Top 10 most Richest People in the World: 2024 Update

1#     Elon Musk
Net worth: $251.3 billion

Source: Tesla, SpaceX, X (Twitter)

Age: 52

Residence: Austin, Texas

Citizenship: U.S.

Elon Musk, the dynamic powerhouse best known for pushing the boundaries of modern technology, currently stands as the CEO of electric car company Tesla, rocket firm SpaceX, and social media giant X, formerly known as Twitter. With a staggering net worth of $251.3 billion, Musk's journey to his current eminence has been remarkable and inspiring.

Born and raised in South Africa, Musk had the spirit of a true entrepreneur right from his early years. He moved to Canada, where he worked numerous jobs before his 18th birthday. Subsequently, he pursued his education at Queen’s University in Ontario and then transferred to the University of Pennsylvania, where he earned a bachelor’s degree in economics.

The real ascent in Musk’s career began in 2000, when he merged an online bank he had co-founded, X.com, with another similar venture co-founded by Peter Thiel to form PayPal. The venture proved to be a significant game-changer as eBay bought PayPal in 2002 for an astounding $1.4 billion.

In the same year, Musk founded SpaceX near Los Angeles. With a vision to revolutionize space technology, SpaceX continues to make significant strides in the field of aerospace engineering and space exploration. In 2004, Musk joined Tesla Motors as an investor and chairman a year after it was founded; he was later accorded the title of co-founder.

Under Musk's leadership, Tesla transformed the world's perception of electric vehicles, gaining an impressive market capitalization. Musk, who became CEO of Tesla in 2008, took the company public in 2010. The all-electric vehicle giant's valuation skyrocketed during 2020 and 2021, significantly impacting Musk's net worth.

In September 2021, Musk achieved a new high by becoming the world's richest person, and in November 2021, his net worth peaked at an unbelievable $320 billion. Although a decline in Tesla’s share price in December 2022 affected Musk's ranking, he managed to reclaim his spot as the world's richest person by June 8, 2023. He retained this title for the rest of the year, with his fortune growing by approximately $6 billion in December due to a 4% rise in Tesla's share prices.

Moreover, an interesting twist in Musk's career trajectory came in October 2022 when he acquired X, then known as Twitter, for a whopping $44 billion. Now owning an estimated 74% of X, which is valued at less than half of what he originally paid for it, this development further diversified Musk's interests and holdings.

Today, this 52-year-old billionaire resides in Austin, Texas, with his influence spanning across different industries. Elon Musk is more than just his net worth: he is an enthusiastic follower of his dreams and an embodiment of innovation and global transformation.

2#    Bernard Arnault
Net worth: $200.7 billion

Source: LVMH/ luxury goods

Age: 74

Residence: Paris

Citizenship: France

Bernard Arnault: The Billionaire Behind Luxury's Biggest Empire; the 74-year-old French business magnate currently residing in Paris, is a name that resonates with luxury, and rightfully so. With a staggering net worth of $200.7 billion, he has positioned himself as a titan in the world of global luxury. Both the CEO and the Chairman of the Paris-based conglomerate LVMH (Louis Vuitton Moët Hennessy), Arnault has built the world's largest and most profitable luxury goods company, with an illustrious portfolio of approximately 70 esteemed fashion and cosmetics brands.

The breadth of his empire spans from fashion behemoths Louis Vuitton and Christian Dior, to celebrated champagne house Moët & Chandon, and global cosmetics retailer Sephora. In January 2021, in a move further consolidating his empire of luxury, LVMH acquired the American jewelry and specialty retailer, Tiffany & Co. for a whopping $15.8 billion.

Arnault's journey to becoming the colossus of luxury began with a humble fortune of $15 million bequeathed to him by his father, a prosperous construction entrepreneur. His first concrete step towards building his empire was the acquisition of French fashion house Christian Dior - an investment that marked the beginning of an illustrious career in luxury goods.

