The 2024 list of Billionaires is quite intriguing as there have been several changes to the ranks after another year of decreased wealth accumulation. As of February 1, the 10 richest people on the planet are worth a combined $1.44 trillion—nearly $30 billion less than a month earlier. And Elon Musk is no longer the world’s richest person.
Elon Musk who had been at the top of the list for more than six months has been replaced by Bernard Arnault who now has a net worth of $210.8 billion.
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10 Billionaires In the World
Here is the list of the top 10 billionaires of the world in 2024:
1. Bernard Arnault - $210.8 billion
2. Elon Musk - $182.6 billion
3. Jeff Bezos - $177.4 billion
4. Larry Ellison - $139.3 billion
5. Mark Zuckerberg - $137.7 billion
6. Warren Buffett - $126.3 billion
7. Bill Gates - $122.2 billion
8. Larry Page - $117.7 billion
9. Steve Ballmer - $117.3 billion
10. Sergey Brin - $112.9 billion
This list gives an overview of wealth, determined by stock prices and exchange rates as of 1 February 2024. It draws inspiration from Forbes' list of billionaires, acknowledging the fluidity of fortunes that may alter within days of publication. It is essential to note that the list contains multi-generational family conglomerates, although the factors in the wealth are attributed to a billionaire's spouse and progeny when the person in question is the progenitor of said wealth.
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Billionaires Of The World
1. Bernard Arnault
Net worth: $211 billion
Source of wealth: LVMH
Citizenship: France
The luxury goods company, LVMH is managed by Bernard Arnault, who is in charge of a portfolio that includes 75 brands of clothing and cosmetics, including prestigious names like Sephora and Louis Vuitton. The significant acquisition of Tiffany & Co by LVMH in 2021 for a staggering $15.8 billion set a new record for premium brand acquisitions. The holding business of Arnault, Agache, supports the venture capital firm Aglaé Ventures by making tactical investments in companies like Netflix and ByteDance, the parent company of TikTok. Arnault started the purchase of Christian Dior in 1984 with a $15 million donation from his family's construction company. He proposed a restructure of his holding company, Agache, in July 2022 to distribute equal stakes to his five children, who are crucial to the operations of LVMH.
2. Elon Musk
Net worth: $180 billion
Source of wealth: Tesla, SpaceX
Citizenship: United States
Elon Musk is at the forefront of two revolutionary movements: space exploration through SpaceX and electric vehicles through Tesla. Musk, who was born in South Africa, travelled from Canada to the United States before enrolling in college. In September 2021, he started on the path to becoming the richest man in the world, helped along by the stock's stratospheric climb at Tesla, a company he had previously invested in before becoming CEO. Musk's fortune significantly decreased with the news of his $44 billion purchase of Twitter in April 2022, despite skyrocketing valuations at SpaceX. The sale of $23 billion worth of Tesla stock to finance the transaction and investor concerns over the growing obligations of another CEO role both contributed to this decrease.
3. Jeff Bezos
Networth: $114 B
Source: Amazon
Citizenship: United States
Amazon was painstakingly guided to its position as the largest online retailer in the world by Jeff Bezos, who is recognised for his unyielding leadership style and business savvy. This voyage was not without controversy, frequently causing conflicts with local companies and smaller rivals. Amazon's efforts to diversify have been particularly successful, with Amazon Web Services emerging as its most lucrative industry. With a net worth of $90.6 billion in July, Jeff Bezos momentarily held the title of richest person in the world, surpassing names like Bill Gates, Warren Buffett, and Mark Zuckerberg. A month later, Amazon made news when it paid a staggering $13.7 billion to buy the Whole Foods supermarket business.
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4. Larry Ellison
Networth: $107 B
Source: Oracle
Citizenship: United States
Larry Ellison, who holds around a 35% ownership position in Oracle and serves as its Chairman, Chief Technology Officer, and co-founder, is in charge of the software giant. In 2014, Ellison stepped down as CEO after serving in the position for 37 years. Strategic acquisitions of software firms, such as the historic $28.3 billion purchase of electronic health records supplier Cerner in 2021, have contributed to Oracle's growth trajectory. Ellison relocated permanently to the Hawaiian island of Lanai in 2020, which he had nearly entirely purchased for $300 million in 2012. From December 2018 until August 2022, he served as a member of Tesla's board. He still owns about 15 million shares of the electric car manufacturer.
5. Mark Zuckerberg
Net worth: $137.7 billion
Source: Facebook/Meta
Age: 39
Residence: Palo Alto, California
Citizenship: U.S.
