billionaire in India?
Nikhil Kamath, the co-founder of Zerodha is India’s youngest billionaire at the age age of 34.
How many billionaires are in India?
India ranks third in most number of billionaires with 140 billionaires in the country.
Warren Buffet is known as one of the best investors in the history of the stock market. His principles and teachings have always been widely used and regarded by the financial analysts and are one of the top 10 richest men in the world. Warren Buffet is the 8th richest man in the world and is also known for his pledging and charitable works. The 90 year old billionaire has announced to resign from Bill and Melinda Gates Foundation. Let’s look at the reason behind it.
On 23 June 2021, the billionaire and the most famous investor in the world, Warren Buffet has announced that he is resigning from the Bill and Melinda Gates Foundation. He has donated more than half of his wealth towards donation and charitable purposes since he had pledged 15 years ago in order to give away his fortune by running Berkshire Hathaway Inc.
Why did Warren Buffet Resigned from Gates Foundation?
Warren Buffet did not provide any specific reason as to why he was stepping down from the position. He has said in a statement that he has been an inactive trustee of the organization for a very long time.
Warren Buffet has been resigning from the posts of all the corporate boards that he is part of other than Berkshire Hathaway. However, the decision to step down from the board of the Gates Foundation comes at an odd time when Bill Gates and Melinda Gates has announced to end their 27 years of marriage.
On the same day, Warren Buffet also announced that he has given away USD 4.1 billion worth of the shares of Berkshire Hathaway as part of his pledge to donate 90% of his wealth. Warren Buffet is halfway there while considering the most recent donation.
He conveyed that over many decades he has been able to gather a lot of wealth by just doing what he loves the most to do. He added that compound interest, a long runway, associates, and the country have worked their magic.
Warren Buffet has announced to donate USD 4.1 billion in shares to five different foundations which include Bill and Melinda Gates Foundation. However, it is estimated that the major share of the donation was given away to the Gates Foundation. The Gates Foundation has received around USD 3.2 billion and the total donation made by the billionaire is around USD 27 billion.
Warren Buffet’s donation also goes to another foundation named Susan Thompson Buffet Foundation which is run by the children of Warren Buffet Howard, Susan and Peter. The foundation is named after his late wife. The other two foundations where he has donated the shares are the Novo Foundation and the Sherwood Foundation.
Warren Buffet Net Worth
Bill and Melinda Gates on Warren Buffet Resigning from Gates Foundation
Bill Gates had conveyed in a statement about Warren Buffet’s resignation and said that, he is grateful for the great friendship with Warren Buffet and added that he would always have a sense of maintaining a deep accountability to Buffet.
Melinda Gates had also conveyed her message saying that, the teachings of Warren Buffet will help the foundation in charting a way forward.
Suzman had sent an email to the employees of Bill and Melinda Gates Foundation where he had discussed with Warren Buffet and Bill and Melinda Gates on how to strengthen the decision making and governance and added that he would share more information about it in the month of July.
He said that he has been discussing about long-term stability and the sustainability about the Foundation due to the recent announcement of the divorce of Bill and Melinda Gates. He also added that he is fully concentrated on following the guidance provided by Warren Buffet in order to use to resources provided by Buffet, Bill and Melinda in the best way possible.
Conclusion
According to certain estimations and findings of the Forbes magazine, if Warren Buffet did not donate most of his wealth to charitable purposes he would have had a net worth that would be equal to the CEO of Amazon Jeff Bezos who is the world’s richest person.
FAQ
What companies do Warren Buffett Own?
Warren Buffett runs Berkshire Hathaway, which owns more than 60 companies, including insurer Geico, battery maker Duracell and restaurant chain Dairy Queen.
What is the net worth of Warren Buffett?
The net worth of Warren Buffett is estimated to be around 10,500 crores USD.
What is the purpose of Bill and Melinda Gates Foundation?
The Bill & Melinda Gates Foundation works to help all people lead healthy, productive lives. In developing countries, it focuses on improving people’s health and to lift themselves out of hunger and extreme poverty.
