In this issue

The World’s Billionaires
Falling stocks, wounded unicorns and rising interest rates meant a tough year for the planet’s wealthiest people.
Edited by Rob LaFranco and Chase Peterson-Withorn

The Man Who Gave Too Much
When Zappos CEO Tony Hsieh died at 46 in 2020 after a mysterious re, it was revealed by Forbes to be drug-related. In this exclusive excerpt from Wonder Boy, Hsieh pays millions of dollars to a sycophantic circle of acolytes in a desperate attempt to deliver him happiness during the nal weeks of his life.
By Angel Au-Yeung and David Jeans

TRUMP'S TRUTH TROUBLE

The former president's fortune plunged $700 million, to $2.5 billion. The biggest reason? His once-hyped social media business has come crashing down

2 mins

Power Broker

Poland's richest woman was spending her time traveling the world producing documentary films. But after her dad died, DOMINIKA KULCZYK got down to business. She grabbed control of a near-bankrupt renewable energy company-and revived it just in time to have an impact on the European energy crisis

5 mins

The Anti-Uber

While the world's leading ride-sharing business was blowing billions of dollars trying to buy global domination, MARKUS VILLIG was busy doing the opposite with BOLT. Working on a shoestring budget, he built an $8.4 billion operation-and a $700 million fortuneby focusing on overlooked markets in Africa and Europe

4 mins

Small Town Giant

JIMMY RANE took over a tiny treated-lumber business and used his showman's flair for marketing to transform it into a major player. The Yella Fella from Abbeville is now Alabama's only billionaire-and the lumberyard will never be the same

5 mins

Boring Is Better

The shares of sleepy companies have recently bested those of exciting companies. This is just the beginning of a big trend, says the billionaire money man running AQR

4 mins

MOBILIZING AI'S INFANTRY

ALEXANDR WANG BRIEFLY BECAME THE WORLD'S YOUNGEST SELF-MADE BILLIONAIRE BY SUPPLYING ARTIFICIAL INTELLIGENCE COMPANIES WITH THE ONE THING THEY ALL NEED: HUMANS. HUNDREDS OF THOUSANDS OF THEM. NOW, HIS $7.3 BILLION STARTUP IS PRIMED TO CASH IN ON THE BIGGEST AI BOOM YET-UNLESS SOMEONE ELSE CAN DO IT BETTER OR CHEAPER

10 mins

THE WORLD'S BILLIONAIRES

FALLING STOCKS, wounded unicorns and rising interest rates translated into a tough year for the world's wealthiest. Globally, we counted 2,640 ten-figure fortunes, down from 2,668 last year. Altogether, the planet's billionaires are now worth $12.2 trillion, down from $12.7 trillion in March 2022.

4 mins

Τhe Adani Affair

Brothers Gautam and Vinod Adani took their family conglomerate to the pinnacle of indian capitalism. Then their companies lost $100 billion in 14 days as massive fraud claims rocked their empire. The inside story of two ambitious siblings who built their fortunes using shady deals, hidden offshore entities and alleged stock manipulation and why they may be too big (and too politically connected) to fail

10+ mins

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