For one, there are new faces at the top of the leaderboard that were never there before. One of the most obvious changes though, is that the richest billionaires have accumulated a lot more wealth in recent years. Using annual data from Forbes on the richest billionaires, we’ve visualized the wealth and ranking of the top 10 billionaires over the past decade.
Who are the World’s Richest Billionaires?
While the pecking order has fluctuated, the leaderboard remains very exclusive. Out of a possible 10 spots, there are only 19 individuals that have made the list over the last decade. Here’s the current list of richest billionaires in 2022, including when they first made the list (if in the last decade): *Billionaires with “-” first made the list at an earlier date. Example: Mukesh Ambani made the 2008 list. Microsoft co-founder turned philanthropist, Bill Gates, is a perennial presence at the top of these lists. Gates is currently at his lowest rank over this time period, but is still in fourth spot. The billionaire has pledged to give away nearly all of his fortune to the eponymously named Bill & Melinda Gates Foundation. Today, Elon Musk is the world’s richest person.
The Rich Get Richer
Over time, the median net worth of the richest billionaires has grown significantly. Most fortunes are held in the form of business equity, real estate, and publicly-traded stocks—all asset classes that have benefited from the era of cheap money and ultra-low interest rates. Over the decade period, the median net worth of the top 10 billionaires has nearly tripled from $39 billion to $115 billion. In fact, the first billionaire to pass the $100 billion threshold was Jeff Bezos in 2018, when he took the top spot on the list from Bill Gates. However, now all but two on the top 10 wealthiest list are centibillionaires. on To see how the minimum wage differs around the world, we’ve visualized data from Picodi, which includes values for 67 countries as of January 2023.
Monthly Minimum Wage, by Country
The following table includes all of the data used in this infographic. Each value represents the monthly minimum wage a full-time worker would receive in each country. Picodi states that these figures are net of taxes and have been converted to USD. Generally speaking, developed countries have a higher cost of living, and thus require a higher minimum wage. Two outliers in this dataset are Argentina and Turkey, which have increased their minimum wages by 100% or more from January 2022 levels. Turkey is suffering from an ongoing currency crisis, with the lira losing over 40% of its value in 2021. Prices of basic goods have increased considerably as the Turkish lira continues to plummet. In fact, a 2022 survey found that 70% of people in Turkey were struggling to pay for food. Argentina, South America’s second-biggest economy, is also suffering from very high inflation. In response, the country announced three minimum wage increases throughout 2022.
Minimum Wage in the U.S.
Within the U.S., minimum wage varies significantly by state. We’ve visualized each state’s basic minimum rate (hourly) using January 2023 data from the U.S. Department of Labor.
2023-03-17 Update: This map was updated to fix several incorrect values. We apologize for any confusion this may have caused. America’s federal minimum wage has remained unchanged since 2009 at $7.25 per hour. Each state is allowed to set their own minimum wage, as long as it’s higher than the federal minimum. In states that do not set their own minimum, the federal minimum applies. If we assume someone works 40 hours a week, the federal minimum wage of $7.25 translates to an annual figure of just $15,080 before taxes. California’s minimum wage of $15.50 translates to $32,240 before taxes. For further perspective, check out our 2022 infographic on the salary needed to buy a home across 50 U.S. cities.
