Why do tech startups turn people into billionaires?

Forbes rankingThese are the richest billionaires in tech

Almost 16 percent of the world's billionaires' wealth comes from the technology sector. That equates to around $ 1.4 trillion in private wealth. In view of the corona pandemic, the industry has also shrunk. Digital services are in great demand in times of contact restrictions. Tech stocks and the corporations behind them are not immune to stock market crashes like the slump at the end of March.

According to the US business magazine Forbes, the share price developments in March have meanwhile more than halved the wealth of the industry. Nevertheless, she has 26 newcomers in the new billionaire ranking. With 241 super-rich, the industry accounts for more than a tenth of all 2095 billionaires worldwide. And even the traditional tech magnates can defend their position at the top of the industry despite the crisis. Some of them have even increased their fortunes again thanks to the rising share prices since March.

These are the ten richest tech billionaires

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# 10 MacKenzie Bezos

MacKenzie Bezos is on the list of the richest tech billionaires for the first time. Her fortune amounts to 36 billion US dollars and comes in large part from the Amazon shares, which she has held since the divorce from ex-husband and CEO Jeff. She has owned around a quarter of the Group's shares since the divorce.

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# 9 Ma Huateng

In China, Ma Huateng is considered the second richest billionaire in the country with a net worth of $ 38.1 billion. In the tech industry, the Tencent co-founder is ninth. Tencent is the largest Internet company in the People's Republic. In addition to stakes in well-known game manufacturers such as Activision (“Call of Duty”, “World of Warcraft”), the group also holds shares in several billion-dollar start-ups. These include the messenger app Wechat and minority stakes in Spotify and Snap.

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# 8 Jack Ma

Since last year, Alibaba co-founder Jack Ma's net worth has grown by $ 1.5 billion. It currently stands at $ 38.8 billion. This puts him at the top of the richest billionaires in China and number 17 worldwide. In September 2019, Jack Ma retired from the post of CEO at the helm of the e-commerce giant. His assets include stakes in fintech Ant Financial and entertainment companies Huayi Brothers and Beijing Enlight Media.

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# 7 Sergey Brin

As of March 18, the tech billionaires' deadline, Google co-founder Sergey Brin's net worth had shrunk to $ 49.9 billion. In December, Brin resigned from the helm of Google's parent company Alphabet. Brin is still active as a majority owner on the board. When Alphabet shares picked up speed again between the end of March and the end of May, Brin's net worth climbed again. At the end of May it was $ 61.3 billion.

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# 6 Larry Page

Brin's long-time partner and Google co-founder Larry Page also stepped down as Alphabet CEO in December. Together with Brin, he is still active on the board. Since last year, his net worth has grown by $ 100 million. That puts it just above that of Sergey Brin's at $ 50.9 billion. By May, his fortune climbed even further - to 63.6 billion US dollars.

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# 5 Steve Ballmer

After resigning as Microsoft CEO for many years, Steve Ballmer devoted himself to sports, more precisely to basketball. He has owned the Los Angeles Clippers team for six years. In comparison to the previous year, Ballmer was able to increase his fortune again. At $ 52.9 billion, it ranks eleventh in Forbes' ranking of the richest billionaires in the world. He's one of the top five tech billionaires.