As a wealth manager, I’ve spent years helping clients grow their fortunes, but even I’m astounded by the sheer magnitude of wealth amassed by the world’s top billionaires in 2024. While my clients often dream of joining the ranks of the ultra-wealthy, the individuals on this list have redefined what it means to be rich in our modern era.
From tech visionaries to retail magnates, these ten titans of industry have not only shaped our global economy but have also set new benchmarks for financial success. Their stories of innovation, strategic acumen, and sometimes, a bit of luck, never fail to fascinate me.
As we dive into the list of the top 10 richest people in the world for 2024 based on data from the Real-Time Billionaires List, prepare to be amazed by the staggering figures and the diverse paths these individuals have taken to reach the pinnacle of wealth.
1. Elon Musk – $304 billion
Elon Musk, the visionary entrepreneur and innovator, continues to hold the title of the world’s wealthiest person with an estimated net worth of $304 billion as of November 2024. Musk’s fortune is primarily derived from his ownership stakes in Tesla, the electric vehicle and clean energy company, and SpaceX, the private space exploration firm.
Musk’s journey to becoming the world’s richest individual has been marked by significant milestones and volatility. In January 2021, he first surpassed Jeff Bezos to claim the top spot on the global wealth rankings. Throughout 2021, Musk’s net worth experienced unprecedented growth, even surpassing the $300 billion mark in November of that year. However, his wealth has also seen dramatic fluctuations, including a historic $200 billion loss in December 2022.
Despite these fluctuations, Musk’s innovative ventures and ambitious goals continue to drive his financial success. His wealth is not only a reflection of his business acumen but also his vision for transforming various industries, from automotive to space exploration and renewable energy.
2. Larry Ellison – $230.7 billion
According to the Real-Time Billionaires List, Larry Ellison, the co-founder and technology chief of Oracle Corporation, has secured the second position on the list of the world’s wealthiest individuals with a net worth of $230.7 billion. Ellison’s meteoric rise in the wealth rankings is a testament to the growing importance of cloud computing and artificial intelligence in the tech industry.
Ellison’s fortune has seen a remarkable surge in recent years, with his net worth increasing by an astounding $57.8 billion in 2024 alone. This wealth explosion is primarily attributed to Oracle’s soaring stock price, which has more than doubled since October 2022. The company’s pivotal role in the AI boom, particularly its cloud database services, has fueled investor enthusiasm and driven up Oracle’s market value.
At 80 years old, Ellison’s journey from co-founding Oracle in 1977 to becoming one of the world’s richest individuals is a testament to his business acumen and the enduring relevance of Oracle in the rapidly evolving tech landscape. His substantial stake in Tesla, worth about $10 billion, further diversifies his investment portfolio and contributes to his immense wealth.
3. Jeff Bezos – $224.5 billion
Jeff Bezos, the founder and executive chairman of Amazon, holds the third spot on the list of the world’s wealthiest individuals with a net worth of $224.5 billion. Bezos’s fortune is primarily derived from his stake in Amazon, the e-commerce and cloud computing giant he founded in 1994.
Throughout his career, Bezos has been a consistent presence at the top of global wealth rankings. He held the title of the world’s wealthiest person from 2017 to 2021, before being surpassed by Elon Musk. Bezos’s wealth has been built on the back of Amazon’s phenomenal growth and diversification into various sectors, including cloud computing through Amazon Web Services (AWS).
Beyond Amazon, Bezos has expanded his influence and investments into other areas. He acquired The Washington Post in 2013 for $250 million and manages numerous investments through his venture capital firm, Bezos Expeditions. In 2021, Bezos stepped down as the CEO of Amazon but continues to play a significant role as the company’s executive chairman, overseeing its strategic direction and long-term goals.
4. Mark Zuckerberg – $203.8 billion
Mark Zuckerberg, the co-founder and CEO of Meta Platforms (formerly Facebook), has amassed a staggering net worth of $203.8 billion, securing his position as the fourth wealthiest person in the world. Born on May 14, 1984, in White Plains, New York, Zuckerberg’s journey to becoming a tech titan began during his time at Harvard University.
