Two impressive new units have just hit the market in New York City’s thinnest superalto. And a three-bedroom duplex with unobstructed views of the park now requires $39.5 million. The latest billionaire listing on the Billionaires’ Row Tower comes after two $30 million units sold earlier this summer during the coronavirus shutdown, which gave a boost to the city’s nearly stagnant luxury market. If you want to get a little closer to the rankings of wealthier billionaires, you may need to become a tech innovator or a mastermind of luxury retail. However, the biggest fortunes on this list started as good ideas that people with creativity, drive, and connections used to build some of the biggest companies in the world.
Through Washington Companies, a company owned and started by Washington, it owns a diversified group of companies in various industries, such as shipping, rail transportation and diamond mining. Despite living in Montana, Washington owns four boats and once spent an estimated $250 million on renovations for his yacht Attessa IV. With an estimated net worth of $4 billion, Harry Stine is the richest person in Iowa. The Stine Seed Company, originally founded in the 1950s by Stine’s father as Stine Seed Farm, today holds hundreds of patents in soy and corn genetics and makes more than $1 billion in annual sales. Stine still lives with his family in Adel, where his grandparents first moved in the late 1800s. The Indian metropolis remained at number 8 with a net profit of three billionaires compared to last year.
Higgins increased the New York hedge fund’s position in HTZ by 18%, or 2.4 million shares, in the first quarter. King Street Capital’s total stake is now 15.5 million shares, worth $343.3 million as of March 31. Hedge fund legend Paul Singer, with an estimated net worth of $4.3 billion, apparently sees MPC as one of the oil and gas stocks with even more rises ahead. With 9.2% of the portfolio, Microsoft is now leading the Greenwich-based hedge fund’s stock selections, up from 6.5%, or the sixth largest stake, in the previous quarter. Stephen Mandel, with an estimated net worth of $3.9 billion, first acquired MIcrosoft for his hedge fund Lone Pine Capital ($35.3 billion AUM) in the fourth quarter of 2013. Tananbaum even increased Goldentree’s holdings by 34%, or 2 million shares, during the first three months of the year.
Gautam Adani, the founder of Adani Group, surpassed Mukesh Ambani in March 2022 as the richest person in Asia. Warren Buffet is the fifth richest person in the world, with an estimated net worth of $118 million according to Forbes magazine. Bill Gates is the fourth richest person in the world with an estimated net worth of $129 billion. Jeff Bezos is the second richest person in the world, with an estimated net worth of $171 billion. One of the factors underlying the boom is foreign investment, often in the form of capital flight. Some of these buyers have invested money in high-end New York real estate with the goal of evading taxes, laundering money, or exporting wealth to jurisdictions where it is less likely to be seized.
Klarman’s Baupost Group ($31.6 billion AUM) increased its stake by 11% in the most recent quarter. The Boston hedge fund now owns 6.6 million shares worth $824.7 million as of March 31. With 8.9% of the portfolio, QRVO ranks second among Klarman’s stock selections after Liberty Global Class C, which accounts for more than 15% of the fund. After the 2021 edition of Illinois’ Richest People, 2021 may have been billionaire investor a difficult year for billionaires in general, but for Illinois’ wealthiest people, including the top 10, who are all men, it was a good year. With an estimated net worth of $36.4 billion, Sheldon Adelson is the richest person in Nevada and one of the 20 richest people in the United States. Adelson is the founder, president and CEO of Las Vegas Sands, one of the world’s largest casino and resort companies.
Moscow lost more billionaires than any other city on the list amid the consequences of russia’s invasion of Ukraine. In fact, all but two people living in the capital of Russia did worse than the year before. Vladimir Lisin, chairman of steel products maker NLMK Group and moscow’s richest person, got rid of some $8 billion of his personal wealth. A hub for self-made billionaires, “China’s Silicon Valley” fell to No. 6 after losing nine billionaire residents in the past year. Three were investors in vaping company Smoore International, whose stake plummeted by 64% when the Chinese government threatened to crack down on e-cigarettes.
Shanghai lost fewer billionaires than other Chinese cities, but still saw its stable of super-rich residents fall, from 64 to 61. Against the trend, Shanghai’s richest person Liu Yongxing, chairman of agriculture and chemicals company East Hope Group, more than doubled his fortune to an estimated $13.2 billion. Higgins took a 13.1 million stake in the previously indebted company at the end of last year. It was a typically opportunistic move for the hedge fund manager, the kind that helped him amass an estimated net worth of $1.8 billion. The New York hedge fund bought a total of 3.8 million shares from the miner, which were worth $187 million on March 31. The move immediately made FCX the fund’s largest holding company, and with a good margin.
With 6.8 million shares worth $2.8 billion as of March 31, SPGI is the fund’s sixth largest position. Coleman increased the stake of Tiger Global Management ($124.7 billion AUM) by 16%, or 1.3 million shares, bringing the hedge fund’s total holdings to 8.8 million shares. The position, worth $2 billion on March 31, is now Tiger Global’s third-largest stake. D1 Capital Partners ($40 billion AUM) increased its stake in Warby Parker by 11%, or 1.5 million shares in the first quarter. The fund held a total of 14.9 million shares worth $505.3 million as of March 31, making WRBY the fifth largest among its stock selections. Like most billionaires in Oklahoma, Harold Hamm made his fortune in the oil and gas industry.
Co-founder and chief investment officer of Egerton Capital ($27.4 billion AUM), John Armitage, has long believed in Canadian railroad stocks. The largest stake in its London hedge fund is Canadian Pacific Railway, a position it has held since 2016. Dalio apparently anticipated the market’s hard move away from expensive growth names and to value stocks in 2022, then doubled the bet.