Russia has been forever known for the riches it keeps. Along with the bounties of nature that include numerous natural zones, amazing arctic deserts, transfixing tundra and taiga regions, broadleaved forests, mixed forests, semi-deserts, steppes, and deserts, Russia is equally blessed with billionaires.
The world’s largest country is also distinguished for being home to the wealthiest with Moscow comprising around 70 billionaires, next only to New York and Hong Kong. However, none of them are born rich, as you may say. Most of them have to steer hard to amass the fortune that they now boast of!
Here’s introducing you to the top 15 of the wealthiest people of Russia and a glimpse of their journeys:
Primary shareholder and Chairman of Severstal Net Worth: $29.1 BILLION Industry: Mining, metals, energy.
Alexey Mordashov
Alexey Alexandrovich Mordashov or simply called Alexey Mordashov is billed as the richest person in Russia, as per the latest 2021 list of Forbes magazine. Mordashov is the chairman of Severstal along with being the main shareholder of the company.
Severstal is one of the biggest Russian conglomerates with a diverse range of interests, mainly focused on metal, mining, and energy. Furthermore, Mordashov has also been the co-owner of Rossiya bank, 50% shareholder of Tele2 Russia, and also holds a quarter of the total shares of Power Machines, Russian energy systems machine-building company.
According to the Bloomberg Billionaires Index dated 9 April 2021, Mordashov is estimated to have a personal net worth of US$25.8 billion. This makes him the fourth-richest person in Russia, whereas Forbes declared him the richest Russian in the world, taking his family assets into consideration.
Mordashov was born to two Soviet steel mill workers on 26 September 1965, in Cherepovets, RSFSR, USSR (present-day Russia). He graduated from the Leningrad Engineering-Economical Institute, which is now known as ENGECON, with a bachelor’s degree. Later on, he went for an MBA from Northumbria University, Newcastle upon Tyne, England, and completed it in 2001.
Vladimir Potanin
Chairman and the largest stakeholder of Interros Net Worth: $27 BILLION Industry: Mining, Metals, Energy, Finance, and more.
Vladimir Potanin
Vladimir Potanin is known as the wealthiest man in Russia, next only to Alexey Mordashov according to Forbes. Bloomberg Billionaires Index deems him to be the 44th richest person in the world. This accumulation of wealth of Potanin, now distinguished as an oligarch, can be traced to the controversial “loans for shares” scheme.
Potanin is the chairman and the largest stakeholder of Interros. The company primarily deals with mining, metals, energy, finance, real estate, retail industry, and more. Furthermore, he is also the main investor of a private equity firm that owns the data solutions provider, ByteGrid.
Potanin is estimated to possess a net worth of around $27 billion, as per the Forbes 2021 list of Russian billionaires. In January 2018, Potanin also featured as one among 209 other individuals who are closely associated with the Russian president, Vladimir Putin, according to the US Treasury’s “Putin list”.
A major portion of Potanin’s wealth is now parked in the 35% stake he holds in Nornickel, a Russian mining company that is also known as the world’s largest producer of palladium and among the largest producers of nickel, platinum, and copper.
Vladimir Potanin was born in a high-ranking communist family of Moscow, the former USSR on 3 January 1961. He was a student of International economic relations at the Moscow State Institute of International Relations (MGIMO) and followed his father’s way to join FTO “Soyuzpromexport” with the Ministry of Foreign trade of the Soviet Union.
Vladimir Lisin
Chairman of Novolipetsk Steel Net worth: $26.2 BILLION Industry: Steel, Transport and logistics
Vladimir Lisin
Vladimir Lisin is counted as the third richest billionaire in Russia according to both Forbes Magazine and Bloomberg Billionaires Index. He serves as the chairman and holds the majority of the stakes of Novolipetsk. Novolipetsk is one of the largest steel companies in Russia and counted as one of the top 4 Russian steel companies. Lisin has published over 100 articles on economics and metallurgy, which includes 15 monographs.
Lisin’s business interests mainly focus on transportation and logistics along with steel. He is noted as a board member of some Russian metal producers, which includes NLMK, MMK and Sayansk, and Novokuznetsk Aluminium Plants. He also worked at the Karaganda Steel Plant, one of the four largest steel plants of Kazakhstan, as the deputy chief engineer and deputy general director.
