As a trader who’s been navigating the volatile waters of the stock market for years, I’ve always kept a keen eye on the world’s wealthiest individuals. Their financial moves, business strategies, and market influence often ripple through the global economy, creating waves that we smaller fish must learn to ride or avoid. That’s why I find it fascinating to examine the list of the top 10 richest people in the world each year.
2024’s lineup is particularly intriguing. We’re seeing a mix of familiar faces and some notable shifts in rankings. The tech sector continues to dominate, but we’re also witnessing the resilience of traditional industries and the rise of new players. As someone who’s constantly analyzing market trends, I can’t help but see these billionaires as more than just names on a list – they’re living, breathing indicators of where the big money is flowing and where future opportunities might lie.
Based on data from the Real-Time Billionaires List, I’ll break down the top 10 richest people in the world for 2024. We’ll look at their net worth, but more importantly, we’ll explore the sources of their wealth and the business decisions that have propelled them to the top. Whether you’re a fellow trader, an aspiring entrepreneur, or just curious about the world of high finance, I hope you’ll find these insights as valuable as I do.
1. Elon Musk – $264.7 billion
Elon Musk, the enigmatic entrepreneur and visionary, continues to hold the title of the world’s richest person in 2024 with a staggering net worth of $264.7 billion. Born in Pretoria, South Africa, in 1971, Musk displayed an early aptitude for technology and business, creating and selling a video game at the age of 12. His journey to becoming the wealthiest individual on the planet has been marked by a series of groundbreaking ventures and innovations.
Musk’s fortune is primarily derived from his stakes in Tesla and SpaceX. As the CEO and largest shareholder of Tesla, he has revolutionized the electric vehicle industry and pushed for sustainable energy solutions. SpaceX, his private space exploration company, has made significant strides in reducing space launch costs and aims to make interplanetary travel a reality. Beyond these flagship companies, Musk’s portfolio includes ventures like Neuralink, which is developing brain-computer interfaces, and The Boring Company, focused on infrastructure and tunnel construction.
Despite facing controversies and market fluctuations, Musk’s wealth has shown remarkable resilience. His acquisition of Twitter (now X) in 2022 for $44 billion, while initially causing a dip in his net worth, has since contributed to his financial empire. Musk’s ability to disrupt traditional industries and his ambitious vision for the future continue to drive both his companies’ valuations and his personal wealth.
2. Jeff Bezos – $216.5 billion
According to the Real-Time Billionaires List, Jeff Bezos, the founder of Amazon, holds the second position on the list of the world’s wealthiest individuals with a net worth of $216.5 billion. Born in Albuquerque, New Mexico, in 1964, Bezos founded Amazon in 1994 as an online bookstore, which has since grown into one of the world’s largest e-commerce and cloud computing companies.
Bezos’ wealth primarily stems from his stake in Amazon, but he has diversified his investments over the years. He owns The Washington Post and founded Blue Origin, a space exploration company. Bezos stepped down as CEO of Amazon in 2021 but remains executive chairman, continuing to play a significant role in the company’s strategic decisions.
3. Larry Ellison – $209.1 billion
Larry Ellison, co-founder, executive chairman, and CTO of Oracle Corporation, ranks third on the list with a net worth of $209.1 billion. Born in New York City in 1944, Ellison’s journey to becoming one of the world’s wealthiest individuals is a testament to his technological innovation and business acumen.
Ellison co-founded Oracle in 1977, building it into one of the largest software companies in the world. His wealth is largely tied to his significant stake in Oracle, which has seen impressive growth, particularly in cloud computing and database management systems. Beyond Oracle, Ellison has made substantial investments in other tech companies and real estate, including purchasing 98% of the Hawaiian island of Lanai.
Ellison’s recent surge in wealth can be attributed to Oracle’s strong performance in the artificial intelligence market, with the company’s stock price seeing significant increases. His strategic focus on AI and data center expansion has resonated well with investors, further solidifying his position among the world’s wealthiest individuals.
