Meet the 15 richest people in finance, who have a collective net worth of over $300 billion

warren buffett
Warren Buffett takes the top spot.

Madeline Shi contributed reporting to a previous version of this post.

15. Uday Kotak
Uday Kotak

Net worth: $11.5 billion

Age: 61

Country of citizenship: India

Source of wealth: Self-made; Kotak Mahindra Bank

Kotak is one of the richest bankers in India and runs Kotak Mahindra Bank, a publicly traded company based in Mumbai, per his Bloomberg profile. Founded in 1985, the bank is currently worth $34.6 billion and employs 60,000 people. The business started as a finance firm before becoming a bank in 2003.

According to GQ India, Kotak grew up in a large joint family of 60 people and had aspirations to play cricket before settling on banking and finance. 

"I regret not becoming a professional cricketer. I was hit by a cricket ball and I had a surgery when I was 19 years old and that changed my life. My family stopped me from playing cricket or else I would be a cricketer now talking about cricket and sports which is a big passion for me," Kotak told the Economic Times in April 2020.

14. Mikhail Prokhorov
Mikhail Prokhorov

Net worth: $12.1 billion

Age: 55

Country of citizenship: Russia

Source of wealth: Self-made

Prokhorov is the founder and owner of the Russian private investment firm Onexim Group. He also has stakes in Renaissance Capital and Renaissance Credit, both banks.

He also famously owned the NBA franchise Brooklyn Nets. Prokhorov bought the team — then known as the New Jersey Nets — for less than $400 million in 2009 and sold it in 2019 for $2.35 billion

In June 2020, Onexim Sports and Entertainment indefinitely closed The Nassau Coliseum in Long Island, which the company operates on a lease from the county, while shopping around for new investors, Bloomberg reported.

13. Petr Kellner
Petr_Kellner_Official_Photo
Petr Kellner

Net worth: $12.5 billion

Age: 56

Country of citizenship: Czech Republic

Source of wealth: Self-made; finance, telecommunications

The richest man in the Czech Republic, Petr Kellner began his career by selling office supplies; he then embarked on an investment fund by borrowing $1 million against an office supplies business. Through the fund, he acquired a controlling stake in an insurer during its privatization.

Kellner is a major shareholder in Dutch holding company PPF Group N.V., which controls the PPF Group. The investment firm owns controlling interest in the Czech consumer finance company, Home Credit.

12. David Tepper
David Tepper

Net worth: $12.6 billion

Age: 62

Country of citizenship: United States

Source of wealth: Self-made; finance, hedge fund 

Tepper cofounded the hedge fund company Appaloosa Management in 1993. Forbes called him "arguably the greatest hedge fund manager of his generation," reporting that the company currently manages $13 billion. 

He has degrees from the University of Pittsburgh and Carnegie Mellon. He also worked for Goldman Sachs before leaving to found Appaloosa.

Tepper bought the football team the Carolina Panthers for $2.3 billion in 2018 and is the richest man in the NFL.

11. Joseph Safra
Joseph Safra

Net worth: $14.8 billion

Age: 82

Country of citizenship: Brazil

Source of wealth: Self-made; Banco Safra

Safra owns Banco Safra, one of the largest banks in Brazil, and Switzerland's private bank, J Safra Sarasin.

Born in Beirut, Lebanon, Safra is a scion of a Jewish banking family whose wealth dates back to the Ottoman Empire. In 1952, he moved to Brazil with his family, and his father started working in the financial industry in Sao Paolo. Safra eventually got in the business himself, founding Banco Safra in the 1960s.

His late brother Edmond J. Safra is a notable philanthropist. In 1977 he and his wife Lily founded the Edmond J. Safra Foundation, which continues to give to organizations all over the world today. He helped refurbish synagogues all over the world, and endowed the Center for Ethics at Harvard University and the science campus of the Hebrew University of Jerusalem.

10. R. Budi Hartono
R. Budi Hartono, right.

Net worth: $14.9 billion

Age: 80

Country of citizenship: Indonesia

Source of wealth: Inherited; Banking, Tobacco

The 80-year-old tycoon accumulated his family fortune from varied businesses from tobacco to banking to telecom. He and his brother Michael Bambang Hartono operate and own Djarum, a cigarette maker started by their father. They are also the largest shareholders in the Bank of Central Asia, the largest and most influential retail bank in Indonesia.  

