In a year marked by global turbulence, the world's billionaires have defied the odds, with their fortunes soaring to unprecedented heights. Forbes magazine has just released its highly anticipated list of the planet's wealthiest individuals for 2024, painting a picture of staggering wealth amidst a backdrop of geopolitical instability and economic uncertainty.
The numbers speak for themselves: a record-breaking 2,781 billionaires now populate the globe, an increase of 141 from the previous year and 26 more than the previous record set in 2021. Their collective net worth stands at a mind-boggling $14.2 trillion, a $2 trillion surge from 2023 and a remarkable $1.1 trillion above the previous peak, also set in 2021.
What's even more astounding is the resilience of these billionaires in the face of adversity. Despite ongoing conflicts, political unrest, and inflationary pressures, two-thirds of the list's members have seen their fortunes swell over the past year, while only one-fourth have experienced a decline in wealth.
The driving force behind this surge in wealth lies largely within the upper echelons of the billionaire hierarchy. The top 20 individuals alone have added a jaw-dropping $700 billion to their net worth since 2023, underscoring the concentration of wealth among a select few.
Leading the charge is the United States, which now boasts a record 813 billionaires with a combined net worth of $5.7 trillion. Meanwhile, China maintains its position as the second-largest hub of billionaire wealth, with 473 individuals (including those from Hong Kong) amassing a total fortune of $1.7 trillion. Despite challenges such as weak consumer spending and a real estate downturn that wiped out approximately $300 billion in wealth, China's billionaires remain a formidable force on the global stage.
India, too, has seen a surge in billionaire numbers, with 200 individuals now gracing the list a new record for the country. These Indian billionaires collectively represent a significant portion of the global elite, contributing to the diversity and dynamism of the billionaire landscape.
Forbes' methodology for calculating net worth relies on stock prices and exchange rates as of March 8, 2024, providing a snapshot of wealth in a rapidly changing economic landscape. The full list of the world's billionaires, along with detailed methodology, is available for exploration. For those eager to delve into the details and explore the full spectrum of global wealth, Forbes offers an exhaustive list of the world's billionaires below. This comprehensive compilation provides a fascinating glimpse into the lives and fortunes of the planet's wealthiest individuals, from industry titans to visionary entrepreneurs. Whether you're curious about the latest additions to the billionaire club or keen to track the rise and fall of fortunes over time, the list below is a treasure trove of information waiting to be uncovered. So, without further ado, see the list below and embark on a journey through the stratosphere of global wealth.
01. Bernard Arnault & family
Bernard Arnault oversees the LVMH empire of 75 fashion and cosmetics brands, including Louis Vuitton and Sephora.
- Net Worth - $233B
- Age - 75
- Country/Territory - France
- Source - LVMH
- Industry - Fashion & Retail
02. Elon Musk
Elon Musk cofounded six companies, including electric car maker Tesla, rocket producer SpaceX, and tunneling startup Boring Company.
- Net Worth - $195B
- Age - 52
- Country/Territory - United States
- Source - Tesla, SpaceX
- Industry - Automotive
03. Jeff Bezos
Jeff Bezos founded e-commerce giant Amazon in 1994 out of his Seattle garage.
- Net Worth - $194B
- Age - 60
- Country/Territory - United States
- Source - Amazon
- Industry - Technology
04. Mark Zuckerberg
- Net Worth - $177B
- Age - 39
- Country/Territory - United States
- Source - Facebook
- Industry - Technology
05. Larry Ellison
Larry Ellison is chairman, chief technology officer and cofounder of software giant Oracle, of which he owns just under 40%.
- Net Worth - $141B
- Age - 79
- Country/Territory - United States
- Source - Oracle
- Industry - Technology
06. Warren Buffett
Known as the "Oracle of Omaha," Warren Buffett is one of the most successful investors of all time.
- Net Worth - $133B
- Age - 93
- Country/Territory - United States
- Source - Berkshire Hathaway
- Industry - Finance & Investments
07. Bill Gates
Bill Gates diversified his fortune from software firm Microsoft into dozens of holdings, including waste disposal firm Republic Services and tractor maker Deere & Co.
- Net Worth - $128B
- Age - 68
- Country/Territory - United States
- Source - Microsoft
- Industry - Technology
08. Steve Ballmer
Steve Ballmer is the high-wattage former CEO of Microsoft, who led the company from 2000 to 2014.
- Net Worth - $121B
- Age - 68
- Country/Territory - United States
- Source - Microsoft
- Industry - Technology
09. Mukesh Ambani
Mukesh Ambani chairs and runs $110 billion (revenue) Reliance Industries, which has interests in petrochemicals, oil and gas, telecom, retail and financial services.
- Net Worth - $116B
- Age - 66
- Country/Territory - India
- Source - Diversified
- Industry - Diversified
10. Larry Page
Larry Page stepped down as CEO of Alphabet, the parent company of Google, in 2019 but remains a board member and a controlling shareholder.
- Net Worth - $114B
- Age - 51
- Country/Territory - United States
- Source - Google
- Industry - Technology
In the end, the Forbes list serves not only as a celebration of economic achievement but also as a call to action for a more equitable and sustainable world-one where prosperity is not measured solely in dollars and cents, but in the well-being and prosperity of all.