4. Mark Zuckerberg – $198 billion
Mark Zuckerberg, the co-founder and CEO of Meta Platforms (formerly Facebook), has solidified his position as one of the world’s wealthiest individuals with a net worth of $198 billion. Born on May 14, 1984, in White Plains, New York, Zuckerberg’s journey to tech stardom began in his Harvard dorm room where he created Facebook in 2004. His vision of connecting people globally through social media has transformed the way we communicate and share information.
Under Zuckerberg’s leadership, Meta has expanded far beyond its initial social networking roots. The company now encompasses a suite of popular platforms including Instagram, WhatsApp, and Oculus VR. Zuckerberg’s wealth is primarily tied to his significant stake in Meta, which has seen substantial growth despite facing various challenges, including privacy concerns and regulatory scrutiny.
Zuckerberg’s impact extends beyond the tech world. He and his wife, Priscilla Chan, established the Chan Zuckerberg Initiative in 2015, pledging to give away 99% of their Meta shares over their lifetime. This philanthropic endeavor focuses on advancing human potential and promoting equality in areas such as health, education, and scientific research. Despite controversies surrounding Meta’s practices, Zuckerberg’s influence on the digital landscape and his commitment to using technology for social good continue to shape his legacy as one of the most prominent figures in the tech industry.
5. Bernard Arnault & family – $168 billion
Bernard Arnault, the French business magnate and art collector, stands as a titan in the luxury goods industry with a net worth of $168 billion. As the chairman and CEO of LVMH Moët Hennessy Louis Vuitton, Arnault has built an empire encompassing over 75 prestigious brands across various sectors including fashion, cosmetics, and fine wines.
Born on March 5, 1949, in Roubaix, France, Arnault’s journey to becoming a luxury goods mogul began when he took over his father’s construction firm in 1971. His strategic acumen came to the fore in 1984 when he acquired the textile company Boussac, which owned Christian Dior. This move marked the beginning of his foray into the luxury market.
Under Arnault’s leadership, LVMH has grown into the largest luxury goods company globally, with a market capitalization of over $400 billion as of 2024. His business strategy, characterized by aggressive acquisitions and a focus on brand heritage, has earned him nicknames such as “The Wolf in Cashmere” and “The Pope of Fashion.” Despite market fluctuations, Arnault’s wealth has shown remarkable resilience, reflecting the enduring appeal of luxury brands in the global economy.
6. Larry Page – $141 billion
Larry Page, co-founder of Google and former CEO of its parent company Alphabet, holds a net worth of $141 billion. Born on March 26, 1973, in East Lansing, Michigan, Page’s journey in technology began early, influenced by his computer science professor father.
Page’s most significant contribution to the tech world came in 1998 when he co-founded Google with Sergey Brin while pursuing his Ph.D. at Stanford University. Their revolutionary PageRank algorithm transformed internet search and laid the foundation for one of the most influential companies in history. Under Page’s leadership, first as Google’s CEO and later as CEO of Alphabet, the company expanded far beyond search, venturing into areas such as mobile operating systems, cloud computing, and artificial intelligence.
In 2019, Page stepped down from his role at Alphabet but remains a board member and controlling shareholder. Since then, he has maintained a low public profile, focusing on personal investments and philanthropic efforts. Page’s wealth is primarily tied to his Alphabet shares, but he has also invested in ventures related to flying cars and renewable energy, reflecting his interest in futuristic technologies.
Page’s legacy extends beyond his wealth. His innovative approach to problem-solving and his vision of using technology to tackle global challenges continue to inspire entrepreneurs and technologists worldwide. Despite stepping back from day-to-day operations, Page’s influence on the tech industry and his contributions to shaping the digital age remain profound.
7. Warren Buffett – $139.8 billion
Warren Buffett, often referred to as the “Oracle of Omaha,” continues to be one of the world’s wealthiest individuals with a net worth of $139.8 billion. Born on August 30, 1930, in Omaha, Nebraska, Buffett’s journey to becoming a legendary investor and business tycoon is a testament to his financial acumen and long-term investment strategy.
Buffett’s path to wealth began early in life, buying his first stock at age 11 and filing his first tax return at 14. He honed his investment skills under the tutelage of Benjamin Graham at Columbia University, adopting a value investing approach that would become his hallmark. In 1965, Buffett took control of Berkshire Hathaway, transforming it from a failing textile manufacturer into a diversified conglomerate and investment vehicle.