T9. Ray Dalio
Ray Dalio

Net worth: $15.4 billion

Age: 71

Country of citizenship: US

Source of wealth: Self-made; Bridgewater Associates

Ray Dalio's hedge fund, Bridgewater Associates, is one of the biggest in the world, managing a portfolio of around $160 billion in global investments.

At the top of his industry and having amassed an enormous fortune, Dalio has more recently focused on giving away money and advice. He's taken the Giving Pledge, committing to donate the majority of his wealth to charity. He's also shared his highly coveted "investment secrets," albeit in an unorthodox manner for a hedge funder, in a 30-minute YouTube video. His 123-page, self-published manual on the principles of money management and leadership is also seen as something of a bible among the investment world.

Dalio has always taken a radical approach to management, making everything his fund does completely transparent to employees. And it's worked well for him: Bridgewater, while sometimes viewed as "cultish," is one of the most coveted places to work in finance. Dalio has said that he attributes his success, in part, to reminding himself that history repeats itself and keeping track of the decisions he's made that didn't work.

To make sure that Bridgewater runs without him, he's recently stepped back from management responsibilities while still remaining active in the investment strategy.

Dalio sat down with Business Insider CEO Henry Blodget in 2018 to discuss his new book, which breaks down the anatomy of credit crises throughout history.

T9. Ken Griffin
Ken Griffin

Net worth: $15.4 billion

Age: 51

Country of citizenship: US

Source of wealth: Self-made; investment, hedge funds

Griffin is the head of Chicago-based hedge fund Citadel.

He got an early start in trading when he started testing the waters in his undergrad Harvard dorm in 1987, per Forbes. Griffin started Citadel three years later in 1990. Forbes put him on their list of highest-earning hedge fund managers in 2019 and on their list of most powerful people in 2018.

Griffin bought a record-breaking penthouse overlooking Central Park in Manhattan in 2019 for $238 million. He also has two private jets and an art collection worth millions of dollars. 

7. Thomas Peterffy
Thomas Peterffy

Net worth: $15.7 billion

Age: 75

Country of citizenship: US

Source of wealth: Self-made; founded Interactive Brokers

Thomas Peterffy, who is often considered the father of modern trading, founded discount trading company Interactive Brokers in 1995. He took the company public in 2007, but still owns the majority of it.

Peterffy immigrated to the US from Hungary in 1965 with no money and didn't speak any English. He started off as a software designer and then bought a seat on the American Stock Exchange to trade options in the 1970s. He built a hand-held computer and used it to trade on the floor of the exchange, the first time that had been done.

He's also known for his staunch opposition to socialism. He ran a series of television ads during the 2012 election cycle warning about the dangers of wealth distribution. Peterffy has also been public about his support for President Donald Trump.

6. Ned Johnson III
ned johnson iii

Net worth: $17.1 billion

Age: 90

Country of citizenship: US

Source of wealth: Money management 

Johnson was the CEO of Fidelity, the second-largest US mutual fund manager, for almost 40 years. The company was founded by his father, Edward Johnson II, in 1946.

Forbes has given him a spot on both their Billionaires and Forbes 400 list. The publication also noted that he has an extensive art collection and he's loaned several hundred paintings and artifacts to various museums through his Brookfield Arts Foundation.

5. Steve Schwarzman
blackstone schwarzman

Net worth: $17.9 billion

Age: 73

Country of citizenship: US

Source of wealth: Self-made; Blackstone Group

Stephen Schwarzman, the son of a dry goods store owner, founded Blackstone in 1985 alongside Pete Peterson. Now the world's largest private equity firm, Blackstone manages $439 billion in assets.

Schwarzman took home a pay package of $786 million in 2017, making him the private equity industry's highest-paid executive.

In the last several years, Schwarzman has taken a backseat in the day-to-day decisions at Blackstone but he still remains prominent in fundraising.

