In this article, we will look into the 25 richest billionaires in finance and investments industry. If you want to skip our detailed analysis, you can go directly to the 5 Richest Billionaires in Finance and Investments Industry.
Global Finance Market: Major Trends
According to a report by Forbes, 2024 promises to be a pivotal year for the financial services and banking sector. The major trend in the market is the integration of Artificial Intelligence in banking and finance functions, which includes but is not limited to customer service chatbots, development of financial plans with the help of AI models, and reshaping financial management tools. With the recovery of Bitcoin, fintech is gaining traction in the market. Banks in more than 130 countries are exploring their own digital currencies. The financial services sector will also be leveraging technology-integrated customer experience, utilizing VR to interact and engage with customers in 2024.
A leading fintech startup, Ramp specializes in expense management, procurement, and vendor management among other services. It also powers the fastest-growing corporate card platform in America. Ramp helps businesses and enterprises streamline their finances and operations through its platform. On April 17, Reuters reported that Ramp secured $150 million in funding in a funding round led by Khosla Ventures and Founders Fund, which grew its valuation to $7.65 billion. This investment will drive the expansion plans of the company which include growing its workforce and enhancing its AI functionalities.
Another notable trend in the market is sustainable finance. Financial corporations and institutions are prioritizing ESG by introducing new products catering to customers’ investment needs. On March 1, Reuters reported that Banco Bilbao Vizcaya Argentaria, S.A. (NYSE:BBVA) is planning to expand into a sustainable business model, by setting up a financial unit focused on clean technologies. In 2022, Banco Bilbao Vizcaya Argentaria, S.A. (NYSE:BBVA) raised its sustainable finance target of 200 billion euros to 300 billion euros through 2025. The company also aims to decarbonize its portfolio and operations. In 2021, Banco Bilbao Vizcaya Argentaria, S.A. (NYSE:BBVA) decided that it would stop financing companies in coal-related operations by 2040.
Top Companies Led by Billionaires in the Finance and Investment Industry
Some of the richest billionaires in the finance and investment industries have founded the biggest finance and investment companies in the world. Blackstone Inc. (NYSE:BX), Bloomberg LP, and Binance Holdings Limited are among the prominent names in the industry owned by billionaires.
Blackstone Inc. (NYSE:BX) is a leading asset management company, involved in private equity, hedge fund solutions, credit, public debt and equity, and real estate. The company provides investment services to both individuals and institutions and typically engages in the investment of early-stage companies. On April 24, Blackstone Inc. (NYSE:BX) agreed to acquire a leading franchisor, Tropical Smoothie Cafe, from Levine Leichtman Capital Partners.
Bloomberg LP is a leading finance and business company, that provides economic, financial, and computerized information. It connects communities across the global financial ecosystems by providing technology solutions that help customers make informed decisions. The company also provides a wide range of datasets including, finance datasets, markets datasets, pricing datasets, and ESG datasets, among others. On April 23, Bloomberg announced that it has allied with Amazon Web Services (AWS) to provide cloud-based access to its finance connectivity solutions, FIX and SWIFT.
FIX connects a company’s order and execution to Bloomberg’s broker destinations. With AWS integration, customers will now be able to access all 1,600 sell-side counterparties. Whereas, SWIFT provides affordable and scalable infrastructure and monitoring tools. This partnership will provide financial institutions with a reliable and efficient way to connect.
Binance Holdings Limited is an online cryptocurrency exchange company, which allows buying, selling, and trading digital assets. The company is owned by one of the richest billionaires in the finance and investments industry, Changpeng Zha0. On April 11, the company announced that its venture capital and incubation arm, Binance Labs, has made an investment in a Bitcoin restaking and CeDeFi protocol, BounceBit. This will help expand its capabilities beyond its traditional storage value. By actively participating in network validation and multiple yield-generating activities, it aims to transform BTC into a more dynamic asset.
Now that we have discussed the finance market and talked about the companies owned by the billionaires on our list, let’s have a look at the 25 richest billionaires in the finance and investments industry.
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Methodology
To compile our list of the 25 richest billionaires in finance and investment industry, we consulted the real-time billionaire ranking by Forbes. Our list ranks the 25 richest billionaires in finance and investment industry in ascending order of their net worth, as of April 27.
25 Richest Billionaires in Finance and Investments Industry
25. Andrew Beal
Net Worth (2024): $11.7 billion
Andrew Beal is ranked among the richest billionaires in the finance and investments industry. He owns the leading financial company, Beal Financial Corporation, which is responsible for the management of over $40 billion in assets. His net worth is $11.7 billion, as of April 27.
24. Uday Kotak
Net Worth (2024): $12.3 billion
Uday Kotak founded a financial services company in 1985, which later converted into a bank, Kotak Mahindra Bank (NSE:KOTAKBANK). It is one of the largest banks in India. As of April 27, Kotak is worth $12.3 billion.
23. Israel Englander
Net Worth (2024): $12.4 billion
Israel Englander is the founder of the hedge fund firm, Millenium Management. He established the company in 1989 with $35 million, now the company manages assets worth $58 billion. He has a net worth of $12.4 billion.
