In 2024, there are 2,640 billionaires worldwide, playing significant roles in global economics, politics, and philanthropy. Elon Musk, CEO of Tesla and SpaceX, as well as the owner of X (formerly Twitter), holds the top position with a net worth of $222 billion. Notably, many billionaires, particularly in the technology sector, still have substantial wealth tied to their companies. They can leverage their assets to avoid selling stock, deferring taxes on unrealized capital gains. Some employ various tax deductions to offset reported income, resulting in some paying no income tax in recent years. The wealth of these individuals, predominantly invested in publicly traded stocks, fluctuates alongside market valuations. The top 10 billionaires, as per the Bloomberg Billionaires Index, include Elon Musk, Jeff Bezos, Bernard Arnault of LVMH, Bill Gates of Microsoft, and Larry Ellison of Oracle. Notably, eight out of the top 10 billionaires amassed their fortunes in technology, with Bernard Arnault and Warren Buffett being exceptions.
Top 10 Richest Person in the world 2024 :
- Elon Musk
- Jeff Bezos
- Bernard Arnault
- Bill Gates
- Larry Ellison
- Steve Ballmer
- Warren Buffett
- Larry Page
- Mark Zuckerberg
- Sergey Brin
1. Elon Musk :
- Age: 52
- Residence: United States
- Occupation: Co-founder and CEO of Tesla
- Net Worth: $222 billion
- Tesla Ownership Stake: 13% ($98.1 billion)
- X Ownership Stake: 79% ($9.32 billion)
- Other Assets: Space Exploration Technologies: $53.2 billion (private asset), The Boring Company: $3.33 billion (private asset)
Elon Musk, the South African-born entrepreneur, is the CEO of Tesla and SpaceX. He initially gained prominence with Zip2, an online navigation service, and later co-founded X.com, which evolved into PayPal. Musk became a major Tesla investor in 2004, eventually becoming its CEO. Besides electric vehicles, Tesla expanded into energy storage and solar power after acquiring SolarCity in 2016.
In December 2020, Tesla joined the S&P 500, solidifying its status as a major player. Musk, known for his fluctuating wealth tied to Tesla’s value, briefly became the world’s richest person in January 2021. In April 2022, Musk announced a plan to take Tesla private in a $44 billion buyout, later selling Tesla shares to fund it. However, he reversed course in July 2022, prompting legal disputes. Eventually, the deal closed in October 2022, giving Musk a 79% stake in Tesla.
2. Jeff Bezos :
- Age: 59
- Residence: United States
- Founder and Executive Chair: Amazon (AMZN)
- Net Worth: $171 billion
- Amazon Ownership Stake: 10% ($145 billion)
- Other Assets:
- Blue Origin: $11.2 billion (private asset)
- The Washington Post: $250 million (private asset)
- Koru: $500 million (private asset)
- Cash: $14 billion
In 1994, Jeff Bezos founded Amazon.com in Seattle after leaving D.E. Shaw. Initially an online bookstore, Amazon evolved into a global retail giant, diversifying into unexpected areas like acquiring Whole Foods and entering the pharmacy business. Bezos, who once owned 16% of Amazon, transferred 4% to his ex-wife MacKenzie Scott in 2019. Amazon’s stock surged by 76% in 2020 due to increased demand during the COVID-19 pandemic.
Bezos, who took Amazon public in 1997, achieved a net worth exceeding $100 billion in 1999. He stepped down as Amazon’s CEO on July 5, 2021, but remained its executive chair. Bezos is involved in various projects, including Blue Origin, The Washington Post (acquired in 2013), and the 10,000-year clock.
On July 20, 2021, Bezos, along with his brother and others, completed Blue Origin’s first crewed flight. Bezos’ wealth peaked at $213 billion in July 2021. In 2024, he purchased the superyacht Koru for $500 million.
3. Bernard Arnault :
- Age: 74
- Residence: France
- CEO and Chair: LVMH (LVMUY)
- Net Worth: $169 billion
- Christian Dior Ownership Stake: 97.5% ($130 billion total)
- Other Assets:
- Moelis & Company equity: $26.1 billion (public asset)
- Cash: $13.1 billion
Bernard Arnault, the French national, serves as the Chair and CEO of LVMH, the world’s largest luxury goods company. His significant wealth is derived from a substantial stake in Christian Dior SE, the holding company controlling 41.4% of LVMH. Arnault’s shares in Christian Dior SE, along with an additional 6.2% in LVMH, are held through his family-owned company, Groupe Familial Arnault.
