Top Five Richest People in the World 2024

This Spanish billionaire is considered one of the pioneers of fast fashion. He is the co-founder of Inditex fashion group, known worldwide for being the parent company of brands Zara, Massimo Dutti and Bershka, among others. One of the wealthiest clothing retailers in the world owns 60 percent of Inditex, which has about five richest people in the world 7500 stores worldwide. He has invested his income from Inditex dividends into various real estate properties across the world. According to a Financial Times report from 2022, he invested through his company, Pontegadea, and his property holdings were worth $17.2 billion.

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The company saw significant growth in market capitalization during 2020 and 2021, which helped retained earnings Musk join the ranks of the world’s top 10 richest people by September 2021. At its peak in November 2021, Musk’s fortune reached an astounding $320 billion. Its release also comes the day before billionaire President-elect Donald Trump’s inauguration.

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• Musk countersued the company but then reversed course and declared he was willing to buy it after all.
• This article unveils the identities of the top 10 richest people globally, shedding light on their remarkable accomplishments, entrepreneurial aptitude, and profound influence on the global economy.
• Alphabet shares have jumped 27% since Google announced its suite of AI tools in May.
• If current trends continue, the world could see its first trillionaire in a decade.
• Women occupy a small but growing slice of Forbes’ World Billionaires list.
• Ambani’s net worth has climbed nearly $20 billion to $100 billion since March, reported Moneycontrol quoting Bloomberg‘s data.

This represents an increase of 247 members and $1.9 trillion compared to 2024. This year also marked the first time Bill Gates dropped out of the top 10 richest people, which he had been part of for 33 years since the 6th annual Forbes list of the world’s billionaires in 1992. After dropping in the Forbes ranking, Musk became the world’s richest person again on June 8, 2023 and held onto the number one spot for the remainder of 2023. Musk’s fortune rose by about $6 billion in December, lifted by a 4% rise in the price of Tesla shares. Together the world’s 10 richest people, according to Forbes, are worth $1.47 trillion as of the strike of midnight on January 1—up from $1.44 trillion a month ago.

• A record 3,028 people around the globe making Forbes’ annual list for 2025, 247 more than last year.
• Musk became the world’s richest person yet again in late May 2024, after his startup xAI raised $6 billion from private investors at a $24 billion valuation.
• Luxury goods tycoon Bernard Arnault of France did not fare as well, despite the stronger Euro.
• Some 148 of the world’s largest corporations made nearly $1.8 trillion in profits in the 12 months leading up to June 2023, Oxfam said.
• Nicky Oppenheimer ranks as the third richest person in Africa and 219th globally, with a net worth of $11.5 billion.
• Buoyed by a big bet on Apple, which now makes up more than half of Berkshire’s equity portfolio, the stock is up 32% since last year’s ranking.

Larry Ellison: $134.9 billion

Virgin Islands over an alleged connection with Jeffrey Epstein, about which they have not commented. As a group, the top 20 are richer than ever, worth nearly $1.9 trillion in aggregate. These 20 people are 30% wealthier than they were a year ago, on average, far outpacing the 12% average jump in wealth across the entire list. They hold 40% of the entire 400’s net worth, and could buy the bottom 340 billionaires—with billions to spare. In late March the Oracle of Omaha, a veteran of market crises, reportedly advised the Biden administration on bank runs and discussed possible investments in regional banks.

The Kenya Times compiled the list of the top 5 richest people in the year 2023 according to Forbes. In 2010, Buffett and Bill Gates and Melinda French Gates established the Giving Pledge initiative, which urges billionaires to donate at least 50 percent of their wealth to charitable organisations. Demonstrating his unwavering philanthropic commitment, Buffett has expressed his intention to donate 99 percent of his fortune. In May 2012, Zuckerberg took the company public, and by December 2016, he was ranked 10th on the Forbes list of The World’s Most Powerful People. Currently, Zuckerberg owns Cash Flow Management for Small Businesses about 13.68 percent of stake in Meta Platforms.

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He runs Berkshire Hathaway, a holding conglomerate that owns dozens of companies across sectors like insurance, manufacturing, utilities, transportation and retail. Larry Ellison currently has a personal fortune of $134.9 billion, according to Forbes, down from $145.5 in November 2023. Presently positioned at 10th, Huang boasts a net worth estimated at $118 billion, primarily attributed to his considerable stake in Nvidia. This change reflects the recent stock performances of their respective companies, with Meta shares rising by approximately 4% to $630.20, contrasting with Oracle’s slight decline of 0.3% to $165.78.

Net Worth: $15 Billion

• Erin pairs personal experience with research and is passionate about sharing personal finance advice with others.
• This year there are 15 Arizonan billionaires on this year’s Forbes list, which is up from 14 in 2024, 11 in 2023 and 12 in 2022.
• It hasn’t been easy, especially amid AI competition and tech layoffs, including 21,000 job cuts at his Meta Platforms since November.
• The rise in fortunes of those at the top of the billionaires ranking came as the Nasdaq climbed 0.7% in the past month while the S&P 500 fell 1.1%.
• Often, these billionaires are founders of enterprise giants and multinational companies, with much of their wealth coming from the companies that they started.

Discover the top 10 richest people in the world today and how they built their fortune. This year’s Oxfam report, titled Takers not Makers, also points out that more than one-third of billionaires’ wealth stems from inheritance. In 2023, more billionaires amassed their wealth through inheritance than through entrepreneurship for the first time.

Together with his family, Carlos Slim Helu controls Mexican telecommunications corporation América Móvil and has a net worth of $62.8 billion. He also has a 17 percent stake in The New York Times, among other investments. Investor and noted Dairy Queen enthusiast Warren Buffett is the CEO of Berkshire Hathaway, which owns GEICO, Duracell, Fruit of the Loom, and dozens of other companies (including Dairy Queen).

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Bernard Arnault fell to No. 2 richest in early June 2023 and has remained at that rank. He was the richest person in the world for the first five months of 2023. Elon Musk is the richest person in the world, a position he held for much of 2022 as well.