Before the year ended, it's worth noting that the global economy shifted in a way that pushed startup companies, even celebrities, and obviously, existing billionaires to heights the world has never seen before.
In 2024, the list comprising the world's wealthiest individuals ballooned, with new additions to the Billionaires club, like Taylor Swift, thanks to their record-breaking Eras tour. But unlike pop stars who shaped pop culture, these top 5 richest people in the world took on influential roles in technology, consumer markets, and more.
Elon Musk — $452 Billion
Every month in 2024, Musk reached his status on and off as the world's richest person. Wth a net worth of $452 billion, per Bloomberg, his fortune already decreased by $16.1 billion this year. Regardless, the Tesla CEO's wealth increased by a whopping $223 billion compared top 2023. Much of this growth was fueled by the continued success of Tesla, SpaceX, and his ambitious foray into AI-driven technologies. It was also the leadership on commercial space exploration by SpaceX and the global satellite internet service by Starlink, which made Musk's leadership in finances.
Jeff Bezos — $243 Billion
Amazon founder Jeff Bezos came in second after his net worth reached the amount of $243 billion. Though his fortune dwindled by $2.97 billion this year, Bezos still increased it by $66.1 billion from 2023. While Amazon became the most dominant player in the market, Bezos also strategically invested in renewable energy ventures and space exploration with Blue Origin, which made his influence and wealth endure long after his retirement.
Mark Zuckerberg — $212 Billion
Zuckerberg saw his net worth to a staggering $212 billion in 2024, making him just a few billions shy from Bezos. Thanks to an addition of $84.2 billion more than 2023. This surge mainly came because of Meta's innovative breakthroughs in the world of metaverse and virtual reality, which was a trend that died quickly. Meta's spread across VR and AR technology brought digital communication and social interactions into a new platform. Zuckerberg also made immense investments in AI technology as well as data-driven ads that make Meta a lot more profitable.
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Larry Ellison — $190 Billion
Larry Ellison, the Oracle co-founder, had accumulated $190 billion in fortune from last year, increasing it by $67.3 billion. Cloud computing and enterprise software, which Oracle dominated significantly, contributed much to the wealth of Larry Ellison. This is because the firm offered AI-driven data solutions to big corporations and made sure there was continued growth. Ellison's strategic importance on cybersecurity and healthcare technology diversified Oracle's offerings while making it an indispensable player in the tech industry.
Bernard Arnault — $178 Billion
LVMH's chairman, also known as Bernard Arnault, landed last among the top five with $178 billion. Compared to others in the list, Business Standard reported that Arnault's wealth only increased by $1.3 billion in 2024, declining by $29.8 billion from last year. Luxury brands under LVMH's portfolio continued to be a force in the consumer market, targeting high-net-worth individuals across the globe, like Kim Kardashian.
However, looking ahead, these richest people in 2024 could have their spot rearranged in 2025, especially since Musk will lead alongside US President-elect Donald Trump. What's certain is that the world will likely still see at least the top three still in their positions next year.
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