Mark Zuckerberg, alongside colleagues, established Facebook—now rebranded as Meta Platforms—during his tenure as a Harvard University student in 2004, catalyzing its evolution into the globe's foremost social network, boasting a staggering 3.88 billion monthly users. Under his stewardship, Meta acquired and substantially augmented both Instagram and WhatsApp. Serving as Meta's CEO, Zuckerberg led the company through its public offering in 2012, retaining a significant 13% ownership stake. Together with his spouse Priscilla Chan, he has committed to allocating 99% of their company shares toward initiatives fostering human potential. A notable endeavour they are championing involves the creation of tools aimed at eradicating, managing, or preventing all diseases by the close of this century—an aspiration discussed by Zuckerberg and Chan in a recent dialogue with Forbes. In a September 2023 interview with the same publication, Zuckerberg expounded on Meta's overarching strategies as it approaches its twentieth anniversary. His resurgence among the world's wealthiest in the summer of 2023 marked a notable milestone, propelled by a surge in Meta's stock price, which saw his fortune balloon by $12.4 billion in January alone, coinciding with a modest uptick of over 10% in Meta's stock value.
6. Warren Buffett
Networth: $126.3 B
Source: Berkshire Hathaway
Citizenship: United States
As the "Oracle of Omaha," Warren Buffett is regarded as one of the most successful investors in history. He is in charge of several businesses at Berkshire Hathaway, including Geico, Duracell, and the Dairy Queen restaurant franchise. Buffett has committed to donating more than 99% of his wealth. He started his investment career when he was just 11 years old and filed his taxes at age 13. His total charity giving has surpassed $51 billion, with a large percentage going to the Gates Foundation and his philanthropic initiatives. The Giving Pledge, a campaign pushing billionaires to pledge to give away at least half of their fortune to charity causes, was started by Buffett and Bill Gates in 2010.
7. Bill Gates
Networth: $122.2 B
Source: Microsoft
Citizenship: United States
Bill Gates, who amassed his substantial wealth through the software juggernaut Microsoft, has diversified his investment portfolio to include zero-carbon energy initiatives. In a significant development, Bill and Melinda Gates, after 27 years of marital partnership, publicly announced their separation in May 2021. Despite this personal transition, they continue to jointly serve as co-chairs of the Gates Foundation, one of the world's preeminent philanthropic organisations. As part of their divorce settlement, Bill Gates, a co-founder of Microsoft alongside the late Paul Allen (who passed away in 2018), transferred a considerable volume of shares in publicly traded companies to Melinda, valued at an impressive sum exceeding $6 billion.
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8. Larry Page
Net worth: $117.7 billion
Source: Google
Age: 50
Residence: Palo Alto, California
Citizenship: U.S.
Larry Page, in collaboration with fellow Stanford PhD student Sergey Brin, co-established the pioneering search engine Google back in 1998, assuming the role of CEO until 2001 and subsequently from 2011 to 2015. Presently, he serves as a board member of Google's parent company, Alphabet, while retaining a significant controlling stake.
Page's investment ventures extend beyond the realm of tech, as evidenced by his founding investment in Planetary Resources, an asteroid mining enterprise, which was later acquired by blockchain firm ConsenSys in 2018.
His ascent into the ranks of the world's top 10 wealthiest individuals followed a substantial 15% surge in Alphabet's share price in May 2023. Notably, between January 1, 2024, and February 1, 2024, Page's fortune experienced a commendable increase of approximately $500 million, mirroring the modest uptick of about 1% in the value of Alphabet shares.
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9. Steve Ballmer
Source: $117.3 billion
Citizenship: United States
Source: Microsoft(ex-CEO), LA Clippers, multiple investments
From 2000 until 2014, Microsoft was led by the affable former CEO Steve Ballmer. Ballmer joined Microsoft as its 30th employee in 1980 after earning his MBA from Stanford. He guided the business through a variety of challenges, such as the aftermath of the dot-com bust and efforts to catch up to rivals like Google in terms of search capabilities and Apple in terms of mobile devices. In the same year that he departed Microsoft, Ballmer made headlines by paying an astounding $2 billion for the NBA's Los Angeles Clippers. Since 2014, he has significantly boosted his charitable giving, contributing more than $2 billion to a donor-advised fund with a focus on fostering economic mobility. Steve and his wife Connie contributed $425 million to the University of Oregon in 2022.
10. Sergey Brin
Net worth: $112.9 billion
Source: Google
Age: 50
Residence: Los Altos, California
Citizenship: U.S.
In December 2019, Sergey Brin relinquished his role as president of Alphabet, the parent entity overseeing Google, although he maintains influential control as a major shareholder and continues to serve on the board. His collaborative founding of Google alongside Larry Page traces back to 1998, a partnership forged during their studies in computer science at Stanford University.
Originating from Russia, Brin immigrated to the United States with his family at the age of six, fleeing anti-Semitic persecution. He now holds the distinction of being America's wealthiest immigrant. Notably, his wealth experienced a notable uptick of $500 million in January 2024, coinciding with a modest 1% appreciation in the value of Alphabet stock. Brin's philanthropic endeavours extend beyond financial investments, notably in the realm of medical research. Having publicly disclosed over a decade ago his heightened susceptibility to Parkinson's disease, he has directed more than $1.1 billion toward advancing the understanding and treatment of this neurodegenerative condition, with a particular focus on bolstering fundamental scientific exploration.
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