40 Richest People in the World Who Came From Poor Families

In this article, we will take a look at 40 richest people in the world who came from poor families. If you want to skip our detailed analysis, you can directly check out 5 Richest People in the World Who Came From Poor Families.

The Global Wealth and Inequality

The richest people who were born poor had to go through troubles of different nature, some had to migrate from their homeland due to wars or economic uncertainties, while others came from poor rural areas. Global wealth inequality has significantly increased over the past few years. According to the 2024 World Inequality Report by Oxfam, almost five billion people globally have become poorer since 2020, while the richest five men in the world have doubled their fortunes during the same period. Global poverty will potentially increase considering the hike in ongoing conflicts in the Middle East and Eastern Europe. It could take up to 230 years to end poverty, but we could have our first trillionaire in 10 years, as per the Oxfam report.

The world’s billionaires have increased their wealth by more than $3 trillion in the last three years, while poor people around the world live in dire poverty, without access to clean water, adequate healthcare, decent housing, or education for their kids. In the US, over 60% of workers live paycheck to paycheck despite notable improvements in employee productivity and technology. The real weekly wages for the average US worker are lower today than they were 50 years ago. Poverty is not just an American issue, almost five billion people globally have become poorer since 2020, while the five richest men in the world have become twice as wealthy and are worth more than $1 trillion, as of September 25.

According to Credit Suisse’s Global Wealth Report 2024, approximately $83.5 trillion of wealth will be shifted to the next generation within the next 20 to 25 years. Around $9 trillion of this wealth will be transferred horizontally between spouses, the majority in the Americas. Over 10% of the total wealth shift is likely to be made by women to the next generation. The richest people in the world who came from poor families are the most influential entrepreneurs today and many of them live like regular people.

The millionaire population is increasing and by 2028, the number of adults with wealth of more than $1 million will rise from 52 countries to 56. Taiwan is expected to have the highest millionaire growth by 2028, growing by almost 50%.

Billionaires who come from poor families today have some of the biggest companies in the world. One such billionaire is Sergey Brin, who migrated from Russia to the US at a young age with his parents, suffering from antisemitic discrimination back in the 1970s. Sergey Brin is one of the richest billionaires in the technology industry.

READ ALSO: 15 Best Flood Insurance Companies Heading into 2024 and 12 Countries Millionaires Are Moving To. 

Brin’s Company is a Trillion-Dollar Company Today

Alphabet Inc. (NASDAQ:GOOG), co-founded by Larry Page and Sergey Brin, is one of the few trillion-dollar companies. The market capitalization of Alphabet Inc. is over $2 trillion, as of September 25. Sergey Brin along with Page created Google, a browser that later changed the course of Internet history. In August 1998, Sun co-founder Andy Bechtolsheim wrote a $100,000 check to Larry and Sergey, and Google Inc. was officially born. Today, Alphabet Inc. (NASDAQ:GOOG) has one of the largest Cloud service platforms in the world. The company’s primary revenue source is its Search business, which accounts for 58.6% of its total revenue, as of the second quarter of 2024.

During Q2 2024, Alphabet Inc. (NASDAQ:GOOG) reported improved earnings, exceeding EPS estimates of $1.85 and reporting earnings of $1.89 per share. The company also had a revenue surprise of $445.49 million, reporting a total revenue of $84.74 billion, up by 14% year over year. Alphabet Inc. is rapidly progressing in AI and its generative AI chatbot, Gemini is doing well. The company is also designing its own tensor processors for AI use.

Cloud and YouTube are other strong portfolios of Alphabet Inc. (NASDAQ:GOOG). During Q2 2024, Cloud revenue surged 28.8% to $10.35 billion, beating analysts’ estimates of $10.16 billion. Alphabet Inc. is on track to reach a $100 billion revenue run rate from YouTube Ads and Google Cloud by the end of 2024.

