Two Cypriots among the wealthiest people in the world

US Business magazine Forbes has published its annual list of the world’s 200 wealthiest people in the world, with two Cypriots – a shipping tycoon and a investment banker – among them.

“Over the past year, wealth has skyrocketed in unprecedented ways as the rich continue to get richer at an astonishing pace,” Forbes said.

Cypriot citizens John Fredriksen, with a net worth of €18.2 billion, and Vinod Adani, €17.91 billion, are ranked 118 and 121 in the list respectively.

While ranking among the richest people in the world, a title that overwhelmingly belongs to men, the two fall far behind Tesla CEO Elon Musk, who heads the ranking with his total net worth amounting to €295 billion.

“The world added 390 new billionaires over the past year,” Forbes said.

Among the new billionaires are musicians Beyonce, rapper Dr Dre and tennis superstar Roger Federer.

Meanwhile the Cypriot billionaires have been a fixture of the list for several years, with Norwegian-born Fredriksen having ranked the richest person in Cyprus for several years.

A shipping tycoon, he has made most of his money in the oil industry, having owned the world’s largest fleet of oil tankers, as well as a fleet of Cyprus-flagged vessels since1996.

The now 81-year-old was granted Cypriot citizenship in 2006, due to what local media reported as dissatisfaction with the Norwegian tax system.

His business includes the world’s fifth largest oil tanker company Frontline, which was moved from Bermuda to Limassol in late 2022.

The second Cypriot among the 200 wealthiest people in the world is Indian-born Adani.

Now aged 77, he has built up a diverse business portfolio, which includes his family’s investment firm based in Dubai. Adani was granted Cypriot citizenship as part of the citizenship-by-investment scheme.

He is the older brother of Gautam Adani, who is currently the second-richest person in India, with a total net worth amounting to €55.4 billion.

As the fortieth of its kind, the Forbes list, the 2026 Forbes list features 3,428 billionaires – the most recorded since the magazine began its publishing of the list in 1987.

“The world’s wealthiest people are worth a record $20.1 [€17.3] trillion combined, up from $16.1 [€13.7] trillion in 2025. Across the globe, a record 20 people now have 12-figure fortunes,” Forbes said.

Most of the billionaires, 100 in total, of the current list are from the United States, with China following second, counting 55 Chinese billionaires.

According to Frobes, the vast majority of new billionaires, almost two-thirds, are self-made, having built their own fortunes rather than inheriting them.

As per the Forbes data, this development appears to be partly connected to the emerging technologies surrounding artificial intelligence, seeing the technology sector as a whole produce 70 new billionaires alone.

Yet, most new billionaires, 91, made their fortune in the manufacturing industry. This included the production of car parts, bicycles and paint.