In February 2004, Zuckerberg launched “Thefacebook” from his college dorm room, alongside co-founders Eduardo Saverin, Andrew McCollum, Dustin Moskovitz, and Chris Hughes. The platform quickly gained popularity among college students, leading Zuckerberg to drop out of Harvard in his sophomore year to focus on developing the company. Under his leadership, Facebook expanded rapidly, becoming the world’s largest social media platform and eventually evolving into Meta Platforms, encompassing other major services like Instagram and WhatsApp.
Zuckerberg’s wealth is primarily derived from his significant stake in Meta Platforms, where he maintains control through a dual-class share structure. Despite facing numerous challenges, including privacy concerns and regulatory scrutiny, Zuckerberg has consistently demonstrated his ability to adapt and innovate. His commitment to philanthropy is evident through initiatives like the Chan Zuckerberg Initiative, which he founded with his wife, Priscilla Chan, pledging to give away 99% of their wealth over their lifetimes.
5. Bernard Arnault & family – $164.6 billion
Bernard Arnault, the French business magnate, investor, and art collector, holds the fifth position on the list of the world’s wealthiest individuals with a net worth of $164.6 billion. Born on March 5, 1949, in Roubaix, France, Arnault has built his fortune as the founder, chairman, and CEO of LVMH (Louis Vuitton Moët Hennessy), the world’s largest luxury goods company.
Arnault’s journey to becoming a luxury goods tycoon began in 1971 when he joined his father’s construction company, Ferret-Savinel. Demonstrating his business acumen early on, he convinced his father to shift the company’s focus to real estate, renaming it Ferinel. In 1984, Arnault made a pivotal move by acquiring the textile company Boussac Saint-Frères, which owned the prestigious Christian Dior brand. This acquisition marked the beginning of his foray into the luxury goods market.
Under Arnault’s leadership, LVMH has grown into a conglomerate of over 70 brands, including Louis Vuitton, Hennessy, Sephora, and Tiffany & Co. His strategic acquisitions and ability to revitalize heritage brands have been key to LVMH’s success. Arnault is known for his hands-on approach to management and his keen eye for talent in the fashion and luxury industries. Despite his immense wealth, he maintains a relatively low public profile, focusing on expanding his luxury empire and his passion for art collecting.
6. Larry Page – $147.7 billion
Larry Page, the co-founder of Google and former CEO of its parent company Alphabet Inc., has amassed a net worth of $147.7 billion, placing him sixth on the list of the world’s wealthiest individuals. Born on March 26, 1973, in East Lansing, Michigan, Page’s journey to becoming a tech billionaire began during his time as a Ph.D. student at Stanford University.
In 1998, Page co-founded Google with Sergey Brin, revolutionizing the way people access and interact with information online. The company’s innovative search engine quickly became the world’s most popular, and under Page’s leadership, Google expanded into various other tech sectors, including mobile operating systems (Android), video sharing (YouTube), and cloud computing.
Page served as Google’s CEO from 2011 to 2015, overseeing the company’s restructuring into Alphabet Inc. His wealth primarily stems from his significant ownership stake in Alphabet, where he still holds considerable voting power along with co-founder Brin. Page’s innovative spirit and focus on “moonshot” projects have been instrumental in Google’s continued growth and diversification.
Beyond his role at Google and Alphabet, Page has invested in various ventures, including flying car companies and renewable energy projects. He has also been involved in philanthropic efforts, particularly through his family foundation, the Carl Victor Page Memorial Fund. Despite stepping back from day-to-day operations at Alphabet, Page’s influence in the tech world remains substantial, and his wealth continues to grow as Alphabet’s stock value increases.