At a forward P/E ratio of 18.62, analysts believe Alphabet Inc. (NASDAQ:GOOG) to be one of the best blue chip value stocks in the market. In addition, a strong balance sheet allows the company to continue investing in innovation while navigating economic uncertainties.

While we acknowledge the potential of GOOG as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than NVDA but trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

Now, let’s have a look at the 40 richest people in the world who came from poor families.

Enrique Ramos/Shutterstock.com

Our Methodology

To compile the list of the 40 richest people in the world who came from poor families, we obtained data from the Forbes Real Time Billionaires List. We have shortlisted the list of billionaires who have a Forbes Self-made score of 9 and 10. The billionaires with a Self-made score of 9 are the people who came from a largely working-class background or rose from little to nothing. Whereas, the billionaires with a Self-made score of 10 are those who not only grew up poor but also overcame significant obstacles. For the billionaires outside of the US whose self-made score wasn’t mentioned, we shortlisted them based on the same criteria as the self-made scores of 9 and 10. The richest people in the world who came from poor families are ranked in ascending order of their net worth, as of September 25.

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40 Richest People in the World Who Came From Poor Families

40. Harry Stine

Net Worth: $10.2 Billion

Harry Stine comes from humble beginnings as he was born to a farmer dad. Stine founded and runs Stine Seed, one of the largest seed companies in the world. With a net worth of $10.2 billion, Harry Stine ranks among the 40 richest people in the world who came from poor families.

39. Bernard Marcus

Net Worth: $11.1 Billion

Bernard Marcus was born in Russia and migrated to the US with his parents and lived his childhood life in a walk-up tenement in New Jersey. Bernie Marcus co-founded Home Depot along with Arthur Blank in 1978.

38. Sky Xu

Net Worth: $11.2 Billion

Sky Xu comes from an extremely poor background as his mother was a garment worker. Xu is cofounder and CEO of Shein, a fast-fashion firm famous among Gen Z, selling trendy clothes in over 150 countries. Sky Xu ranks among the richest people in the world who come from poor families.

37. Goh Cheng Liang

Net Worth: $11.4 Billion

Goh Cheng Liang grew up in poverty before he began making paints in a small factory in Singapore. In 1962, Liang went on to partner with Nippon Paint and today he is the majority shareholder in the firm.

36. David Steward

Net Worth: $11.4 Billion

David Steward grew up in the segregated South and his father worked as a mechanic, janitor, and trash collector. After a lot of hardships, Steward founded the IT provider World Wide Technology. With a net worth of $11.4 billion, David Steward ranks among the 40 richest people in the world who came from poor families.

35. Terry Gou

Net Worth: $11.5 Billion

Terry Gou’s family fled to Taiwan in 1949 after the Chinese Civil War. Terry Gou is the founder of Hon Hai Precision, the world’s largest electronics contract manufacturer with over 40% market share.

34. Charoen Sirivadhanabhakdi

Net Worth: $12.6 Billion

Charoen Sirivadhanabhakdi is the son of a street vendor from Bangkok. Sirivadhanabhakdi makes his fortune from Chang beer, Thailand’s largest beverage producer and distributor by revenue. Charoen Sirivadhanabhakdi ranks 34th among the richest people in the world who came from poor families.

33. Li Xiting

Net Worth: $12.9 Billion

Li Xiting was born in a rural village of his family name in Dangshan County. Xiting is cofounder and chairman of Shenzhen Mindray Bio-Medical Electronics, a supplier of medical devices.

32. Judy Love

Net Worth: $13.1 Billion

In 1964, along with her husband Tom, Judy Love founded the truck stop and convenience store chain Love’s Travel Stops & Country Stores. The couple first leased a gas station in Watonga via a $5,000 loan from Tom’s parents. Judy Love is one of the richest people in the world who came from poor families.

31. Shahid Khan

Net Worth: $13.3 Billion

Shahid Khan migrated from Pakistan to the US and did several odd jobs before buying Flex-N-Gate from his former employer in 1980. Today, Shahid Khan owns the NFL’s Jacksonville Jaguars, the UK’s Fulham football club, and launched All Elite Wrestling (AEW) in 2019.