The Arnault name is poised to continue its reign in luxury, with all five of his children occupying positions within parts of the LVMH empire. In 2023, he appointed his daughter Delphine as the head of Dior, the second largest brand in the group, further solidifying his family's influence in the luxury sector.

According to Forbes, Arnault held the crown as the world's richest person for most of the first half of 2023, only falling to the second position on June 8, 2023. Despite the slip, his wealth has shown no signs of dwindling. By January 1, 2024, Forbes estimated that Arnault's worth had increased by $9.4 billion more than what it had been a month ago, following a surge in the price of LVMH shares.

Bernard Arnault has not only succeeded in creating an empire, but he has also elevated luxury retailing to unforeseen heights. His uncompromising standards, business acumen, and unwavering focus on quality have made him an extraordinary figure in the world of luxury goods. As the mastermind behind extravagant and elegant brands, his influence reverberates through the high-end boutiques of Paris, Milan, New York, and all the fashion capitals of the world. His story is a testament to the fact that luxury, in the right hands, can truly turn into a goldmine.

3#    Jeff Bezos
Net worth: $168.4 billion

Source: Amazon

Age: 59

Residence: Medina, Washington

Citizenship: U.S.

Jeff Bezos The Rise and Journey of Amazon's Founder,  the American entrepreneur who founded the e-commerce behemoth Amazon, has an estimated net worth of $168.4 billion making him one of the wealthiest individuals in the world. At the age of 59, Bezos currently resides in Medina, Washington and continues to shape the future of e-commerce and space exploration, even after stepping down from his post as Amazon's CEO in July 2021.

Amazon was born in 1994 out of Bezos's garage in Seattle, after he left his job at a New York hedge fund, D.E. Shaw. Amazon started its journey as an online bookseller, a period when digital commerce was still in its infancy and people seldom bought goods online. Despite starting small, Amazon quickly maximized its potential, expanding its operations into cloud storage, and eventually venturing into the entertainment sphere, with a strong focus on movie and series production to cater to its Amazon Prime Video service.

Over the years, Bezos has engaged in a high-stakes race with Microsoft co-founder Bill Gates for the title of the world’s richest person. The seesaw battle reached a milestone in July 2017 when Bezos surpassed Gates, ushering in a new era of unprecedented wealth. The Amazon founder held the top spot on Forbes’ list of the World's Billionaires from 2018 through 2021. However, as of 2022, he was dethroned and slipped to the second spot. Almost a year later, despite a temporary fall to the fourth spot, Bezos climbed back to the rank of the third-richest person in the world, on January 25, 2023.

Personal upheavals have also marked Bezos's journey. In 2019, he and his wife MacKenzie announced their divorce. The settlement saw MacKenzie receive 4% of Amazon's shares, with Bezos retaining 12%. Since then, Bezos has further sold and gifted parts of his stake and now owns just under 10% of Amazon. Since Amazon's initial public offering (IPO) in 1997, it is estimated that Bezos has sold over $27 billion worth of his Amazon stock.

Bezos's passion for pushing the envelope of innovation goes beyond Amazon. In July 2021, he embarked on a unique venture, traveling to space on a rocket built by Blue Origin, a private rocket company he founded and has funded substantially over the years. He is also active in the venture capital sector through Bezos Expeditions, which has made investments in various organizations, including Airbnb and software firm Workday.

Despite the roller-coaster that has been Bezos's journey, one thing remains the same - his unwavering dedication to innovation. From establishing one of the largest and most successful e-commerce platforms in the world, spearheading ambitious space exploration missions, to making strategic investments in promising industries, Jeff Bezos continues to shape the world as we know it. His story stands as a testament to the power of a game-changing idea, unshakeable determination, and an entrepreneur's will to make it a reality.

