As a financial advisor with over two decades of experience, I’ve witnessed countless shifts in the global economic landscape. But nothing quite compares to the wealth accumulation we’ve seen in recent years, particularly among the world’s elite. The year 2024 has brought some fascinating changes to the list of the world’s wealthiest individuals, reflecting not just personal success stories, but broader trends in technology, luxury goods, and global markets.
Based on data from the Real-Time Billionaires List, we’ll dive into the fortunes of the top 10 richest people in the world as of 2024. What’s particularly striking this year is the dominance of tech moguls, who occupy seven out of the top ten spots. This underscores the continuing influence of technology on our economy and daily lives. From e-commerce giants to social media tycoons and AI innovators, these individuals have shaped the digital age we live in.
1. Elon Musk – $304 billion
Elon Musk, the visionary entrepreneur behind Tesla and SpaceX, has solidified his position as the world’s wealthiest individual with a staggering net worth of $304 billion. Musk’s fortune has seen a remarkable surge in recent years, driven primarily by the phenomenal success of Tesla, which reached a trillion-dollar market valuation in 2024.
The South African-born billionaire’s wealth is largely tied to his significant stake in Tesla, where he serves as CEO. The electric vehicle company’s stock has experienced substantial growth, particularly following Donald Trump’s election victory in 2024, which investors believe could create a favorable environment for Tesla’s business. Musk’s other ventures, including SpaceX and his involvement in artificial intelligence through xAI, have also contributed to his immense wealth.
Musk’s career has been marked by groundbreaking innovations and ambitious goals. From co-founding PayPal to revolutionizing the automotive industry with Tesla and pushing the boundaries of space exploration with SpaceX, Musk has consistently demonstrated his ability to disrupt traditional industries. His recent focus on autonomous driving technology and plans for a “Cybercab” robo-taxi service further illustrate his forward-thinking approach to business and technology.
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 ascended to become the world’s second-richest person with a net worth of $230.7 billion. Ellison’s wealth has seen a dramatic increase in recent years, with a surge of nearly $58 billion in 2024 alone.
The 80-year-old tech veteran’s fortune is primarily derived from his approximately 40% stake in Oracle, a company he co-founded in 1977. Oracle’s stock has more than doubled in value since late 2022, driven by growing investor optimism about the company’s role in the artificial intelligence boom. The database specialist has seen a significant increase in demand for its cloud computing services and data centers from AI companies.
Ellison’s career spans over four decades in the technology industry. He served as Oracle’s CEO from 1977 to 2014 and has since continued to play a crucial role as the company’s technology chief. Beyond Oracle, Ellison has diversified his investments, including a notable stake in Tesla, where he previously served as a board member. His rise to the upper echelons of global wealth reflects both his long-standing success with Oracle and the company’s recent positioning in the AI-driven tech landscape.
3. Jeff Bezos – $224.5 billion
Jeff Bezos, the founder of Amazon, holds the position of third-richest person in the world with a net worth of $224.5 billion. Bezos’ wealth reached an all-time high of $228 billion in November 2024, fueled by Amazon’s strong stock performance.
The vast majority of Bezos’ fortune is tied to his ownership of Amazon shares, with his stake of just under 9% of the company’s stock. Amazon’s stock price has seen significant growth, rising over 40% in 2024 alone, contributing substantially to Bezos’ wealth increase.
Bezos’ career is synonymous with the rise of e-commerce and cloud computing. He founded Amazon in 1994 as an online bookstore, and under his leadership, the company expanded into a global e-commerce and technology giant. Although he stepped down as CEO in 2021, Bezos remains executive chairman and continues to play a significant role in the company’s strategic decisions. Beyond Amazon, Bezos has diversified his interests, including ownership of The Washington Post and his space exploration company, Blue Origin.
4. Mark Zuckerberg – $203.8 billion
Mark Zuckerberg, the co-founder and CEO of Meta Platforms (formerly Facebook), has seen his net worth soar to $203.8 billion, securing his position as the fourth wealthiest person globally. Zuckerberg’s fortune has experienced a remarkable resurgence, more than tripling since 2022, largely due to Meta’s successful pivot towards artificial intelligence and the metaverse.
The bulk of Zuckerberg’s wealth is tied to his substantial stake in Meta Platforms, where he owns about 13% of the company’s shares. Meta’s stock price has surged in 2024, driven by strong financial performance and growing investor confidence in the company’s AI initiatives and virtual reality projects. The success of Meta’s Reality Labs division, which focuses on AR and VR technologies, has played a crucial role in this financial turnaround.
Zuckerberg’s career has been defined by his role in shaping the social media landscape. He co-founded Facebook in 2004 while studying at Harvard, and under his leadership, the platform has grown into a global tech giant with billions of users across its family of apps, including Instagram and WhatsApp. His recent focus on developing the metaverse and integrating AI across Meta’s products demonstrates his continued drive to innovate and shape the future of digital interaction.
