The American financial magazine Forbes has published its annual list of the 200 wealthiest individuals in the world, which includes two citizens of Cyprus — an 81-year-old shipping magnate and a 77-year-old investment banker.
“For the past year, the wealth of the richest individuals has grown at an unprecedented pace. The wealthy continue to increase their fortunes at an astonishing rate,” Forbes notes.
Cyprus citizens John Fredriksen, with a net worth of €18.2 billion, and Vinod Adani, with €17.91 billion, ranked 118th and 121st, respectively, among the ultra-wealthy.
In total, nine Cypriot billionaires appear on the Forbes 2026 list. Alongside Fredriksen and Adani, the list includes Yakir Gabay, Igor Makarov, Vladimir Krupchak, Sergey Dmitriev, and Stelios, Klelia, and Polis Hadjioannou.
John Fredriksen
Fredriksen earned the majority of his wealth in the oil industry, owning the world’s largest fleet of oil tankers, including vessels registered under the Cypriot flag. He acquired Cypriot citizenship in 2006 due to dissatisfaction with Norway’s tax system. For several consecutive years, Fredriksen has been the richest person in Cyprus.
His portfolio includes Frontline, the world’s fifth-largest oil tanker shipping company, which relocated from Bermuda to Limassol at the end of 2022, and Mowi, which controls 25–30% of the global market for trout and salmon. Now primarily residing in London, Fredriksen renounced his Norwegian citizenship.
Vinod Adani
The Indian businessman has built a diversified portfolio, including a family investment firm based in Dubai. Adani received a Cypriot passport through the “Citizenship by Investment” program. He is the elder brother of Gautam Adani, India’s second-richest individual, with a net worth of €55.4 billion.
Global Billionaire Rankings
Forbes released its 40th annual list of the world’s richest people in 2026. The ranking features a record 3,428 entrepreneurs, investors, and heirs, with combined wealth of $20.1 trillion — an increase of $4 trillion compared to the previous year.
The United States has the largest number of billionaires — 989, including 15 of the 20 richest people. China (including Hong Kong) comes second with 610 billionaires, followed by India with 229. The 2026 list added 390 new billionaires, with nearly two-thirds having built their fortunes independently rather than inheriting them.
Top Three Richest People in the World
The world’s richest person is 54-year-old Elon Musk, with a net worth of $839 billion — the highest figure ever recorded by Forbes. He is more than three times wealthier than his closest competitor, Google co-founder Larry Page, whose net worth is $257 billion. The top three also includes 52-year-old Sergey Brin, with $237 billion. Brin stepped down as CEO of Alphabet, Google’s parent company, in 2019 but remains a board member and controlling shareholder.
Pic Credit: Cyprus Paradise