Despite COVID-19 and the economic downturn, the total wealth of the world's richest has increased by more than $5 trillion over the past year, according to data compiled by Forbes for its annual billionaires list.

Forbes' 35th annual billionaires list discovered there are a record-breaking 2,755 billionaires in the world in 2021. Of those, there are 493 new billionaires on the list this year that didn't cut in 2020.

Mukesh Ambani of India has become the richest person in Asia, ranked No. 10 and worth an estimated $84.5 billion. He nudges out Jack Ma of China, Asia’s richest person a year ago, whose rank dropped to No. 26 (from No. 17 last year) despite a nearly $10 billion jump in his fortune to $48.4 billion.

The combined wealth of the world's billionaires as of March 2021 is some $13.1 trillion—up from $8 trillion total in March 2020.

With a net worth of $177 billion, Amazon CEO Jeff Bezos topped this year's list for the fourth year in a row. Tesla CEO Elon Musk came in at the No. 2 spot at $151 billion, skyrocketing up from 31st on the list last year.

The remaining billionaires in the top five spots are: Bernard Arnault (with a net worth of $150 billion) at No. 3, Bill Gates ($124 billion) at No. 4, and Mark Zuckerberg ($97 billion) at No. 5.

Another notable trend from this year's report was that of the nearly 500 new billionaires in 2021

Among the notable people who appeared on the 2020 billionaires list but did not make the cut in 2021 is a reality TV star and makeup entrepreneur Kylie Jenner. Her sister Kim Kardashian, however, made the billionaires list for the first time this year.

Top 10 bllionaires of World:

#1 | Jeff Bezos

NET WORTH: $177 BILLION

SOURCE OF WEALTH: AMAZON

RESIDENCE: SEATTLE

#2 | Elon Musk

NET WORTH: $151 BILLION

SOURCE OF WEALTH: TESLA, SPACEX

RESIDENCE: AUSTIN, TEXAS

#3 | Bernard Arnault

NET WORTH: $150 BILLION

SOURCE OF WEALTH: LUXURY GOODS

RESIDENCE: PARIS

#4 | Bill Gates

NET WORTH: $124 BILLION

SOURCE OF WEALTH: MICROSOFT

RESIDENCE: MEDINA, WASHINGTON

#5 | Mark Zuckerberg

NET WORTH: $97 BILLION

SOURCE OF WEALTH: FACEBOOK

RESIDENCE: PALO ALTO, CALIFORNIA

#6 | Warren Buffett

NET WORTH: $96 BILLION

SOURCE OF WEALTH: BERKSHIRE HATHAWAY

RESIDENCE: OMAHA, NEBRASKA

#7 | Larry Ellison

NET WORTH: $93 BILLION

SOURCE OF WEALTH: SOFTWARE

RESIDENCE: LANAI, HAWAII

#8 | Larry Page

NET WORTH: $91.5 BILLION

SOURCE OF WEALTH: GOOGLE

RESIDENCE: PALO ALTO, CALIFORNIA

#9 | Sergey Brin

NET WORTH: $89 BILLION

SOURCE OF WEALTH: GOOGLE

RESIDENCE: LOS ALTOS, CALIFORNIA

#10 | Mukesh Ambani

NET WORTH: $84.5 BILLION

SOURCE OF WEALTH: DIVERSIFIED

RESIDENCE: MUMBAI, INDIA

 Data is taken from Forbes.