Vladimir Lisin was born on 7 May 1956 in Ivanovo, Soviet Union. He got his first job in 1975 as a mechanic in a Soviet coal mine after which he went on to earn a diploma in metallurgical engineering from the Siberian Metallurgic Institute in 1979. He also completed his Postgraduate study in UKRNIIMET by correspondence and eventually received an MSc in Metal Engineering from the Central Research Institute of ferrous metallurgy, Moscow.
Vagit Alekperov
President of LUKOIL Net Worth: $24.9 Billion Industry: Oil
Vagit Yusufovich Alekperov
Vagit Yusufovich Alekperov is a businessman of Azerbaijani-Russian descent, who is presently noted as the 4th richest Russian billionaire. Bloomberg Billionaires Index lists him as the 5th wealthiest person in Russia and 94th richest person in the world. Along with being the President of LUKOIL, one of the chief oil companies of Russian, Alekperov is also known as the Chairman of the supervisory board of Basic Element Company.
Alekperov was born on 1 September 1950, Baku, Azerbaijan SSR to an Azerbaijani Muslim father, whereas his mother belonged to a Russian Orthodox family. Following his father’s footsteps, he was an oilman throughout his life, starting as a drilling operator.
He graduated from the Azerbaijan Oil and Chemistry Institute in 1974 and later on was promoted as the deputy head, first deputy general director, and general director in a range of companies he worked for. Alekperov was also appointed as the deputy minister of the Oil and Gas Industry of the Soviet Union, being the youngest deputy energy minister in the history of the Soviet Union.
Later on, he established Lukoil in the 1990s where he still retains around 30% of the shares of the Russian oil giant.
Leonid Mikhelson
CEO, Chairman, and a major shareholder of Novatek Net Worth: $24.9 Billion Industry: Oil and gas.
Leonid Mikhelson
Leonid Viktorovich Mikhelson is popularly known as the CEO, Chairman, and distinguished stakeholder of Novatek and the 5th richest person in Russian. Bloomberg Billionaires Index announces that his net worth is close to $24.9 billion and grants him as the 48th richest man in the world.
Mikhelson was born to an Ashkenazi Jewish family. After graduating with Industrial Civil Engineering from the Samara Institute of Civil Engineering in 1977, he started his career as an engineer.
He began his career as a foreman at a construction and assembling company operating in the Tyumen area of Siberia. Eventually, Mikheson became the Chief Engineer of Ryazantruboprovodstroy and the General Director of Kuibishevtruboprovodstroy, which was later renamed to NOVA, where he served as a Managing Director. Furthermore, he also became the General Director of its holding company Novafinivest, which was renamed to Novatek, as it is now known as!
Founder and owner of Volga Group Net worth: $22 BILLION Industry: Transport and energy
Gennady Timchenko
Gennady Nikolayevich Timchenko is primarily known as a Russian oligarch. He is one of the famous billionaire businessmen of Russia and credited as the founder and owner of Volga Group, which focuses on energy, transport, and infrastructural assets. Timchenko was previously the co-owner of Gunvor Group and also appointed as the Chairman of the Board of Directors of the Kontinental Hockey League.
Born in Leninakan, Armenian SSR, Soviet Union, on 9 November 1952 to a Soviet military father, he holds the citizenship of Finland, Armenia, and Russia. Timchenko learned German because of his 6 years’ stay in the German Democratic Republic.
He graduated from the Mechanical Institute of Saint Petersburg, previously called Leningrad, with electrical engineering and started his career as an engineer. Later on, he was promoted to senior engineer, deputy director and also co-founded Gunvor before he founded Volga Group.
Alisher Usmanov
Owner of MegaFon and USM Holdings. Net Worth: $18.4 BILLION Industry: Metal, Mining, Telecom, and investments
Alisher Usmanov
Alisher Burkhanovich Usmanov is known as one of the prominent Russian oligarchs, owner of MegaFon, USM Holdings, and a chief stakeholder of Metalloinvest. His primary business interests revolve around mining, metals, and the telecommunication industry.