Under Buffett’s leadership, Berkshire Hathaway has consistently outperformed the market, with investments spanning various sectors including insurance, energy, railroads, and consumer goods. His investment philosophy, characterized by seeking undervalued companies with strong fundamentals and holding them for the long term, has inspired generations of investors.
Beyond his business success, Buffett is renowned for his philanthropy. In 2006, he pledged to give away 99% of his wealth to philanthropic causes, primarily through the Bill & Melinda Gates Foundation. His frugal lifestyle, despite his immense wealth, and his advocacy for higher taxes on the ultra-wealthy have made him a unique figure among billionaires. Even at 93, Buffett continues to lead Berkshire Hathaway and remains an influential voice in the global financial community.
8. Sergey Brin – $135 billion
Sergey Brin, co-founder of Google and former president of its parent company Alphabet, holds a net worth of $135 billion. Born on August 21, 1973, in Moscow, Russia, Brin immigrated to the United States with his family at the age of six, escaping anti-Semitism in the Soviet Union.
Brin’s journey to tech stardom began at Stanford University, where he met Larry Page while pursuing his Ph.D. in computer science. Together, they developed the PageRank algorithm, which became the foundation for Google’s search engine. Since co-founding Google in 1998, Brin has played a crucial role in the company’s growth and expansion into various technological domains.
While stepping down from his role as president of Alphabet in 2019, Brin remains a controlling shareholder and board member. His wealth primarily stems from his stake in Alphabet, but he has also invested in other ventures, including space exploration and artificial intelligence research. Known for his interest in cutting-edge technologies, Brin has been involved in projects like Google Glass and has funded research into Parkinson’s disease, a condition that runs in his family.
9. Amancio Ortega – $128.5 billion
Amancio Ortega, the Spanish fashion tycoon and founder of Inditex, the parent company of Zara, has amassed a fortune of $128.5 billion. Born on March 28, 1936, in Busdongo de Arbás, Spain, Ortega’s rise from humble beginnings to becoming one of the world’s wealthiest individuals is a remarkable story of entrepreneurship and innovation in the fashion retail industry.
Ortega co-founded Inditex in 1975, starting with a small shop in A Coruña, Spain. His business model, focused on fast fashion and rapid inventory turnover, revolutionized the clothing retail industry. Zara, Inditex’s flagship brand, became known for quickly translating catwalk designs into affordable, mass-market fashion. Under Ortega’s leadership, Inditex expanded globally and now encompasses several brands including Pull&Bear, Massimo Dutti, and Bershka.
Despite stepping down as chairman of Inditex in 2011, Ortega remains the company’s largest shareholder. He has diversified his wealth through real estate investments in major cities worldwide. Known for his reclusive nature and modest lifestyle, Ortega rarely gives interviews and maintains a low public profile.
10. Steve Ballmer – $122.1 billion
Steve Ballmer, former CEO of Microsoft and owner of the Los Angeles Clippers NBA team, rounds out the top 10 with a net worth of $122.1 billion. Born on March 24, 1956, in Detroit, Michigan, Ballmer’s journey to becoming one of the world’s wealthiest individuals is closely tied to the rise of personal computing and his long tenure at Microsoft.
Ballmer joined Microsoft in 1980 as the company’s 30th employee and first business manager, after being recruited by his Harvard classmate Bill Gates. He played a crucial role in Microsoft’s growth, serving in various executive positions before becoming CEO in 2000. During his 14-year tenure as CEO, Microsoft’s annual revenue surged from $23 billion to $77 billion, though the company faced challenges in mobile and internet technologies.
Since retiring from Microsoft in 2014, Ballmer has focused on philanthropic efforts through the Ballmer Group, which he founded with his wife Connie. He also made headlines in 2014 when he purchased the Los Angeles Clippers for $2 billion, the highest price ever paid for an NBA team at the time. Known for his energetic and boisterous personality, Ballmer has become a popular figure among sports fans and continues to be an influential voice in the tech and business world.