Initially an engineer, Arnault showcased his business acumen at his father’s construction firm, Ferret-Savinel, which he later transformed into a real estate company called Férinel Inc. In 1984, he acquired and reorganized luxury goods maker Financière Agache, subsequently becoming the majority shareholder, chair of the board, and CEO of LVMH in 1989 after being invited to invest in the company in 1987. LVMH’s prestigious brands include Louis Vuitton, Hennessey, Marc Jacobs, and Sephora.
4. Bill Gates :
- Age: 68
- Residence: United States
- Co-founder: Microsoft (MSFT)
- Net Worth: $134 billion
- Microsoft Ownership Stake: 1.4% ($24.1 billion)
- Other Assets:
- $64.1 billion in cash
- Billions invested in multiple other companies
In 1975, while at Harvard University, Bill Gates collaborated with childhood friend Paul Allen to develop software for microcomputers. Their success led to the founding of Microsoft after Gates dropped out of Harvard during his junior year. Microsoft, the world’s largest software company, expanded into personal computers, email services, video game systems, and cloud services.
Gates transitioned from Microsoft’s CEO to board chair in 2008 and joined Berkshire Hathaway’s board in 2004. He resigned from both boards on March 13, 2020. Gates has a significant portion of his net worth invested in Cascade Investment LLC, a private investment vehicle holding various stocks, including Canadian National Railway, Deere, and Republic Services, along with private investments in real estate and energy.
5. Larry Ellison :
- Age: 79
- Residence: United States
- Position at Oracle (ORCL):Co-founder, Chair, Chief Technology Officer (CTO)
- Net Worth: $129 billion
- Oracle Ownership Stake: 42%+ ($96.1 billion)
- Other Assets:
- Tesla equity: $10.7 billion (public asset)
- Cash: $21.8 billion
Larry Ellison, born in NYC to a single mother, dropped out of the University of Chicago in 1966. He moved to California, worked as a programmer, and joined Ampex in 1973, where he met future partners Ed Oates and Bob Miner. In 1977, they founded Software Development Laboratories, later renamed Oracle Systems Corporation. In 1982, Oracle released the first commercial relational database program, Oracle. Ellison served as Oracle’s CEO for 37 years, stepping down in 2014. He joined Tesla’s board in Dec. 2018, resigning in June 2022. Oracle, the world’s second-largest software company, offers cloud computing programs, Java, Linux code, and the Oracle Exadata platform. Ellison’s philanthropy focuses on medical research, donating $200 million to USC for a cancer research center in 2016. He supported the Oracle Team USA sailing team, winning the America’s Cup in 2010 and 2013.
6. Steve Ballmer :
- Age: 67
- Residence: United States
- Owner: Los Angeles Clippers
- Net Worth: $129 billion
- Microsoft Ownership Stake: 4% ($119 billion total)
- Other Assets:
- Los Angeles Clippers: $3.73 billion (private asset)
- The Forum: $400 million (private asset)
- Intuit Dome: $2 billion (private asset)
- Cash: $3.48 billion
Steve Ballmer joined Microsoft in 1980 as its 30th employee, after dropping out of Stanford’s MBA program at Bill Gates’ encouragement. He became CEO in 2000, succeeding Gates and overseeing significant milestones like Microsoft’s purchase of Skype for $8.5 billion in 2011. Holding about 4% of Microsoft, he’s the largest individual shareholder. After stepping down in 2014, Ballmer bought the LA Clippers for $2 billion. Despite initially close ties from sharing a dorm with Gates at Harvard, their relationship strained when Ballmer advocated for Microsoft’s ventures into hardware, like the Surface tablet and Windows mobile phones, during his CEO tenure.