Usmanov is also known as the owner of the Kommersant publishing house, co-owner of the Mail.Ru group, one of the largest internet companies in the world, and the chief investor of Digital Sky Technologies (“DST”) funds.
Born on 9 September 1953 in Chust, Usmanov was originally based out of Uzbekistan. His father was a state prosecutor but Usmanov always wanted to be a diplomat. Usmanov took his admissions in the Moscow State Institute of International Relations from where he graduated in 1976 with a degree in international law.
Andrey Melnichenko
The primary beneficiary of the EuroChem Group and SUEK Net worth: $17.9 Billion Industry: Coal and fertilizers
Andrey Melnichenko
Andrey Igorevich Melnichenko is a Russian industrialist and philanthropist, whom Forbes declares as the 8th wealthiest person in Russia with a net worth of $17.9 Billion, according to Forbes as well Bloomberg Billionaires Index. Along with being the primary beneficiary of EuroChem Group, Melnichenko is also the Member of the Board of Directors for both companies.
Melnichenko was born on 8 March 1972 in Gomel, Byelorussian SSR to parents who were teachers. He attended the Advanced Education and Science Centre, which is affiliated with the Lomonosov Moscow State University.
He became a student of the Faculty of Physics at Moscow State University later on in 1989. However, he again transferred to the Plekhanov Russian University of Economics, finally graduating in finance.
His entrepreneurial ventures started from his college days where he established several currency exchange booths that ultimately got the legal sanction in the form of MDM Bank after it gained the license from the Bank of Russia. Later on, he served as the majority stakeholder of EuroChem and the director of SUEK.
Pavel Durov
Founder of VK and the Telegram Messenger Net worth: $17.2 BILLION Industry: Social media, Telegram.
Pavel Durov
Pavel Valerievich Durov is an entrepreneur from Russia, who is best known as the founder of VK, a social networking website and the Telegram Messenger. He is also prominently known as the Zuckerberg of Russia, for his foundational venture of VK. Pavel Durov is also counted among the top 10 richest people from Russia with assets close to $17.2 billion as per the latest Forbes list of billionaires 2021.
Durov’s father Valery Semenovich Durov is a Doctor of Philological Sciences, the author of many scientific papers, and since 1992 he has been head of the department of classical philology of the philological faculty of Saint Petersburg State University.
Pavel Durov was born to Valery Semenovich Durov and Albina Durova on 10 October 1984, in Leningrad, Russian SFSR, Soviet Union. His father was the Doctor of Philological Sciences and the HOD of Classical Philology at the Saint Petersburg University.
Durov graduated with a first-class degree in Philology from the Saint Petersburg State University. Soon after he graduated, Durov founded VKontakte (VK) in 2006, which was initially influenced by Facebook and obtained a major success. He continued to serve as the CEO of the company until 21 April 2014, when he was dismissed and soon after that he founded Telegram.
Suleiman Kerimov & family
Businessman, Politician, and Philanthropist Net Worth: $15.8 Billion Industry: Investments
Suleiman Kerimov
Suleyman Abusaidovich Kerimov is distinguished as a billionaire businessman of Russia and counted as one of the top 10 richest persons living in Russia. According to the latest estimation, Forbes declared that the total assets of Kerimov amount to $15.8 Billion.
Kerimov has represented the Republic of Dagestan in the Federation Council of Russia since 2008. In April 2018, he was placed under sanctions by the Treasury department of the United States. Kerimov was eventually appointed as the head of Soyuz-Finans and made strategic investments with Nafta Moskva, Gazprom, Sberbank, JSC Polymetal, and other organizations to amass the wealth he now possesses. Though his investment banks got a major hit in 2008, he betted on Polyus Gold to bring back his fortune.
Suleiman Kerimov was born on 12 March 1966, Derbent, Dagestan, USSR, and was a student in the Civil Engineering Department at Dagestan Polytechnic Institute, from where he graduated in 1984. After completing a brief military service for the Soviet Army Kerimov acquired a degree in financial accounting and economics in 1989.
