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Tech billionaires are worth a combined $2.5 trillion, far outpacing the next-best-performing industries, fashion and retail ($1.7 trillion) and finance and investment ($1.5 trillion). Stock markets have rebounded in a big way since the Covid crash that began in February 2020, helping boost the fortunes of the world’s billionaires to record highs. But no group of the ultrarich has benefited like tech billionaires—who are worth a combined $2.5 trillion on Forbes’ 2021 World’s Billionaires list, up about 80% from $1.4 trillion a year ago.
This year Forbes found 365 billionaires with fortunes in technology, up from 241 last year. It’s the industry with the second-largest number of billionaires after finance and investments—with 371 billionaires. But the total fortunes of its ultrarich far exceeds that of any other sector. Tech billionaires’ $2.5 trillion in collective net worth outpaces the $1.7 trillion total for fashion and retail and the $1.5 trillion total for finance and investments fortunes.
A key reason for technology’s dominance comes from the top-heavy nature of the list. The 20 richest tech titans alone are worth a combined $1.2 trillion, nearly 50% of the total net worth of all the billionaires in their industry. And tech tycoons account for 8 of the 20 wealthiest people in the world, including 6 of the top 10.
While the United States is still home to most of tech’s wealthiest billionaires, China’s fast-growing internet sector has propelled a new generation of tech moguls toward the top. Of the 20 richest in tech now, 9 hail from China, up from 6 last year.
Read the full profile on Forbes: https://www.forbes.com/sites/kenrickcai/2021/04/06/here-are-the-richest-tech-billionaires-in-2021/?sh=5307304d704f
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