Over the years, these men have amassed an incredible array of real estate holdings, spending at least a small portion of their enormous fortunes on some of the swankiest properties across the U.S. – and beyond. The who are the five richest people in the world company saw significant growth in market capitalization during 2020 and 2021, which helped Musk join the ranks of the world’s top 10 richest people by September 2021. At its peak in November 2021, Musk’s fortune reached an astounding $320 billion. If the fortunes of the wealthiest individuals continue to grow at their current pace, the world could see its first trillionaire in the next 10 years, the report projects.
Forbes World’s Billionaires List
Larry Ellison is the man behind one of the world’s largest software companies, Oracle, which he founded in 1977. On 6 December, Meta stocks hit a new 52-week high of $629.79, while its shares gained 80% this year. According to CNBC, this has pushed Meta’s market cap close to $1.6 trillion, and has also significantly boosted Zuckerberg’s net worth. The list differs from The Sunday Times Rich List 2024, where Gopi Hinduja and family have taken the top spot with a net worth of £37 billion. The UK’s former prime minister Rishi Sunak has also made this list, ranking 20 places higher compared to 2023. The Law Firm Accounts Receivable Management source defines wealth as a snapshot of a person’s total wealth using stock prices.
World’s wealthiest individuals
An S&P 500 CEO earns 272 times more than the average worker, according to a separate report from labor union AFL-CIO. “These extremes cannot be accepted as the new norm, the world can’t afford another decade of division,” Oxfam interim CEO Aleema Shivji said in a statement accompanying the report. Earlier this year, Arnault nominated two of his sons—Alexandre and Frédéric—to the board of LVMH and in November Alexandre was named deputy CEO of LVMH’s wine and spirits division. His daughter Delphine, who runs Dior, and son Antoine, already sit on the board. A big increase in the value of SpaceX in December was the main reason for the $91 billion increase in Musk’s fortune in the past month. Widely known as the Oracle of Omaha, Buffett is a buy-and-hold investor who built his fortune by acquiring undervalued companies.
Jeff Bezos
- Elon Musk, Jeff Bezos, Larry Ellison, Warren Buffett, and Bernard Arnault (including his family) all topped the list of the world’s richest people whose net worth skyrocketed from March 2020 to November 2023.
- In 2000, he merged an online bank he cofounded, X.com with a similar outfit cofounded by Peter Thiel to form PayPal, which eBay bought in 2002 for $1.4 billion.
- He sold this company and used the money to fund the acquisition of the Christian Dior company in 1985.
- The acquisition includes two large, historical buildings and a chauffeur’s residence and garage, totalling nearly 27,000 square feet of interior space.
- However, the listing never appeared to have led to a deal, and that property is now listed off market.
- Like several of the tech billionaires on this list, Larry Page embarked on his path to fame and fortune in a college dorm room.
Arnault is head of LVMH, a luxury fashion and cosmetics conglomerate in France. The family is usually in the top three of Forbes’ wealthiest people in the world lists. With so much of their wealth in publicly traded stocks, the net worth of the richest fluctuates along with the market valuations of the companies they own. Below are the 10 wealthiest people on the planet, according to the Bloomberg Billionaires Index. In this year’s report, Oxfam argues that businesses are raking in big profits, which are helping fuel the fortunes of the wealthy. Seven out of 10 of the world’s largest public companies have either a billionaire CEO or a billionaire as its principal shareholder.
But Oxfam predicts it would take 229 years for global poverty to be eliminated, defined as reducing the number of people earning $6.85 a day Certified Public Accountant to less than 1% globally. Elon Musk, once the richest person in the world, is No. 2 on the list, with a net worth of $195 billion. Musk, the founder of Tesla and SpaceX, also bought Twitter for $44 million in 2022, renaming it X.
- And now, he has now exceeded that amount, with his current net worth sitting at $444 billion.
- Built in 1958, the over 10,000-square-foot layout includes five bedroom and six baths.
- The existence of billionaires in Africa is essential for tackling these issues and promoting sustainable growth.
- Ranked the world’s 67th richest person, Aliko Dangote is a Nigerian businessman and philanthropist, widely recognized as Africa’s richest person.
- Musk owns an estimated 74% of the social media company, which is now worth nearly 70% less than he paid, Forbes estimates.
- When Ellison launched Oracle, it took the world by storm and was favoured by many businesses due to its speed and efficiency.