In 2018, Blackstone elevated the firm's real estate head, Jonathan Gray, to the president and chief operating officer which paves the way for him to replace Schwarzman as CEO.

In its biggest deal since the financial crisis, Blackstone last year agreed to buy a majority stake in the Financial and Risk business of Thomson Reuters in a $20 billion deal.

4. Carl Icahn
Carl Icahn
Chairman of Icahn Enterprises Carl Icahn participates in a panel discussion at the New York Times 2015 DealBook Conference at the Whitney Museum of American Art on November 3, 2015 in New York City.

Net worth: $19.4 billion

Age: 84

Country of citizenship: US

Source of wealth: Self-made; Icahn Enterprises

Carl Icahn has made a lifelong habit and lucrative career out of agitating undervalued and poorly managed companies to change their ways. Since founding his own investment firm in 1968, Icahn has become one of the most powerful people in finance, investing in scores of high-profile companies, including RJR Nabisco, Philips Petroleum, Viacom, Marvel, Time Warner, Netflix, and Herbalife.

He was a special adviser to President Trump on regulation until his resignation in August 2017.

3. Jim Simons
james simons
Hedge fund director James Simons, director of Renaissance Technologies LLC

Net worth: $22 billion

Age: 82

Country of citizenship: US

Source of wealth: Self-made; Renaissance Technologies

Per his Bloomberg profile, before revolutionizing the hedge fund industry with his mathematics-based approach, "Quant King" James Simons worked as a code breaker for the US Department of Defense during the Vietnam War, but was fired after criticizing the war in the press. He chaired the math department at Stony Brook University for a decade until leaving in 1978 to start a quantitative-trading firm. That firm, now called Renaissance Technologies, has more than $57 billion in assets under management among its many funds.

Since 2010, Simmons has been a part of The Giving Pledge, a group started by Bill and Melinda Gates and Warren Buffett to invite billionaires to pledge most of their wealth to charity.  

2. Abigail Johnson
Abigail Johnson
President and CEO of Fidelity Investments Abigail Johnson.

Net worth: $28.6 billion

Age: 58

Country of citizenship: US

Source of wealth: Inherited; Fidelity Investments

Abigail Johnson has served as CEO of mutual fund giant Fidelity Investments since 2014 when she succeeded her father Ned Johnson III chief executive officer.

Her grandfather, Edward C. Johnson II, founded the Boston-based firm in 1946.

Johnson owns around 24.5% stake of the firm, which manages $3.2 trillion.

Johnson, who is the first woman to run Fidelity, is known for being very private. Last year, she made a rare speech in an effort to address inappropriate workplace conduct like sexual harassment at Fidelity. She's also publicly championed the use of bitcoin.

1. Warren Buffett
Warren Buffet

Net worth: $82.4 billion

Age: 90

Country of citizenship: US

Source of wealth: Self-made; Berkshire Hathaway

Berkshire Hathaway CEO Warren Buffett started his investing career at a young age. As a child he delivered newspapers on his bike, and by 11, the Nebraska native had purchased his first shares in the stock market — Cities Service Preferred at $38 apiece — and sold them for a $5 profit. He was rejected from Harvard Business School, so Buffett went to Columbia Business School instead and learned under iconic value investor Benjamin Graham, who would become a mentor to the budding financier. Buffett worked as a securities analyst in the early 1950s before starting his own investment firm. He bought the textile company Berkshire Hathaway in 1969, transforming it into a holding company that would house the many lucrative investments that helped build his massive fortune and earn the nickname "The Oracle of Omaha."

The array of portfolio companies and investments that made him rich may appear random — he's bet on companies including Coca-Cola, American Express, Geico, Fruit of the Loom, Dairy Queen, and General Motors — but they're all cash-generating machines that offer long-term value.

A frugal man with a fondness for junk food, perhaps the most impressive part of Buffett's $83 billion fortune is that it doesn't include the $31.5 billion he's already given away. He's good friends with Microsoft cofounder Bill Gates, with whom he collaborated to create the Giving Pledge, a promise for billionaires to give away at least half of their wealth to charity. He's said that he will give away 99% of his wealth.

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