He was appointed as the Deputy Chairman of DSU’s Trade Union Committee while he was studying. It was at the same university that Kerimov first met his wife, Firuza.
Co-founder of Alfa-Group Net Worth: $15.5 Billion Industry: Oil, gas, banking, and finance
Mikhail Fridman
Mikhail Maratovich Fridman is a popular Russian business magnate and the co-founder of the Alfa-Group, an MNC Russian conglomerate. Forbes declared Fridman as the seventh richest Russian back in 2017, however, he ranks 11th now as per the 2021 Forbes list of Russian Billionaires.
Mikhail Maratovich Fridman was born on 21 April 1964 in Lviv, Ukraine, USSR where he spent most of his youth while still in Lviv, he graduated from high school in 1980.
After he was denied entrance to Moscow’s top physics colleges because of his Jewish ancestry, he went to attend the Moscow Institute of Steel and Alloys. Fridman worked on a range of jobs including washing windows during his college days, after which he started his career as a metallurgical design engineer. Fridman founded a window-washing business in 1988.
He kept expanding his business by opening a rental agency, computer selling company, and more and eventually co-founded Alfa-Photo, which became a major hit, growing to Alfa Group Consortium later on. Furthermore, in 1991 Fridman co-founded Alfa-Bank, which is still noted as one of the largest among the private banks in Russia.
Roman Abramovich
Businessman, Politician Net Worth: $14.5 Billion Industry – Investment
Roman Abramovich
Roman Arkadyevich Abramovich is a billionaire businessman and politician of Russian-Israeli descent. Forbes placed him in the 11th position while ascertaining the richest Russian billionaires in 2021, with a net worth close to $14.5 billion. Abramovich features as the 113th richest person in the world according to the latest Bloomberg list of billionaires.
Abramovich is known as the chief owner of Millhouse LLC, a private Russian investment company and outside Russia, Abramovich is popular as the owner of the football club, Chelsea F.C. He was also appointed as the Governor of Chukotka Autonomous Okrug between 2000 and 2008.
Roman Arkadyevich Abramovich was born on 24 October 1966 to a Jewish family, originally from Tauragė, Lithuania. However, after losing his parents when he was only 4 years old, Abramovich was raised in Russia by his relatives. Though his critics label him as an oligarch, Abramovich is well-known for his massive donations for the construction of schools, hospitals, and infrastructures in Chukotka.
Tatyana Bakalchuk
CEO and Founder of Wildberries Net worth: $13 Billion Industry: Retail
Tatyana Bakalchuk
Tatyana Vladimirovna Bakalchuk is primarily known as the founder and CEO of Wildberries, the largest online retailing brand of Russia, and grew to be a self-made billionaire, being the first such woman in Russia.
Tatyana Bakalchuk was born in Moscow Oblast, the Soviet Union on 16 October 1975 and graduated from Kolomna University. She began her career as an English teacher and founded Wildberries in 2004, while on maternity leave. The company was valued at $1 billion in 2019, which made her the richest woman in Russia.
Mikhail Prokhorov
Former owner of Brooklyn Nets, Former Net worth: $11.4 Billion Industry: Businessman, Politician
Mikhail Prokhorov
Mikhail Dmitrievitch Prokhorov is one of the prominent Russian billionaires along with being a noted politician. He is also known as the former owner of the Brooklyn Nets, a professional basketball team based out of Brooklyn.
Prokhorov was born in Moscow on 3 May 1965 to Tamara and Dmitri Prokhorov. He graduated from the Moscow Finance Institute and went on to work in the financial sector. Prokhorov eventually emerged as one of the leading Russian industrialists, with a majority of stakes in the precious metals sector across a range of multinational corporations.
He partnered with Potanin to acquire a significant portion of shares of Norilsk Nickel, which eventually became the world’s largest producer of nickel and palladium. Prokhorov is also known as the former chairman of Polyus Gold, and the former President of Onexim Group but resigned from both positions to enter politics in June 2011. Forbes’ latest list of Russian billionaires estimates Prokhorv’s net worth to be around $11.4 Billion.