4#    Larry Ellison
Net worth: $135.3 billion

Source: Oracle

Age: 79

Residence: Woodside, California

Citizenship: U.S

Larry Ellison, a household name in the world of technology and entrepreneurship, stands as one of the world's wealthiest figures with a net worth of $135.3 billion. As co-founder of the software firm, Oracle, in 1977, Ellison has shaped and influenced the space of technology and digital innovation for more than four decades. Even though he stepped down as the CEO in 2014, Ellison continues to contribute his expertise to Oracle as the Chairman and Chief Technology Officer.

Residing at Woodside, California, Ellison is an active figure in the field of technological advancements within the United States. Oracle's prowess isn't just limited to being a software firm; it has ventured into several lucrative acquisitions in the past few years. The most notable among them is the acquisition of Sun Microsystems in 2010 for a substantial sum of $7.4 billion, cementing Oracle's position in the digital realm.

Beyond his technology endeavors, Larry Ellison's personal acquisitions and movements have caught the public eye too. In 2012, he acquainted himself with the beautiful Hawaiian island of Lanai by buying it for an impressive $300 million. Later in 2020, Ellison decided to move from California to his purchased island, however, he retained his residences in California and Nevada.

Ellison's investment portfolio also includes stakes in Tesla, the leading electric car manufacturing company. He has served on the company's board from 2018 until August 2022. His investment and collaboration with Tesla solidified his interests and directives towards a sustainable and energy-efficient future, reflecting his holistic approach to technology and life at large.

In June 2023, Larry Ellison briefly surpassed Jeff Bezos, becoming the third richest person in the world for a span of eight days due to a surge in Oracle's share prices. After a slight recession in the share prices, Ellison returned to his position as the fourth richest person worldwide. However, his fortune underwent a noticeable decrease by $11.2 billion in December 2023 as Oracle shares fell by 10%.

Despite the fluctuations in his wealth, Ellison's drive for technological innovation and digital revolution remains unsaturated. With his persistent engagements in various sectors of industry and technology, Larry Ellison continues to engrave his name in the annals of wealth and advancement. His tale is one of perseverance, innovation, and grit, and it is no wonder he remains a prominent figure in the evolving landscape of global wealth and power.

5#    Mark Zuckerberg
Net worth: $125.3 billion

Source: Facebook/Meta

Age: 39

Residence: Palo Alto, California

Citizenship: U.S.

The 39-year-old American technology entrepreneur and philanthropist, currently stands as one of the richest people in the world, with an estimated worth of $125.3 billion. His astonishing wealth has mostly been accumulated through the tech company he co-founded while he was still a student at Harvard University back in 2004, originally known as Facebook and now renamed as Meta Platforms.

Today, Meta Platforms has established itself as the world’s largest social media network and boasts a whopping 3.88 billion active users monthly. Beyond the initial Facebook platform, Meta also controls two other popular social networking platforms – Instagram and WhatsApp. Both were acquisitions that have expanded significantly under Zuckerberg's leadership.

Having taken Meta public in 2012, Zuckerberg, as the CEO, still retains ownership of around 13% of the company. This massive financial success, however, has not made Zuckerberg and his wife, Priscilla Chan, lose sight of their philanthropic aspirations.

The couple has publicly committed to allocating 99% of their Meta stock towards initiatives that "promote human potential." One of their most ambitious goals in recent years involves the funding of research tools aimed at enabling mankind to cure, manage, or even prevent all diseases by the end of the 21st century. In their discussions with Forbes, Zuckerberg and Chan shared their vision and efforts concerning these philanthropic initiatives.

Zuckerberg made a reappearance in Forbes' list of the top 10 richest people in the world in the summer of 2023, for the first time since January 2022. This was thanks largely to a significant increase in the price of Meta's stock. In December, his personal fortune saw an increase of an impressive $9.4 billion, in line with a 9% climb in Meta the stock's value.

Despite the many controversies surrounding social media platforms and their impact on society's fabric, there's no denying the significant influence that Zuckerberg and his platforms have over how we communicate today. And while we are left to wonder about the future direction of Meta and social media as a whole, one thing is certain - Mark Zuckerberg's name will continue to feature prominently when discussing the world's wealthiest individuals. The breadth of his influence, his entrepreneurial success, and his ambitious philanthropic vision continues to shape the conversation around social media and its potential to impact all aspects of our lives positively.

