The ‘most valuable’ man on the planet – The Economist

A US entrepreneur, entrepreneur and CEO has topped the Forbes list of the world’s most valuable people.

The Forbes ranking is based on an estimate of the value of assets owned by the richest person on earth.

The Economist, a financial magazine, says Mr Forbes is worth $2.3bn.

He is followed by Russian oligarch Mikhail Khodorkovsky, British billionaire Rupert Murdoch and Chinese tycoon Wang Jianlin.

Mr Forbes, founder and chief executive of US firm Elevation Capital, founded the company Elevation to make it easier for wealthy investors to invest in tech start-ups.

His first public offering, in 2012, raised $100m.

He made a fortune selling real estate to investors, which was valued at $3.7bn at the time.

Mr Khodorksy, the Russian oligarchy’s richest man, made $4bn in 2015, making him the world leader.

Mr Murdoch, the British newspaper publisher and owner of the Times, has made more than $8bn.

The billionaire founder of internet news website The Guardian, who is also chairman of the World Economic Forum, is worth about $7.2bn.

Mr Wang, the Chinese tycoons owner of The Wall Street Journal, has a fortune of $7bn.

A person familiar with the matter said Mr Forbes had spent about $100 million in a year on investments.

Mr Chen, who founded the firm in 2009, was the first Chinese billionaire to be named as the world most valuable.

In the 2016 list, the American businessman and the Japanese billionaire Satoshi Kanazawa are among the leaders.

China’s government has said it wants to attract more foreign investors.

But it has struggled to attract the kind of wealthy Chinese who are drawn by its wealth, access to technology and ease of doing business.