Prokhorov contested as an independent candidate in the 2012 Russian presidential election and was third in the voting. In June 2012, he founded his new Russian political party, Civic Platform.
Chairman of Magnitogorsk Iron and Steel Works Net worth: $11.2 Billion Industry: Metal, Steel
Viktor Rashnikov
Viktor Filippovich Rashnikov is an oligarch and counted among the top 15 of Russia’s richest people. Most of his wealth can be attributed to the privatization of Russia as an immediate aftermath of the Soviet Union, which dissolved in the 1990s. Furthermore, he also made his wealth with the majority stakes that he holds of Magnitogorsk Iron and Steel Works, one of the largest steel producers in the world.
He is also the owner of Ocean Victory, a superyacht that was the 10th largest yacht in the world when it was constructed in 2014.
Rashnikov started his career as a fitter in 1967 in the repair shop of the Magnitogorsk Iron & Steel Works (MMK) in the company’s repair shop and after which Rashnikov never looked back.
He held numerous management positions of MMK and gradually moved up the company’s hierarchy, including the post of the Head of Production and Products Supply until 1991, when he was finally made Chief Engineer and First Deputy General Director for the firm. He rose to the rank of General Director at MMK in 1997 and was finally appointed as the Chairman of the Board in 2005, a designation he still retains.
Rashnikov was born on October 13, 1948, in Magnitogorsk, USSR (now in Russia). He went to the Magnitogorsk Institute of Mining and Metallurgy to complete his bachelor’s degree in 1974. Furthermore, he got another degree in the Organization of Production Administration, when he graduated from that program in 1994.
Rashnikov received his doctorate, which he aimed for, in Technical Sciences in 1998. He was also appointed as an Honored Professor at the Moscow Institute of Steel and Alloys in 2002. Rashnikov still holds a position at the Russian Academy of Quality Problems as an Academician.
FAQ
How many billionaires live in Moscow?
There are approximately 68 billionaires in Moscow, Russia.
Which country has most billionaires 2020?
United states has most number of billionaires according to Forbes.
How many billionaires are there in Russia?
There are approximately 101 billionaires in Russia.
Elon Musk had always been in the lime light and lately has been facing a lot of criticism due to the cryptocurrency market as well as questions raised on his sustainability projects. The most recent criticism faced by him was about non payment of taxes and very little payment of taxes.
However, any tweet posted by Elon Musk had always been the headlines of the news, even the recent tweet as well. Elon Musk had gone to Twitter and tweeted that he would want to sell his last remaining house. Let’s look at why he would want to sell his house.
The Chief Executive Officer of Tesla, Elon Musk had conveyed through Twitter that he is going to sell his last remaining house. The tweet was posted on 9 June 2021 which is a week after Elon Musk and other billionaires were criticized for the payment of their tax returns.
Yeah, sold my houses, except for 1 in Bay Area that’s rented out for events.
Working on sustainable energy for Earth with Tesla & protecting future of consciousness by making life multiplanetary with SpaceX. Also, AI risk mitigation with Neuralink & fixing traffic with Boring.
Elon musk said that he had decided to sell his last remaining house and added that it is a special place and would want to find a large family who would want to live there.
He conveyed that he had only one house left in the San Francisco Bay area which is being rented out for events to be held and added that if he would sell it, the house would see a lesser use until and unless it is bought by a large family.
Elon Musk had mentioned through his tweet which said that he had sold all his property and houses and there was only one left in the Bay area of San Francisco which is actually rented out for events to be held.
He further added in his tweet that he is working on sustainable energy on Earth with the help of Tesla, protecting the future of consciousness by trying to make life multiplanetary by working on SpaceX, working on AI risk mitigation through Neuralink and fixing the traffic faced with The Boring Company.
The Chief of Tesla, Elon Musk had announced about his plans to sell his property more than a year ago. This was a step taken by the him in order to cut down the criticism he faced regarding his wealth. However, it was found the within the span of few days he had put two of his properties for sale in the market.