6#    Bill Gates
Net worth: $119.6 billion

Source: Microsoft, investments

Age: 68

Residence: Medina, Washington

Citizenship: U.S.

 A Profile of Philanthropy, Innovation, and Immense Wealth. At an estimated net worth of $119.6 billion, Bill Gates, the American business magnate, software developer, and philanthropist, ranks as the sixth richest person globally. Gates' wealth primarily emanates from his co-founding of Microsoft, the software juggernaut, as well as from his multifarious investments.

Gates, now 68 years old, is a resident of Medina, Washington. His fascination with computer programming sparked at a young age, which ultimately led him to drop out of Harvard to turn his vision into a reality. Alongside his high school friend, Paul Allen, Gates laid the foundation for Microsoft in 1975. Their objective was to create software for the nascent personal computer industry. This venture set the precedent for the digital revolution that would redefine the way the world operates.

Gates assumed the role of Microsoft's CEO for a quarter-century, extending his leadership as chairman until 2014. He resigned from the board in 2020, but remarkably, he continues to devote about 10% of his time consulting with teams at Microsoft, as he disclosed to Forbes in early 2023.

Today, Gates' portfolio encompasses investments in a variety of companies. He has stakes in waste removal firm Republic Services, agricultural equipment maker Deere & Co., and noteworthy real estate investments, making him one of the largest owners of farmland in the U.S.

In 1987, Forbes recognized Gates as a billionaire for the first time. He held the title of the richest person globally from 1995 to 2017, only briefly losing this status in 2008 and the period between 2010 to 2013. Despite this extraordinary fortune, Gates is a steadfast proponent of philanthropy. His charitable contributions culminated in the formation of the Gates Foundation – the world's largest private charitable foundation. Gates has donated a mind-boggling $59 billion to the Foundation, including a massive $20 billion gift in July 2022. These significant charitable initiatives eventually led to Jeff Bezos, the founder of Amazon, surpassing him as the wealthiest person in 2018.

In 2021, Gates and his wife, Melinda French Gates, divorced, resulting in Melinda receiving an estimated $10 billion in stock and other assets as part of the divorce settlement.

Despite incremental increases in his fortune, such as the rise by $2 billion in December 2023, Gates' rank amongst the world's wealthiest individuals has remained stable at No. 6 as of January 1, when valued according to prevalent standards.

Bill Gates' narrative is one punctuated by innovation, philanthropy, and immense wealth. His life and career continue to inspire countless individuals worldwide, emphasizing that wealth can be used as a powerful tool to catalyze positive change globally. At 68, Gates remains a relevant figure in the technologizing world, contributing not only to his billion-dollar enterprises but also to the welfare of humanity.

7#    Warren Buffett
Net worth: $118.6 billion

Source: Berkshire Hathaway

Age: 93

Residence: Omaha, Nebraska

Citizenship: U.S

Warren Buffett, with a staggering net worth of $118.6 billion, stands as one of the most successful investors of all time. He has an innate knack for understanding the markets and constantly leverages his extensive experience to make strategic investment decisions.

Currently age 93, Buffett resides in Omaha, Nebraska, and his primary source of wealth comes from Berkshire Hathaway, the conglomerate he manages. Berkshire Hathaway boasts ownership of dozens of flourishing companies, including insurance titan Geico, battery manufacturer Duracell, and popular restaurant chain Dairy Queen.

Buffett's journey into the world of finance started at a remarkably young age. The son of a U.S. congressman, he showed an early passion for investing when he bought his first stock at the tender age of 11. By the time he turned 13, he had already filed his first tax return, a testament to his early financial acuity.

Beyond his undeniable success in the financial realm, Buffett stands out for his philanthropic undertaking. In partnership with the renowned philanthropists Microsoft founder Bill Gates and Melinda French Gates, he created the Giving Pledge in 2010. This initiative appeals to billionaires, encouraging them to commit to give away at least half of their fortune to charitable causes.