7. Warren Buffett – $145.9 billion
Warren Buffett, often referred to as the “Oracle of Omaha,” is one of the most successful investors in history and the CEO of Berkshire Hathaway. Born in 1930 in Omaha, Nebraska, Buffett showed an aptitude for business and investing from a young age. He purchased his first stock at age 11 and filed his first tax return at 13.
Buffett’s investment philosophy, centered on value investing, has been the cornerstone of his success. He built his fortune primarily through his company Berkshire Hathaway, which he transformed from a struggling textile manufacturer into a massive conglomerate with holdings in various industries. His long-term, patient approach to investing has consistently outperformed the market, earning him a reputation as one of the greatest investors of all time.
Despite his immense wealth, Buffett is known for his frugal lifestyle and commitment to philanthropy. He has pledged to give away 99% of his wealth to charitable causes during his lifetime or upon his death, primarily through the Bill & Melinda Gates Foundation. Buffett’s influence extends beyond finance, as his annual shareholder letters and public statements are closely followed for insights into the economy and investment strategies.
8. Sergey Brin – $141.1 billion
Sergey Brin, born in Moscow in 1973, is a computer scientist and internet entrepreneur best known as the co-founder of Google. Brin immigrated to the United States with his family at the age of six, eventually studying mathematics and computer science at the University of Maryland before pursuing a Ph.D. at Stanford University.
It was at Stanford where Brin met Larry Page, and together they developed the idea for a new search engine that would rank web pages based on their relevance and importance. This project evolved into Google, which they co-founded in 1998. Google’s revolutionary approach to internet search quickly made it the dominant player in the field, and the company expanded into various other areas of technology.
Brin served as the president of Google’s parent company, Alphabet Inc., until stepping down from the role in December 2019. However, he remains a controlling shareholder and board member. Beyond his work at Google, Brin has invested in various projects, including space exploration and the development of artificial meat. He has also been involved in philanthropic efforts, particularly in the areas of Parkinson’s disease research and support for refugees.
9. Jensen Huang – $128.7 billion
Jensen Huang, born in Taiwan in 1963, is the co-founder, president, and CEO of Nvidia Corporation, a company that has become a powerhouse in the fields of graphics processing units (GPUs) and artificial intelligence hardware. Huang moved to the United States as a child and later studied electrical engineering at Oregon State University and Stanford University.
In 1993, at the age of 30, Huang co-founded Nvidia, recognizing the potential for specialized processors in the emerging field of 3D graphics for gaming. Under his leadership, Nvidia has expanded beyond gaming into areas such as data centers, autonomous vehicles, and artificial intelligence. The company’s GPUs have become essential components in the development and deployment of AI systems, contributing significantly to Huang’s wealth.
Huang is known for his hands-on leadership style and his ability to anticipate and capitalize on technological trends. His vision has been instrumental in positioning Nvidia at the forefront of the AI revolution, leading to a surge in the company’s stock price and market capitalization. Despite his success, Huang maintains a relatively low profile and is known for his focus on innovation and long-term thinking.
10. Amancio Ortega – $128.5 billion
Amancio Ortega, born in 1936 in Spain, is the founder of Inditex, the parent company of the global fashion retailer Zara. Ortega’s journey to becoming one of the world’s wealthiest individuals is a remarkable story of entrepreneurship and innovation in the fashion industry.
Ortega began his career in the textile industry at a young age, working as a shop hand for a local shirtmaker. In 1963, he founded his own company, Confecciones Goa, which made bathrobes. In 1975, he opened the first Zara store with his wife, Rosalía Mera, in A Coruña, Spain. Zara’s innovative “fast fashion” model, which quickly brings runway trends to stores at affordable prices, revolutionized the retail clothing industry.
Under Ortega’s leadership, Inditex expanded globally and now includes several other fashion brands such as Pull&Bear, Massimo Dutti, and Bershka. Despite stepping down as chairman of Inditex in 2011, Ortega still owns 59% of the company. Known for his privacy and modest lifestyle, Ortega rarely gives interviews and maintains a low public profile. His wealth has allowed him to invest heavily in real estate, with properties in major cities around the world.