One of the most effective ways to build wealth is investing in the stock market. The markets are volatile though, requiring investors to be patient and manage their risk levels. Despite this, there are still a lot of opportunities to make a fortune in the long run. Here are some of the richest investors in the world right now.
Top 10 Wealthiest Investors
1. Warren Buffett – $121 Billion
Warren Buffet is a household name in the investing world. His illustrious track record of beating the market earned him the nickname “Oracle of Omaha.” His investing strategy is simple, investing heavily in great companies with a moat.
Generating returns is a lifelong passion for Warren. His first money-making ventures included selling chewing gum and Coca Cola bottles door-to-door. He used the money to buy pinball machines and rented them out when he was 14. He later expanded his financial knowledge by studying business administration and getting a master’s degree in economics.
With this, he became a millionaire by the age of 30. Despite his age, Buffett still serves as CEO of Berkshire Hathaway and remains the company’s largest stakeholder. With a $121 billion net worth according to Forbes, he is among the top ten richest people in the world.
2. Kenneth Griffin – $35.1 Billion
Ken Griffin is a successful entrepreneur and hedge fund manager. He launched his first fund in 1987 at just 19 years old and made a fortune shorting the market on Black Monday. In 1990, Griffin founded Citadel LLC and was managing $4.6 million in assets.
The fund returned over 40% in the first two years and in the early 2000’s he set up a market maker, Citadel Securities. By 2003, Ken was already on the Forbes 400 list with an estimated fortune of $650 million. Citadel LLC rebounded strongly from the financial crisis and was consistently profitable.
In 2021, Citadel Securities grabbed media attention for its role in the Gamestop frenzy. Allegedly they pressured brokerages such as Robinhood to halt trading on meme stocks. Nevertheless, Ken Griffin is a legitimate investor and is worth $35.1 billion.
3. Jim Simons – $30.7 Billion
The Quant King James Harris “Jim” Simons is regarded as one of the best money managers ever. He earned his success by mastering the principles of mathematics and applying them to financial markets. Simons used algorithms and models to profit from inefficient markets.
Despite having a brilliant career as a prize-winning mathematician and as a code breaker for the IDA, he chose to go into finance. At first, he didn’t consider using statistical data to invest but soon discovered he could gain an edge using it.
In 1978, the math wizard created the Monemetrics hedge fund. Simons eventually changed the name to Renaissance Technologies in 1982. Simons retired in 2009 and stepped down as chairman in 2021. After decades of beating the market, Jim Simons has a net worth of $30.7 billion.
4. Steve Cohen – $19.8 Billion
A majority of the richest investors made their wealth as long-term investors. However, Cohen is an outlier and made his money from short-term trading through his hedge funds.
Cohen is another product of Wall Street. He started his career there after getting an economics degree from the University of Pennsylvania’s Wharton School. Steve was a junior trader and developed into a business mogul. He founded his company S.A.C. Capital Advisors in 1992.
Unfortunately, his firm got in trouble with the SEC for insider trading and paid $1.8 billion in fines. Steve paid the fees and rebranded S.A.C. to Point72. Cohen’s $19.8 billion net worth comes from Point72’s investments in Western Digital, Visa, and Google.
5. Ray Dalio – $15.4 Billion
As seen in his highly-rated book, “Principles: Life and Work,” Ray Dalio is an established thought leader in economics. Many people credit his unconventional management style, which demands total honesty, responsibility, and transparency.
He started investing at 12 years old and after graduating from high school, he was managing a few thousand dollars. Dalio graduated from Harvard Business School with an MBA in 1973 and founded Bridgewater Associates two years later.
Bridgewater was ranked the world’s largest hedge fund in 2013, and it has remained in the top three since. Some of Bridgewater’s top-performing positions include Google, Mastercard and Facebook. Ray Dalio is currently worth $15.4 billion and recently announced he is stepping down as the chairman of Bridgewater Associates.
6. Paul Tudor Jones – $8.1 Billion
Paul Tudor Jones II considers himself more of a trader than an investor. He is also a conservationist and carefully plans his moves. Jones very rarely engages in activities that make him feel uneasy and cuts losing positions if they are impacting him emotionally.
He got a degree in economics from the University of Virginia in 1976 and was introduced to stock trading thanks to a relative. Jones initially worked for New York Cotton Exchange. He became a commodities broker for E.F. Hutton & Co. before founding Tudor Investment Corporation.
They follow a range of investment strategies, including global macro trading and fundamental equities investing in the US and Europe. He made a 60% profit shorting the market on Black Monday. Paul Tudor Jones holds a $8.1 billion net worth.
7. Bruce Kovner – $7.7 Billion
Bruce Kovner is a hedge fund manager and philanthropist, he believes risk management is key to success in financial markets. He learned this from an unfortunate trade on Soybean contracts and missed out on a big profit as he failed to take profits early.
Kovner is the chairman of CAM Capital, a company he founded in early 2012 to manage his investing, trading, and commercial interests. Kovner is a brilliant macro trader and prefers to focus on commodities and currencies. This approach has helped him acquire a $7.7 billion fortune.
8. George Soros – $6.7 Billion
Soros is one of the few successful investors relying on instinct when making decisions. He is noted for his expertise in economic trends and for taking massive bets on market inefficiencies. Soros became infamous for shorting the British Pound in 1992 and banked a $1 billion profit from the trade.
George Soros was born in Budapest and came to the UK in 1947 after surviving the Nazi invasion of Hungary. He began his business career working for merchant banks in England and then the USA before founding his first hedge fund called Double Eagle in 1969.
He also managed Quantum Fund, a venture that had a yearly average return of 30%. The hedge fund peaked from 1970 to 2000. He is one of the biggest philanthropists on this list, donating up to 64% of his wealth. Today, the generous businessman is still left with $6.7 billion.
9. Stanley Druckenmiller – $6.2 Billion
Even though Stanley Druckenmiller is not as famous as investors like Warren Buffett and George Soros, he is highly regarded in investment circles. Druckenmiller’s strategy is based on a top-down approach which includes both long and short positions in a variety of assets.
In 1981, he founded Duquesne Capital and served as the fund’s chairman and president. In August 2010, he closed down Duquesne Capital which had more than $12 billion in assets. Druckenmiller worked closely with George Soros in the Quantum Fund.
Stanley merged some of Soros’ investment philosophy with his own methods. This was how he was able to hold considerable positions in American Airlines, Delta Airlines, and Microsoft. Druckenmiller also put his money in gold and crypto. Druckenmiller is currently worth $6.2 billion.
10. Carl Icahn – $5.4 Billion
Carl Icahn is recognized as one of the most successful activist investors alive. He’s a business magnate whose signature move is buying struggling businesses and stripping their assets. Icahn made a fortune using this strategy and has been practicing it since the 1970s.
Carl’s venture into finance began as a stockbroker on Wall Street and later was an options trader. His hostile takeover of Trans World Airlines gave him a reputation as a “corporate raider.” In 1991, Icahn made $469 million selling TWA’s London routes to American Airlines and left the airline with a debt of $540 million.
He left the hedge fund business in 2011 and now runs Icahn Enterprises. Icahn has stayed true to his activist way of investing but Icahn Enterprises has taken a hit due to Hindenburg Research releasing a negative report about his business. The former stockbroker is now worth an estimated $5.4 billion.
