Apr 2, 2024
The Richest People in 2024: A Record-Breaking Year for Billionaires
This year has marked an unprecedented milestone for the world’s wealthiest individuals. With global stock markets soaring to all-time highs, the ranks of billionaires have swelled like never before, both in number and net worth. The 2024 World’s Billionaires list by Forbes reveals a staggering 2,781 billionaires with a collective wealth of $14.2 trillion, up by $2 trillion from last year and $1.1 trillion from the previous peak in 2021. Remarkably, two-thirds of the individuals on the list have seen their fortunes grow over the past year, many by extraordinary amounts.
The Big Winners of 2024
Just ten individuals accounted for $507 billion of the total gains, with eight of them being tech magnates tied to the “Magnificent Seven”—the leading tech giants: Apple, Microsoft, Alphabet, Amazon, Nvidia, Tesla, and Meta. The rise of artificial intelligence and its impact on these companies has been a significant driver of this year’s wealth explosion.
Mark Zuckerberg Leads the Pack
Meta CEO Mark Zuckerberg has emerged as the biggest gainer, adding a jaw-dropping $112.6 billion to his net worth. His wealth soared as Meta’s stock tripled in value, bolstered by extensive layoffs and ambitious investments in AI and the metaverse. With a net worth of $177 billion, Zuckerberg is now the fourth-richest person in the world, a dramatic leap from his position at No. 16 last year.
Tech Titans Riding the AI Wave
Several tech billionaires have harnessed the power of AI to drive their fortunes upward:
- Jensen Huang, CEO and cofounder of Nvidia, saw his wealth grow by $55.9 billion as his company’s dominance in AI chips pushed Nvidia into the global spotlight.
- Steve Ballmer, former CEO of Microsoft, gained $40.3 billion as Microsoft solidified its position as the leading investor in OpenAI.
- Larry Ellison, Oracle cofounder, added $34 billion to his fortune as the company’s cloud computing services benefited from the AI surge.
Wealth Beyond U.S. Shores
While American billionaires dominated the gains, notable wealth creation also occurred outside the United States:
- Prajogo Pangestu, an Indonesian magnate, saw his net worth increase by $38.1 billion, thanks to the public listings of his renewable energy and coal mining firms.
- Gautam Adani, an Indian infrastructure tycoon, rebounded from financial challenges to add $36.8 billion to his fortune, supported by favorable rulings from India’s Supreme Court.
Top 10 Gainers in 2024
Below are the billionaires who saw the largest increases in their wealth this year:
- Mark Zuckerberg – $177 Billion (+$112.6 Billion)
- Jeff Bezos – $194 Billion (+$80 Billion)
- Jensen Huang – $77 Billion (+$55.9 Billion)
- Michael Dell – $91 Billion (+$40.9 Billion)
- Steve Ballmer – $121 Billion (+$40.3 Billion)
- Prajogo Pangestu – $43.4 Billion (+$38.1 Billion)
- Gautam Adani – $84 Billion (+$36.8 Billion)
- Larry Page – $114 Billion (+$34.8 Billion)
- Sergey Brin – $110 Billion (+$34 Billion)
- Larry Ellison – $141 Billion (+$34 Billion)
The Billionaire Landscape in 2024
This year underscores the growing influence of technology and innovation in wealth creation. While uncertainties remain in the global economy, the enduring rise of artificial intelligence and cloud computing continues to reshape industries and generate wealth at an unprecedented scale.
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