As a finance student, I’ve always been fascinated by the immense wealth accumulated by the world’s richest individuals. There’s something captivating about tracking the fluctuations in their net worth and understanding the sources of their vast fortunes. As we dive into 2024, the landscape of global wealth continues to evolve, with familiar faces and newcomers alike vying for top spots on the list of the world’s wealthiest people.
This year’s lineup of the top 10 richest people in the world showcases the dynamic nature of wealth in our modern economy. From tech moguls to luxury goods tycoons, these individuals have not only amassed staggering fortunes but have also shaped industries and influenced global markets. Their stories of success, innovation, and sometimes controversy provide valuable insights into the world of high finance and entrepreneurship.
Based on data from the Real-Time Billionaires List, let’s explore the net worth and backgrounds of these financial titans, examining how they’ve built and maintained their wealth in an ever-changing economic landscape.
1. Elon Musk – $266.3 billion
According to the Real-Time Billionaires List, Elon Musk, born in 1971 in Pretoria, South Africa, is the world’s wealthiest person with an estimated net worth of $266.3 billion. Musk is a serial entrepreneur and innovator best known for founding SpaceX in 2002 and co-founding Tesla in 2003.
Musk’s wealth primarily stems from his ownership stakes in Tesla and SpaceX. He serves as CEO and chief engineer at SpaceX and as CEO of Tesla. In recent years, Musk has also acquired social media platform Twitter (now X) for $44 billion and founded artificial intelligence company xAI.
Throughout his career, Musk has been involved in various ventures, including PayPal, Neuralink, and The Boring Company. His ambitious goals include colonizing Mars, accelerating the world’s transition to sustainable energy, and developing artificial intelligence.
2. Jeff Bezos – $211.3 billion
Jeff Bezos, born in 1964 in Albuquerque, New Mexico, is the second wealthiest person globally with a net worth of $211.3 billion. Bezos is best known as the founder of Amazon, the world’s largest e-commerce and cloud computing company.
After graduating from Princeton University, Bezos worked on Wall Street before founding Amazon in 1994. Under his leadership, Amazon grew from an online bookstore to a global technology giant. Bezos stepped down as CEO in 2021 but remains executive chairman.
Besides Amazon, Bezos owns The Washington Post and Blue Origin, a space exploration company. He has also made significant investments in various sectors through his venture capital firm, Bezos Expeditions.
3. Larry Ellison – $202.8 billion
Larry Ellison, born in 1944 in New York City, is the third richest person in the world with a net worth of $202.8 billion. Ellison is the co-founder, executive chairman, and CTO of Oracle Corporation, one of the world’s largest software companies.
Ellison co-founded Oracle in 1977, which grew to dominate the database software market under his leadership. He served as CEO until 2014 when he transitioned to the role of executive chairman and CTO.
In addition to his Oracle stake, Ellison owns significant shares in Tesla and has invested heavily in luxury real estate, including the Hawaiian island of Lanai. He is also known for his philanthropic efforts, having signed the Giving Pledge and committed to donating the majority of his wealth to charitable causes.
4. Mark Zuckerberg – $194.9 billion
Mark Zuckerberg, born in 1984, is the co-founder, chairman, and CEO of Meta Platforms (formerly Facebook). His net worth has seen a remarkable increase in 2024, rising by over $55 billion since the start of the year.
Zuckerberg founded Facebook in 2004 while studying at Harvard University. Under his leadership, the company has grown into a global tech giant, encompassing popular platforms like Facebook, Instagram, WhatsApp, and Threads. Meta’s stock has soared by 49% in 2024, significantly boosting Zuckerberg’s wealth.
The majority of Zuckerberg’s fortune is tied to his Meta shares. He owns about 345.5 million shares, with approximately 344 million being Class B shares that grant him 10 votes per share. This ownership structure gives him significant control over the company’s direction.
Despite his immense wealth, Zuckerberg has pledged to give away 99% of his Facebook shares through the Chan Zuckerberg Initiative, focusing on causes such as education and scientific research.
5. Bernard Arnault & family – $175.2 billion
Bernard Arnault, born in 1949 in Roubaix, France, is the chairman and CEO of LVMH Moët Hennessy Louis Vuitton, the world’s largest luxury goods company.