30. David Sun

Net Worth: $13.9 Billion

David Sun immigrated from Taiwan to the US with his wife Diana back in 1977, looking for a new life with greater opportunity. David is a co-founder and operates Kingston Technology, which manufactures storage and memory products. David Sun ranks 30th among the richest people in the world who came from poor families.

29. John Tu

Net Worth: $14 Billion

John Tu had to move from Chongqing to Shanghai in 1945 before migrating to Taiwan two years later following the Chinese Civil War. Tu is a longtime partner of David Sun and co-founded Kingston Technology.

28. James Dyson

Net Worth: $14.1 Billion

James Dyson’s father died when he was very young and he had to struggle all the way up. In 1978, Dyson set out to invent a better version of the vacuum using a cyclone to lift dirt. With a net worth of $14.1 billion, James Dyson ranks among the 40 richest people in the world who came from poor families.

27. Ernest Garcia, II

Net Worth: $14.1 Billion

Ernest Garcia, II is the largest shareholder in Carvana, an online retailer of used cars and making auto loans. Garcia also owns and runs DriveTime Automotive.

26. Israel Englander

Net Worth: $14.2 Billion

Israel Englander is the son of Polish immigrants. Englander founded the hedge fund Millennium Management in 1989. Israel Englander has a net worth of $14.2 billion and ranks among the richest people in the world who came from poor families.

25. Manuel Villar

Net Worth: $14.4 Billion

Manuel Villar comes from a humble background and his mother was a seafood vendor. Villar chairs property developer Vista Land & Lifescapes and has stakes in several other companies.

24. Wang Wei

Net Worth: $15.5 Billion

Wang Wei moved to Hong Kong at a young age. Wang founded chairs S.F. Holding and has a net worth of $15.5 billion. Wang Wei ranks among the 40 richest people in the world who came from poor families.

23. Eric Smidt

Net Worth: $15.6 Billion

Eric Smidt started work as a teenager to fund his high school studies. Smidt is the CEO of Harbor Freight Tools, a home improvement retailer that has over 1,300 stores.

22. Jan Koum

Net Worth: $16.2 Billion

Jan Koum moved from Ukraine to the US. Koum co-founded WhatsApp, which was sold to Meta Platforms for $22 billion in 2014. Jan Koum ranks 22nd among the richest people in the world who came from poor families.

21. James Ratcliffe

Net Worth: $16.7 Billion

James Ratcliffe went from zero to hero and founded the chemical powerhouse Ineos Group. With a majority stake in the company, James Ratcliffe is one of the richest people in the world who came from poor families.

20. Lei Jun

Net Worth: $17 Billion

Lei Jun’s parents were teachers in China and he grew up in the underdeveloped countryside of Hubei. Jun is co-founder and chairman of Xiaomi, one of the largest smartphone brands.

19. Harry Triguboff

Net Worth: $17.1 Billion

Harry Triguboff had a difficult childhood moving places. Triguboff apartment-tower development company, Meriton, has a strong presence in Sydney. Harry Triguboff is one of the richest people in Australia who came from poor families.

18. Henry Samueli

Net Worth: $17.9 Billion

Henry Samueli’s parents are Polish-Jewish immigrants who survived the German Nazi occupation of Europe and arrived in the US with almost nothing. Samueli is co-founder and chairman of chipmaker Broadcom.

17. Harold Hamm

Net Worth: $18.5 Billion

Harold Hamm grew up in rural Oklahoma and was the last of 13 children born to sharecroppers. Hamm founded and chairs Continental Resources, one of the United States’ biggest independent oil companies. Harold Hamm is one of the richest people in the world who came from poor families.

16. Andreas von Bechtolsheim

Net Worth: $20.2 Billion

Andreas von Bechtolsheim grew up in a poor family. Andreas is the co-founder and chief architect of network switching company Arista Networks.