True to his word, Buffett has pledged to donate an impressive 99% of his considerable fortune to philanthropy. To date, he has already donated at least $51.5 billion in Berkshire Hathaway stock to the Gates Foundation and his children’s foundations. In fact, he donated $4.6 billion worth of his Berkshire Hathaway shares in mid-June alone. This generosity towards charity and the welfare of others has rightfully earned him the title of being the most generous billionaire in the world.

However, despite his remarkable wealth, Buffett did face a slightly downward shift in his fortune in December 2023. His wealth fell by around $700 million due to a marginal drop in the price of Berkshire Hathaway shares. Yet, given his demonstrated skill and expertise in investing, coupled with his unwavering resilience, there's no doubting he'll continue to rank as one of the wealthiest and most respected figures in the world of finance.

8#    Larry Page Net worth
Net worth: $117.2 billion

Source: Google

Age: 50

Residence: Palo Alto, California

Citizenship: U.S

The Extraordinary Journey of A Tech Mogul" Larry Page, an unwavering pioneer of innovation and a titan of technology, weighs in with a staggering net worth of $117.2 billion. This colossal wealth may astound many but is a testament to a story of resolute determination, intelligent innovation, and an enduring dream to redefine the digital landscape.

Born on March 26, 1973, Page is currently 50 years old and domiciled in Palo Alto, California. He has made a mark on the world that few can contend with and continues to shape the future of technology, encapsulating the spirit of American inventiveness and entrepreneurial prowess.

Page, an alumnus of Stanford University where he attained his Ph.D., teamed with Sergey Brin in 1998 to co-found Google, the unrivaled search engine which sits at the core of modern internet usage. He navigated Google as CEO from its inception in 1998 till 2001 and once again reclaimed the same position from 2011 to 2015. His tenure at Google's helm led to the innovation of various paradigms in the digital ecosystem, adding new dimensions to how search engines operate.

Currently, Page holds a prestigious seat on the board of Alphabet Inc., the parent corporation of Google, and is a controlling shareholder in the multinational conglomerate. A glimpse at Alphabet's impressive portfolio reveals a catalog of diverse ventures spanning from life sciences and technology to investment in startups- a clear reflection of Page's multifaceted entrepreneurial spirit.

One of Page's notably distinct and pioneering investments is in the sphere of asteroid mining. He was a founding investor in Planetary Resources, an asteroid mining venture, that later found its home with blockchain firm ConsenSys in 2018. This investment portrays his forward-thinking mindset and an inherent hunger for exploration beyond conventional boundaries.

Page's journey took a significant leap in May 2023 when he joined the top echelon of the world's wealthiest men, following a dramatic 15% spike in the share price of Alphabet. The growth didn't stop there; in just one month, between December 1, 2023, and January 1, 2024, Page's fortune ballooned by an astonishing $5.5 billion following a near 6% surge in Alphabet shares.

Larry Page's story is a remarkable testament to the power of innovation and the vast potential that lies within the realms of technology. His journey serves as an inspiration to potential entrepreneurs and inventors, underscoring the value of tenacity, vision, strategic intelligence, and relentless pursuit of ideas in driving the evolution of technology and shaping our digital future.

9#    Sergey Brin
Net worth: $112.4 billion

Source: Google

Age: 50

Residence: Los Altos, California

Citizenship: U.S.

Sergey Brin, co-founder of Google and currently one of the most affluent individuals globally, boasts a net worth of approximately $112.4 billion. As of this writing, the 50-year-old resident of Los Altos, California, stands as a dominant figure in the world of technology, having staked a claim among the pioneers of internet search engine services. Despite stepping down as the president of Alphabet, Google's parent company, in December 2019, Brin maintains formidable influence as a controlling shareholder and board member.

