Watch out these Top 10 billionaires harnessing AI

analytics-insightThis post was originally published by Meenu EG at Analytics Insight

Harnessing AI

These billionaires have invested in AI to enhance their business growth

The Covid-19 pandemic has visibly shaken the global economy and we are still trying to recoup from it. Many industries harnessed the power of technology to keep their market value in check and ensure agility and business growth even in times of crisis. AI played a pivotal role in the rapid acceleration of digital transformation across the globe.

Last year, we saw huge amounts of unemployment and dips in GDPs across different nations. This led to volatile stock markets, an indication of recession. However, this great stock market crash and unemployment did not affect the rich. According to a report by USA Today, “Over a roughly seven-month period starting in mid-March – a week after President Donald Trump declared a national emergency – America’s 614 billionaires grew their net worth by a collective $931 billion.” Let us look at the top 10 richest billionaires in AI, who have been investing in artificial intelligence and disruptive technology and have not been affected much by the economic catastrophe.

1. Jeff Bezos

Net Worth: USD198.3 Billion

Founder of the tech giant Amazon, Jeff Bezos stands first in the Forbes Billionaires list this year. A few years back, Jeff Bezos had announced that Amazon is adopting artificial intelligence to enhance its services, design new products, and contribute towards the development of voice assistants. He also stated the role of machine learning and AI in various significant projects by Amazon. According to reports, Bezos contributed USD10 billion to launch Bezos Earth Fund, intended to fight climate change, and announced a donation of USD100 million to US food banks amid Covid-19 last year.

2. Elon Musk

Net Worth: USD179.4 Billion

Elon Musk stands second in the Forbes Billionaires List. Musk is widely known through his tech companies, Tesla and SpaceX. He has been consistently donating funds through Musk Foundation, since its inception in 2002. SpaceX secured huge funding in the recent funding round, after which the company is valued at USD74 billion.

3. Bill Gates

Net Worth: USD131.3 Billion

Bill Gates is an American business magnate, tech billionaire, and Co-founder of Microsoft. He has been running the Bill and Melinda Gate Foundation, with his wife, which is considered the world’s largest charitable organization. According to reports, the Gates Foundation announced spending about USD300 million to fight the Covid-19 pandemic.

4. Mark Zuckerberg

Net Worth: USD110.4 Billion

Fifth in the Forbes billionaires, Mark Zuckerberg is not an unfamiliar name. He is the CEO of the social media giant Facebook. Facebook was fined USD5 billion by the Federal Trade Commission in July 2019 for violating privacy rules. The FTC also asked Facebook to update its security measures and adopt new privacy rules. With a user base of 3 billion, Facebook has been accepted worldwide. Facebook recently faced criticism against the massive data leak that included the personal information of almost 530 million users.

5. Larry Page

Net Worth: USD100.2 Billion

Known as the Co-founder of Google, Larry Page is an American computer scientist and business magnate. Larry page stepped down from the position of CEO of Alphabet, Google’s parent company in December 2019. Larry Page recently entered the 100 billion club since the technology stocks skyrocketed during the pandemic. He currently funds flying car startups Kitty Hawk and Opener.

6. Sergey Brin

Net Worth: USD97.1Billion

Sergey Brin Co-founded Google with Larry Page and he stepped down as the President of Alphabet in December 2019. A Business Insider report revealed that Brin has been working on a secret airship company known as LTA Research and Exploration.

7. Ma Huateng

Net Worth: USD60.9 Billion

Ma Huateng is widely known as Pony Ma and is the Founder, Chairman, and CEO of Tencent Holdings, a Chinese MNC. Recent reports reveal that Tencent managed to invest USD225 million in an Indian startup ShareChat amidst India’s strict resistance to any Chinese takeovers. Tencent is the parent company of WeChat, a popular social messaging app with more than 1 billion users.

8. Michael Dell

Net Worth: USD51 Billion

Michael Dell is the Founder, Chairman, and CEO of Dell Technologies. According to reports, Dell recently announced its plan to have a spin-off with VMware with an 81% equity ownership interest. Back in 2016, Dell declared its acquisition of EMC Corp in a deal worth USD67 billion, which is considered one of the largest tech acquisitions. After accepting a bid to take Dell private in 2013 in a buyout, the company returned to public markets in 2018 with financial restructuring.

9. Eric Schmidt

Net Worth: USD20.3 Billion

Eric Schmidt served as the CEO of Google from 2001 to 2011. In June 2019, Schmidt left the board of Alphabet, Google’s parent company. Recently, Schmidt was announced to be the next Chair of the Board of Directors at The Broad Institute of MIT and Harvard.

10. Azim Premji

Net Worth: USD8.7 Billion

Azim Premji is the Founding Chairman of Wipro, which has an 8.3 billion revenue and is India’s fourth-largest tech outsourcer. The Azim Premji Foundation promised USD134 million in April last year to aid the people affected by the Covid-19 pandemic. In December 2019, Azim Premji was named Asia’s most generous philanthropist by Forbes.

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This post was originally published by Meenu EG at Analytics Insight

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