Arnault began his career in his father’s construction company before venturing into the luxury goods sector. In 1984, he acquired the bankrupt textile group that owned Christian Dior, marking his entry into the fashion industry. He became the majority shareholder of LVMH in 1989 and has since transformed it into a global luxury powerhouse.
Under Arnault’s leadership, LVMH has grown to encompass over 70 brands, including Louis Vuitton, Dior, Hennessy, and Sephora. His business acumen has earned him the nickname “the wolf in cashmere” for his aggressive acquisition strategies.
Arnault’s wealth is primarily tied to his stake in LVMH. He has implemented a long-term strategy to ensure family control over LVMH by changing the legal structure of his holding company, Agache, to a joint-stock partnership.
6. Warren Buffett – $143.4 billion
Warren Buffett, born in 1930 in Omaha, Nebraska, is the chairman and CEO of Berkshire Hathaway. Known as the “Oracle of Omaha,” Buffett is widely regarded as one of the most successful investors in history.
Buffett showed an early aptitude for business and investing, buying his first stock at age 11. He studied under Benjamin Graham at Columbia University, which greatly influenced his value investing philosophy. In 1965, he took control of Berkshire Hathaway, transforming it from a struggling textile manufacturer into a diversified investment conglomerate.
Under Buffett’s leadership, Berkshire Hathaway has delivered impressive returns, with a compounded annual gain in market value of 19.8% since 1965. The company owns businesses across various sectors, including insurance (GEICO), railroads (BNSF), and energy, as well as significant stakes in public companies like Apple and Coca-Cola.
Despite his immense wealth, Buffett is known for his frugal lifestyle. He still lives in the same house he bought in Omaha in 1958 for $31,500. Buffett has pledged to give away the majority of his wealth to philanthropic causes, primarily through the Bill & Melinda Gates Foundation.
7. Bill Gates – $138.9 billion
Bill Gates, born in 1955, is the co-founder of Microsoft and one of the most influential figures in the tech industry. His net worth of $138.9 billion makes him the 7th richest person in the world.
Gates co-founded Microsoft with Paul Allen in 1975, which grew to become the world’s largest PC software company. He served as CEO until 2000 and remained chairman until 2014. Since stepping back from day-to-day operations at Microsoft, Gates has focused on philanthropy through the Bill & Melinda Gates Foundation.
Despite giving away billions through his foundation, Gates’ wealth continues to grow, largely due to his diversified investment portfolio managed by Cascade Investment. His investments span various sectors, including technology, real estate, and energy.
8. Larry Page – $135.1 billion
Larry Page, born in 1973, is the co-founder of Google and former CEO of its parent company, Alphabet. His net worth is estimated at $135.1 billion.
Page co-founded Google with Sergey Brin in 1998 while they were Ph.D. students at Stanford University. Under their leadership, Google grew from a search engine into a global tech giant. Page served as Google’s CEO from 2011 to 2015 and as CEO of Alphabet from 2015 to 2019.
Page’s wealth primarily comes from his stake in Alphabet. He has also invested in flying car companies and is funding research into flu vaccine development.
9. Amancio Ortega – $132.2 billion
Amancio Ortega, born in 1936, is a Spanish billionaire businessman and founder of the Inditex fashion group, best known for its chain of Zara clothing and accessories shops. His net worth is estimated at $132.2 billion.
Ortega founded Inditex in 1975, starting with a single store in Spain. Today, Inditex is one of the world’s largest fashion retailers, with over 7,500 stores worldwide. Ortega stepped down as chairman of Inditex in 2011 but still owns about 59% of the company.
In addition to his stake in Inditex, Ortega has invested heavily in real estate through his company Pontegadea. His portfolio includes prime properties in major cities around the world.
10. Sergey Brin – $129.4 billion
Sergey Brin, born in 1973 in Moscow, Russia, is the co-founder of Google and former president of its parent company, Alphabet. His net worth is estimated at $129.4 billion.
Brin co-founded Google with Larry Page in 1998. He served as the president of Alphabet from 2015 to 2019. Although he stepped down from day-to-day operations, Brin remains a controlling shareholder and board member.
In recent years, Brin has been involved in various projects, including the development of airships through his company LTA Research. He has also returned to active involvement in Google’s AI development, particularly the Gemini project.