7. Warren Buffett :
- Age: 93
- Residence: United States
- CEO: Berkshire Hathaway (BRK.A)
- Net Worth: $119 billion
- Berkshire Hathaway Ownership Stake: 15% ($118 billion)
- Other Assets: $1.28 billion in cash
Warren Buffett, the renowned value investor and CEO of Berkshire Hathaway, began his investment journey by filing his first tax return at age 14 in 1944, declaring earnings from a paper route. He purchased shares in Berkshire Hathaway in 1962 and became the majority shareholder by 1965. Over the years, Buffett transformed the company into a diversified conglomerate, expanding its holdings to insurance, energy distribution, railroads, and consumer products.
Known as the Oracle of Omaha, Buffett is a buy-and-hold investor who gained wealth by acquiring undervalued companies. Despite his success, he remains a skeptic of Bitcoin. Buffett has dedicated a significant portion of his wealth to philanthropy, giving away $41 billion between 2006 and 2020, primarily to the Bill & Melinda Gates Foundation and his children’s charities. In 2010, he launched the Giving Pledge with Bill Gates, encouraging billionaires to commit to giving away the majority of their wealth.
At 93 years old, Buffett still serves as CEO, but in 2021, he indicated that Gregory Abel, head of Berkshire’s non-insurance operations, is likely to be his successor.
8. Larry Page :
- Age: 50
- Residence: United States
- Co-founder and Board Member: Alphabet (GOOG)
- Net Worth: $119 billion
- Alphabet Ownership Stake: 6% ($102.7 billion total)
- Other Assets: $16.3 billion in cash
Larry Page co-founded Google with Sergey Brin in 1998, initially developing the search engine technology known as Backrub while at Stanford University. Page served as Google’s CEO from 1998 to 2001 and again from 2011 to 2019. Under his leadership, Google became the dominant global search engine, with over 92% market share. In 2006, Google acquired YouTube, the leading video platform, and in 2008, they released the Android mobile operating system after acquiring Android in 2005.
In 2015, Google underwent a corporate reorganization, becoming a subsidiary of Alphabet, a holding company. Page has diversified his investments, including early support for Planetary Resources, a space exploration and asteroid-mining company (acquired by ConsenSys in 2018). He also invested in flying car companies such as Kitty Hawk and Opener, although Kitty Hawk ceased operations in 2022.
9. Mark Zuckerberg :
- Age: 39
- Residence: United States
- CEO and Chair: Meta Platforms (META)
- Net Worth: $115 billion
- Meta Platforms Ownership Stake: 13% ($111 billion total)
- Other Assets: $4.03 billion in cash
Mark Zuckerberg co-founded Facebook (now Meta) with fellow Harvard students in 2004, expanding it from a university project to the world’s largest social networking service. He dropped out of Harvard to focus on the business, and as of Q2 2024, Meta boasts 3 billion monthly users. The platform’s main revenue source is advertising.
Meta encompasses various brands, including Instagram (acquired in 2012), WhatsApp, and Oculus (both acquired in 2014). It also offers Workplace, an enterprise-connectivity platform, and Portal, a line of video-calling devices.
Zuckerberg and his wife, Priscilla Chan, founded the Chan Zuckerberg Initiative in 2015, serving as co-CEOs. The initiative aims to use technology to address societal issues, such as improving education, reforming criminal justice and immigration systems, enhancing housing affordability, and working towards eradicating diseases.
10. Sergey Brin :
- Age: 50
- Residence: United States
- Co-founder and Board Member: Alphabet (GOOG)
- Net Worth: $113 billion
- Alphabet Ownership Stake: 6% ($96.5 billion total)
- Other Assets: $16.4 billion in cash
Sergey Brin, born in Moscow, Russia, moved to the U.S. in 1979 at the age of six. He co-founded Google with Larry Page in 1998. Brin served as Google’s president of technology until 2001 when Eric Schmidt became CEO. He later held the same position at Alphabet from 2015 until stepping down in 2019 for Sundar Pichai.
Google, renowned for its search engine, offers Google Workspace, a suite of online tools. This includes Gmail, Google Drive, Calendar, Meet, Chat, Docs, Sheets, Slides, and more. The company also manufactures Pixel smartphones, computers, tablets, Nest smart home devices, and the Stadia gaming platform.
Brin is notable for substantial donations to Parkinson’s disease research, collaborating with The Michael J. Fox Foundation.