One of the major reasons was because at the beginning of June 2021 Elon Musk, CEO of Amazon, Jeff Bezos and the Chairman of Berkshire Hathaway. Elon Musk had been criticized for paying a very little amount as Income Tax returns when compared to the wealth they possess. This was regarding the citing of valuable resources by the Internal Revenue Service Data on Tax returns for the thousands of Wealthiest Americans.
It was found that Elon Musk had paid no income taxes in the year 2018 and had paid around USD 70, 000 in the years 2015 and 2019. After the report from Pro Publica, Elon Musk had conveyed that he would keep paying the Income Tax in the state of California with regards to his stay in the place.
Elon Musk’s house in Boca Chica
Elon Musk had moved from California to Texas the previous year and conveyed that he rents a property which is estimated to be around USD 50,000. It is a house in Boca Chica from the Space Exploration Technologies Corp and also has a launch site in the area.
Conclusion
Elon Musk had been criticized for an innumerable amount of reasons lately and the most effective was the video that was released by the Anonymous group which had exposed a lot of controversies against the billionaire.
FAQ
Why Elon Musk sold his houses?
One of the reasons that Elon Musk sold his houses could be to cut down the criticism he faced regarding his wealth.
What is the Net worth of Elon Musk?
The estimated net worth of Elon Musk is 15,320 crores USD.
How much is Elon Musk’s house worth?
Elon Musk sold a contemporary 9.309-square-foot mansion with six bedrooms and seven bathrooms for $29.72 million. He also sold a Colonial-style home for $6.77 million, and a third small property for $4.43 million.
The trend of the luxurious yacht has been running for a long time. The billionaires often celebrate their glory of money with the finest yacht of all time. Today, there are tons of yachts with the most incredible, unique and luxurious design and outlines.
Every yacht has its distinctive styling in the ocean of amenity. And these luxurious yachts are owned by tons of billionaires and millionaires. These could get you to escape from the chaos of the world and take you in the ocean on a cruise with luxury in hand.
This all began in 1945 with the tremendous Greek shipping tycoon, Aristotle Onassis. He transformed a Canadian anti-submarine frigate, HMCS Stormont, into an indulgence yacht and named it- the Christina O, after his daughter. And today, almost every billionaire is engaged in the era of building & buying the fastest, biggest, most luxurious and impressive yachts.
The yachts are evolving with tremendous characteristics like bulletproof windows, marina power connectors, solid gold panelling, a miniature landmark from different countries, helicopters power connection and many more. In this article, we have listed some of the luxurious yachts owned by billionaires.
The world’s most luxurious and expensive yacht, History Supreme is known as the largest and superyacht of all times. It is owned by Robert Kuok and is worth $4.8 billion. History Supreme took three years to build with a length of 100 feet. 10,000 kilograms of gold and platinum was used in this yacht.
History Supreme has an amazing statue which is made of Tyrannosaurus Rex bones together with a meteorite rock wall and a Aquavista Panoramic wall aquarium which is made up of 68 kg & 24 carats of gold.
Eclipse
Owned by: Roman Abramovich Price: $1.5 billion
Eclipse owned by Roman Abramovich
Eclipse is known as the second most luxurious and largest yacht across the world. Eclipse is built by Voss and Blohm and well designed by Terence Disdale. It cost around $1.5 billion and is owned by Roman Abramovich. The construction of this yacht is of around 533 foot.
Eclipse has several features like two helipads, a system for intruder detection missile, armor plating, Submarine, hot tubs, 24 guest cabins, bulletproof windows, dance hall and many more.
Azzam
Owned by: A Member of Dubai’s royal family Price: $600 million
Azzam owned by Dubai’s Royal Family
Azzam, a very luxurious yacht that is owned by one of the members of Dubai’s Royal Family. It cost around $600 million with incredible features. Azzam is known as the fastest luxurious yacht that has a height of 590 feet and a great french design. Azzam’s interiors are designed by Christophe Leonie. Azzam is well designed with a touch of french.
Nord is known as Gigayacht (the world’s largest yacht), which is around 450 feet long and the newest yacht. It is currently under trial training in the Baltic Sea. Nord is beautifully designed by Nuvolari Lenard, he is responsible for both exterior and interior of the yacht.