15. Wang Chuanfu

Net Worth: $20.4 Billion

Wang Chuanfu was born in a farm village in one of China’s poorest provinces in 1966. Chuanfu was orphaned as a teen and raised by his elder brother and sister. Chuanfu is the CEO of BYD and has led it to become one of the world’s largest EV companies.

14. François Pinault

Net Worth: $21 Billion

François Pinault grew up in a rural countryside in France and his father was a timber trader. Pinault founded Kering, which owns some of the top luxury brands including Saint Laurent, Alexander McQueen, and Gucci. François Pinault ranks among the 40 richest people in the world who came from poor families.

13. Diane Hendricks

Net Worth: $21.9 Billion

Diane Hendricks was born in 1947 and grew up with eight sisters on a small dairy farm in Wisconsin. Diane Hendricks co-founded ABC Supply, one of the largest wholesale distributors of roofing, siding, and windows in the US.

12. John Menard, Jr.

Net Worth: $22.9 Billion

John Menard, Jr. is the eldest of eight siblings and grew up in a low-income house. John Menard owns the home improvement retailer, Menards. With a net worth of over $22 billion, John Menard, Jr. ranks amongst the richest people in the world who came from poor families.

11. Radhakishan Damani

Net Worth: $23.5 Billion

Radhakishan Damani wasn’t raised in wealth and comes from a humble background. Damani owns the supermarket retail giant Avenue Supermarts.

10. Jack Ma

Net Worth: $24.7 Billion

Jack Ma struggled throughout his life until he co-founded Alibaba Group, one of the largest e-commerce groups in the world. Jack Ma ranks 10th among the richest people in the world who came from poor families.

9. Alexey Mordashov

Net Worth: $25.5 Billion

Alexey Mordashov’s parents were steel mill workers. Mordashov is the majority shareholder in the steel company Severstal.

8. He Xiangjian

Net Worth: $26.2 Billion

He Xiangjian comes from a humble background. Xiangjian built Midea Group into one of the world’s largest appliance makers. He Xiangjian ranks among the 40 richest people in the world who came from poor families.

7. Lee Shau Kee

Net Worth: $29.1 Billion

Lee Shau Kee was the fourth of five children born to a farming family. In 1976, Lee started Henderson Land Development, the property firm that makes up the bulk of his wealth.

6. Len Blavatnik

Net Worth: $30 Billion

Len Blavatnik was born in Ukraine and then moved to Moscow. In 1978, Blavatnik immigrated to the US with his family. Blavatnik made his early fortune from Russian oil company TNK-BP and purchased Warner Music in 2011. With a net worth of $30 billion, Len Blavatnik ranks sixth among the richest people in the world who came from poor families.

5. Masayoshi Son

Net Worth: $31.4 Billion

Masayoshi Son belongs to the Zainichi Korean family who reside in Japan. Son founded and runs investment giant SoftBank Group.

4. Li Ka-Shing

Net Worth: $36.5 Billion

Li Ka-Shing was born into a poor family who migrated from China to Hong Kong in 1940 after the Japanese invasions. In May 2018, Li retired as chairman of CK Hutchison Holdings and CK Asset Holdings. Li Ka-Shing ranks among the richest people in the world who came from poor families.

3. Thomas Peterffy

Net Worth: $41.6 Billion

Thomas Peterffy’s father emigrated to the US after the failure of the Hungarian Revolution in 1956. Peterffy founded Interactive Brokers in 1993.

2. Sergey Brin

Net Worth: $129.6 Billion

Sergey Brin migrated from Russia to the US at a young age with his parents, suffering from antisemitic discrimination back in the 1970s. Sergey Brin co-founded Google, now Alphabet Inc., and is one of the richest people in the world who came from poor families.

1. Larry Ellison

Net Worth: $202.2 Billion

Larry Ellison is the founder of Oracle and ranks first among the richest people in the world who came from poor families. Ellison’s mother sent him to her aunt and he was adopted by her.

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Disclosure: None. This article is originally published on Insider Monkey.