5. Bernard Arnault & family – $164.6 billion
Bernard Arnault, the Chairman and CEO of LVMH (Louis Vuitton Moët Hennessy), holds the fifth position on the list of the world’s wealthiest individuals with a net worth of $164.6 billion. Arnault’s fortune, which he shares with his family, is primarily derived from their controlling stake in LVMH, the world’s largest luxury goods conglomerate.
The Arnault family’s wealth has seen significant fluctuations in recent years, reflecting the volatile nature of the luxury goods market. Despite global economic challenges, LVMH has maintained its position as a leader in the luxury sector, with strong performances across its portfolio of over 75 prestigious brands, including Louis Vuitton, Dior, and Hennessy.
Arnault’s career in luxury goods began in 1984 when he acquired Boussac, a textile company that owned Christian Dior. He subsequently transformed LVMH into a global powerhouse through a series of strategic acquisitions and brand developments. Under his leadership, LVMH has expanded its reach across various luxury segments, including fashion, wines and spirits, perfumes and cosmetics, and watches and jewelry. Arnault’s business acumen and vision have been instrumental in navigating the luxury market’s challenges and opportunities, solidifying his family’s position among the world’s wealthiest.
6. Larry Page – $147.7 billion
Larry Page, co-founder of Google and former CEO of its parent company Alphabet, ranks as the sixth richest person in the world with a net worth of $147.7 billion. Page’s wealth is primarily tied to his significant stake in Alphabet, which has seen substantial growth in 2024 due to the company’s strong performance in AI and cloud computing sectors.
Page’s fortune has benefited from Alphabet’s rising stock price, which has been driven by the company’s successful AI initiatives, including advancements in machine learning and natural language processing. The integration of AI across Google’s product suite and the growing adoption of Google Cloud services have contributed to the company’s robust financial performance.
Page’s career has been marked by innovation and technological advancement. He co-founded Google with Sergey Brin in 1998, revolutionizing internet search and digital advertising. As CEO of Google and later Alphabet, Page played a crucial role in expanding the company’s reach beyond search into areas such as mobile operating systems (Android), video sharing (YouTube), and autonomous vehicles (Waymo). Although he stepped down from his executive role at Alphabet in 2019, Page remains a board member and significant shareholder, continuing to influence the company’s long-term strategy and vision for the future of technology.
7. Warren Buffett – $145.9 billion
Warren Buffett, often referred to as the “Oracle of Omaha,” has solidified his position as one of the world’s most successful investors with a net worth of $145.9 billion. As the CEO of Berkshire Hathaway, Buffett has built his fortune through astute value investing and strategic acquisitions of undervalued companies.
Buffett’s career spans over six decades, during which he has consistently outperformed the market. His investment philosophy, focused on long-term value and identifying companies with strong fundamentals, has made him an icon in the financial world. Despite his immense wealth, Buffett is known for his frugal lifestyle and commitment to philanthropy, having pledged to give away the majority of his fortune to charitable causes.
8. Sergey Brin – $141.1 billion
Sergey Brin, co-founder of Google and former president of its parent company Alphabet Inc., has amassed a fortune of $141.1 billion. Brin’s wealth is primarily derived from his significant stake in Alphabet, which has seen tremendous growth due to Google’s dominance in the search engine market and its successful ventures into various technology sectors.
Brin’s career began when he co-founded Google with Larry Page in 1998, revolutionizing the way people access information online. Although he stepped down from his role as Alphabet’s president in 2019, Brin remains a controlling shareholder and board member. His innovative spirit and contributions to the tech industry have played a crucial role in shaping the digital landscape we know today.
9. Jensen Huang – $128.7 billion
Jensen Huang, the co-founder, president, and CEO of NVIDIA Corporation, has seen his net worth soar to $128.7 billion, largely due to the company’s pivotal role in the artificial intelligence boom. Huang’s wealth has experienced a meteoric rise in recent years, reflecting NVIDIA’s dominance in the GPU market and its growing influence in AI and machine learning technologies.
Huang’s career began in the tech industry, working at AMD before co-founding NVIDIA in 1993. Under his leadership, NVIDIA has transformed from a graphics chip company into a powerhouse in AI and high-performance computing. Huang’s vision and ability to anticipate and capitalize on technological trends have been instrumental in NVIDIA’s success and his own wealth accumulation.
10. Amancio Ortega – $128.5 billion
Amancio Ortega, the founder of Inditex fashion group, best known for its Zara brand, has built a retail empire that has led to a net worth of $128.5 billion. Ortega’s fortune stems from his majority stake in Inditex, which has become one of the world’s largest fashion retailers.
Ortega’s career in fashion began humbly, starting with a small workshop producing quilted bathrobes in 1963. He opened the first Zara store in 1975, and over the decades, expanded Inditex to include multiple brands and thousands of stores worldwide. Ortega’s success is attributed to his innovative “fast fashion” model, which revolutionized the retail industry by quickly translating catwalk designs into affordable, mass-market clothing. Despite stepping down as chairman in 2011, Ortega remains a significant figure in the company and continues to benefit from its global success.