Nord includes many great features like Spa and sauna, beach club, swimming pool, fitness centre, two helipads, elevator and Jacuzzi.
Radiant
Owned by: Abdulla Al Futtaim Price: $320 Million
Radiant is owned by Abdullah Al Futtaim
Radiant is the perfect yacht to make you feel at home, even by being away from home. It’s absolutely luxurious and holds everything that a penthouse is expected to have. Radiant has numerous features such as a beach club, helipads, swimming pools, full-featured gym, movie theatre, massage room, helicopter and a jacuzzi on its deck.
Radiant is owned by the top billionaire of Dubai, Abdullah Al Futtaim and is price at $320 million. Radiant is absolutely tremendous with great features.
Ocean Victory
Owned by: Viktor Rashnikov Price: $300 million
Ocean Victory owned by Viktor Rashnikov
Ocean Victory is a prominent yacht built by Fincantieri in 2014. It’s interior is well designed by Alberto Pinto and Laura Sessa Romboli. Ocean Victory is owned by one of the top Russian billionaire, Viktor Rashnikov.
Ocean Victory holds many great notable luxuries such as a beach club, 6 swimming pools, and an underwater room for observation. It holds the capacity of 50 crew together with 26 guests.
The superyacht- Dilbar was built by Lürssen Yachts in 2008. It is counted among the world’s largest boats with a height of 360.89 feet. Dilbar is owned by a Russian Oligarch Alisher Usmanov with a price of $256 million.
Dilbar has many luxuries such as a helipad, swimming pools, and many more. It holds the capacity of 20 guests and 48 crew members.
Seven Seas
Owned by: Steven Spielberg Price: $200 million
Seven Seas owned by Steven Spielberg
Seven Seas, the well designed customer-built beautiful yacht by Oceanco in 2010 at Alblasserdam, Netherlands. The yacht is around 282.15 feet in height and a tonnage of 2750 tonnes. It holds the capacity of 14 guests and 23 crew members.
Seven Seas has a top speed accelerating of 15 knots. Its exterior and interiors are beautifully designed by Nuvolari and Lenard and is owned by the well known American film director – Steven Spielberg .
Amevi
Owned by: Lakshmi Mittal Price: $125 million
Amevi owned by Lakshmi Mittal
Amevi, the yacht with the features of 80 meters of length, On-deck Jacuzzi, Tender Garage, Helipad, Swimming Pool, 8 different Guest cabins and a top speed of 18.5 knots. It is owned by the famous Indian steel tycoon, Lakshmi Mittal who is the CEO and chairman of ArcelorMittal.
Amevi is built by the Oceanco Shipyard. The yacht was launched in the year 2007 and cost around $124 million in the construction process.
Lady Beatrice
Owned by: David Barclay and Frederick Barclay Price: $30 million
Lady Beatrice owned by Barclay Brothers
The very famous Lady Beatrice was built by Royal Van Lent together with Feadship in 1993. The yacht has tons of great features like Monaco home port, named after Beatrice Cecelia Taylor (mother of the owner), length of 60 metres, 8 guest cabins and a top speed of 18 Knots.
Lady Beatrice is owned by the Barclay Brothers- Sir David Barclay and his late brother Sir Frederick Barclay. They bought the yacht at the price of $30 million.
Conclusion
Among the billionaires, expensive and luxurious yachts have been in trends for a very long time. Billionaires are eager to buy a yacht with great notable amenities and features. And to this day, tons of billionaires own some of the top yachts built by great dedication and function.
Billionaires tend to buy the yacht with the great features of the greatest, largest and fastest yacht in the world. And they are ready to spend a handsome amount of money on it.
FAQ
Who owns the most expensive yacht in the world
The Worlds most expensive yacht History Supreme which is worth $4.8 billion is owned by Robert Kuok.
Does Bill Gates have a yacht?
Bill Gates does not own a yacht but he prefers to rent super yachts rather than buy his own.
Does Jeff Bezos own a yacht?
Yes, Jeff Bezos owns a yacht which is estimated to be more than $500 million. The details of the vessel have largely been kept under wrap.
Alan Joseph