22. George Roberts
Net Worth (2024): $12.5 billion
George Roberts is a cofounder of the equity firm, KKR. He launched the company with Herny Kravis and has worked as the CEO of the company. In October 2021, he gave up his role as CEO. Currently, he serves as the executive chair of KKR. He has a net worth of $12.5 billion and is one of the richest billionaires in the finance and investments industry.
21. John Doerr
Net Worth (2024): $13.3 billion
John Doerr is the chairman of the venture capital firm, Kleiner Perkins. Doerr joined the company in 1980 and led the firm into Alphabet Inc. (NASDAQ:GOOG), in 1999 with an investment of $12.5 million. Doerr’s fortune is worth $13.3 billion, as of April 27.
20. Leon Black
Net Worth (2024): $14.3 billion
Ranked 20th on our list, Leon Black is the co-founder of Apollo Global Management, Inc. (NYSE:APO), a private equity firm managing $600 billion in assets. His net worth is valued at $14.3 billion, as of April 27.
19. Ray Dalio
Net Worth (2024): $15.4 billion
Ray Dalio is ranked 19th on our list. He is the founder of Bridgewater Associates, one of the biggest hedge funds with $124 billion under management. As of April 27, his net worth is $15.4 billion.
18. Renata Kellnerova & family
Net Worth (2024): $17.6 billion
Renata Kellnerova and her family own the PFF Group conglomerate with $44 billion in assets. She also chairs The Kellner Family Foundation, which focuses on education. Their net worth is $17.6 billion, as of April 27.
17. Michael Platt
Net Worth (2024): $18.0 billion
Micheal Platt is the CEO and co-founder of the leading hedge fund, BlueCrest Capital Management. Before that, Platt worked at JPMorgan Chase & Co. (NYSE:JPM) for a decade. His company has managed more than $35 billion in assets at its peak. His net worth is $18 billion, as of April 27.
16. Vicky Safra & family
Net Worth (2024): $19.4 billion
Vicky Safra and family inherited their fortune from Joseph Safra, a leading banker who passed away in 2020. They are among the richest billionaires in the finance and investments industry, with a net worth of $19.4 billion.
15. Steve Cohen
Net Worth (2024): $19.8 billion
Steve Cohen is one of the richest billionaires in the finance and investments industry. Cohen owns Point72 Asset Management, a hedge fund with over $41 billion in 13F securities, as of Q4 2023. He has a net worth of $19.8 billion, as of April 27.
14. David Tepper
Net Worth (2024): $20.6 billion
David Tepper is the founder of Appaloosa Management, a leading hedge fund. He has a net worth of $20.6 billion, as of April 27 and is ranked 14th on our list.
13. R. Budi Hartono
Net Worth (2024): $24.2 billion
R. Budi Hartono, along with his brother raised their fortune by investing in Bank Central Asia. He is ranked 13th on our list, with a total wealth of $24.2 billion as of April 27.
12. Daniel Gilbert
Net Worth (2024): $25.6 billion
Daniel Gilbert is one of the richest billionaires in the finance and investments industry. He is the co-founder of one of the largest mortgage lenders in the US, Quicken Loans. He founded the company in 1985, at the age of 22 years. The company went public as Rocket Companies, Inc. (NYSE:RKT) at a value of $36 billion, in 2020.
11. Andrea Pignataro
Net Worth (2024): $26.9 billion
Ranked 11th on our list, Andrea Pignataro is the CEO and founder of the leading financial data company in London, ION Group. The Italian billionaire founded the company in 1998 while working as a bond trader. His net worth is $26.9 billion, as of April 27.
10. Masayoshi Son
Net Worth (2024): $26.9 billion
Masayoshi Son is the founder of investment company, SoftBank Group Corp. (OTC:SFTBY). He has a net worth of $26.9 billion, as of April 27 and is ranked 10th on our list.
9. Jeff Yass
Net Worth (2024): $27.6 billion
Jeff Yass is the co-founder of a leading trading firm, Susquehanna International Group. With a net worth of $27.6 billion, Yass is one of the richest billionaires in the finance and investments industry.
8. Abigail Johnson
Net Worth (2024): $28.6 billion
Abigal Johnson is one of the richest billionaires in the finance and investments industry. Johnson has been serving as the CEO of Fidelity Investments since 2015 and as the chairperson since 2016. Her net worth is $28.6 billion, as of April 27.
7. Jim Simons
Net Worth (2024): $31.4 billion
Jim Simons founded a quantitative trading hedge fund company in 1980. The company manages nearly $50 billion in assets. Simons retired in 2010, however, he still plays a role at the company and benefits from its funds. As of April 27, he has a net worth of $31.4 billion.
6. Changpeng Zha0
Net Worth (2024): $33.0 billion
Changpeng Zhao is ranked 6th on our list of the richest billionaires in the finance and investments industry. He is the founder and former CEO of the largest cryptocurrency exchange, Binance. As of April 27, his net worth is $33 billion.
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Disclosure. None. 25 Richest Billionaires in Finance and Investments Industry is originally published on Insider Monkey.