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The 5 Richest People In the World

The world's wealthiest people all have certain things in common: legendary work ethics, breakthrough ideas, and absolute commitment to their companies. At the time of updating this article, all of the top five wealthiest people founded their own companies, and continue to take an active role in the management of their exorbitant wealth.

1. Jeff Bezos

Founder: Amazon (AMZN)

In 1994, Bezos founded Amazon.com in a garage in Seattle, shortly after he resigned from the hedge fund giant D.E. Shaw. In fact, he had originally pitched the idea of an online bookstore to his former boss David E. Shaw (a rumor that Shaw himself has confirmed), who wasn't interested.

Though Amazon.com originally started out selling books, it has since morphed into a one-stop-shop for everything under the sun, and is arguably the world's most important retailer. At any rate, it is hard to dispute its self-description as the "earth's most customer-centric company." Its pattern of constant diversification is evident in some of its unexpected recent expansions, which include its acquisition of Whole Foods in 2017 and its launching of its own branded over-the-counter drugs in Feb. 2018.

2. Warren Buffett

Founder: Berkshire Hathaway (BRKB)

Buffett is the second richest person on our list, with a net worth of $75 billion. He is also the third-richest person in America, behind Bill Gates and Carlos Slim Helu. The Oracle of Omaha was born in Ohio, but grew up in Nebraska where he attended college at the University of Omaha. In the 1960s, Buffett started working as a stockbroker for his father's firm in Omaha, and quickly rose to become a successful "number cruncher" in the brokerage department. In the 1970s, he dropped "son" from his name to become just "Warren.

Though he built a successful career, Buffett is perhaps best known for his investment strategies, which focus on things such as Benjamin Graham's analysis of companies and the concept of intrinsic value, based on comparisons to companies of similar type and nature, in contrast to the P/E ratio. Though it has been a long time coming, his recent decision to give away the bulk of his fortune to charity through a known entity has helped increase his stature.

3. Bill Gates

Founder: Microsoft (MSFT)

Gates is one of the two richest people in the world, and the fourth-richest person in the world. He has a net worth of $86 billion. Gates was born in a small town near Seattle, the son of an evangelical Protestant minister. At age 16, Gates began attending Harvard University, which he paid for by working as a summer job at the prestigious inn that lent its name to the university's law school. He continued attending the university, and after 2 years he decided to drop out to pursue his career in software.

In 1975, Gates founded Microsoft with the goal of creating a personal computer for the average user. In 1980, he released his first product, a version of the programming language BASIC for the Intel 8080 microprocessor. Though initially unsuccessful, Gates would go on to develop and release many other successful products for the PC, such as Microsoft Word and Excel. Gates is currently the head of a company that produces various software, the largest of these being the Windows operating system.

4. Carlos Slim Helu

Founder: Telmex (TELMEX)

Slim Helu is the fourth richest man in the world, with a net worth of $84 billion. He is the second-richest person in Mexico, after Carlos Slim Domit, and the richest person in all of Latin America. He was born in Guadalajara, Mexico, the son of Luis Slim Helu, a baker.