Brin's humble beginnings began in Russia, where he was born and raised until he was 6. His family, who sought to escape anti-Semitism prevalent in the country, immigrated to the U.S. Today, Sergey Brin stands unrivaled as the wealthiest immigrant in America, embodying a classic tale of American success.

Brin's journey towards achieving monumental wealth and influence started at Stanford University, where he met Larry Page while pursuing advanced degrees in computer science. Their shared interests and ambitions led to the establishment of Google in 1998, revolutionizing information accessibility worldwide. Today, Google remains a cornerstone of daily digital activity, with its search engine service used by billions worldwide.

Despite his commanding business presence, Brin's personal life has not been without challenges. Over a decade ago, he disclosed that he is at a higher risk of developing Parkinson's disease than the general population, a genetic risk inherited from his mother. In response, Brin has used his wealth to advance research into the neurodegenerative disease, contributing more than $1.1 billion towards its study, particularly in basic science.

Brin's extraordinary wealth saw an estimated surge of $5.1 billion during December 2023, propelled by an almost 6% spike in the stock price of Alphabet. This affirms the ever-present influence of Google and Alphabet in the global digital economy and Brin’s significant role in these pioneering companies.

Guided by his experiences and equipped with his immense resources, Sergey Brin's story manifests the pursuit of revolutionary ideas, the resilience in overcoming personal and societal hurdles, and the commitment to leveraging personal success for broader societal progress. His narrative continually inspires many in the global tech community and beyond, underlining the power of passion, ingenuity, and philanthropy in shaping the world.

10#  Steve Ballmer:
Net worth: $112.2 billion

Source: Microsoft, investments

Age: 67

Residence: Hunts Point, Washington

Citizenship: U.S

Steve Ballmer, a From Microsoft Employee to Billionaire Investor Rising from the ranks, Steve Ballmer, who was Microsoft's 30th employee, now enjoys a prolific net worth of $112.2 billion, making him one of the most influential figures in American technology and sports industries. At 67 years old, Ballmer resides in Hunts Point, Washington, and holds U.S. citizenship.

Ballmer's journey with Microsoft started in 1980 when he dropped out of the highly-respected MBA program at Stanford University to join his Harvard University classmate, Bill Gates. This strategic decision culminated in Ballmer leading Microsoft as its CEO from 2000 till 2014. During his tenure, he competently guided the company through a variety of technological shifts, thus further enhancing its position as a global tech titan.

Upon his retirement from Microsoft in 2014, Ballmer sought new ventures and became the owner of the Los Angeles Clippers team by putting down a record-breaking $2 billion investment, which illustrated his passion not only for business but also for sports. This value has since more than doubled, with Forbes current estimation sitting at $4.65 billion, a testament to Ballmer's unique vision and shrewd investment strategies. Add to this his credible reputation and exceptional leadership skills, and one can clearly see why he was successful in such an endeavor.

Despite these remarkable achievements, it's not always smooth sailing for Ballmer nor for any billionaire investor for that matter. Recent reports reveal that Ballmer's fortune fell by an estimated $600 million in the past month, due to a minor drop—less than 1%—in the price of Microsoft shares. This fluctuation manifests the often unpredictable nature of the stock market and the interconnectedness of a billionaire's fortune with their investments and the financial environment.

Yet even with this recent financial setback, Ballmer's overall wealth and influence remain undeniably extensive. As his track record implies, his astute investing and unshakeable dedication to his endeavors, manifested by the successful expansion of Microsoft under his leadership and the impressive growth of the Los Angeles Clippers, will undoubtedly be conspicuous elements in his future endeavors.

In conclusion, Steve Ballmer's complicated yet fruitful journey from a Stanford dropout to a Harvard graduate, and from a Microsoft employee to its CEO, and eventually becoming one of the wealthiest individuals in the world, epitomizes the essence of the American Dream, where hard work, strategic decisions and an endless pursuit of passion could inevitably lead to astounding success. Ballmer's journey is a clear testament that extraordinary success is indeed within reach once the effort, dedication, and resilience are in place.