Look: 5 richest people in the world get richer, double wealth since 2020

A report published by Oxfam International found that the richest men in the world increased their wealth at a rate of $14 million per hour since 2020.

Five of the richest men on Earth increased their wealth by more than double in the last three years, the report revealed. Oxfam added, “The world will have its first trillionaire within a decade but poverty won’t be eradicated for another 229 years.”

Tesla and SpaceX's CEO Elon Musk has a net worth of $202 billion as of February 1. While he doubled his wealth since 2020, he is also the only one in the top 11 richest people who lost money in the last year, giving up his richest person rank twice to LVMH chairman Bernard Arnault.

LVMH group CEO Bernard Arnault has a net worth of $183 billion on February 1, on the Bloomberg Billionaires’ Index.

Amazon founder Jeff Bezos is close behind Arnault with $180 billion. He stepped down as CEO in early 2021, but holds the position of executive chair, and is the company’s biggest shareholder.

Oracle cofounder Larry Ellison, who is the ninth richest person in the world, has a net worth of $126 billion. His wealth increased by $3.3 billion over the past year.

Warren Buffett, Chairman and CEO of Berkshire Hathaway, has a net worth of $128 billion with an increase of $7.75 billion in the year ending February 1.

While he didn't get a mention on the Oxfam list of richest men who doubled their wealth, Meta co-founder and CEO Mark Zuckerberg recorded the highest year-to-date (YTD) increase in wealth, among the 10 richest people, at $12.8 billion as of February 1. His net worth stands at $141 billion.