Top 10 Richest People of The World: 2024 Edition

It might be surprising to say that half of the world’s net worth is distributed among the 1% of the population. Being among the top 10 richest people in the world means you have a substantial significance in global finance. This elite list, which we present in this article, features the richest people worldwide by March 2024. 

The most recent versions of these rankings may be seen on Forbes and the Voronoi app. To establish this hierarchy, they consider a person’s net worth, principal source of money, and place of living, among other factors. This meticulous process guarantees that the billionaire list accurately reflects individuals’ financial standing in the global economy. 

Being named the richest man in the world or ranking among the richest people in the world indicates one’s own financial achievement and emphasizes how wealth-building is dynamic and affects various industries. So, let’s set the ground before we look at this list. 

Key Takeaways

• Recent stats show that Bernard Arnault, the head of LVMH, is the world’s richest person.   
• Because of its crucial role in the global economy, the United States is home to the most significant number of the richest people on earth.
• Innovation and technology remain essential sources of wealth, and entrepreneurs like Elon Musk and Mark Zuckerberg are transforming the future with their businesses.
• The wealthiest woman in the world, Françoise Bettencourt Meyers, is the heiress of L’Oréal, showing the impact of the cosmetics sector on the distribution of wealth worldwide.

The Sectors That Fuel Global Billionaire Fortunes

The ten richest people in the world now have a collective net worth of $1.44 trillion. The net worths of numerous industries, such as technology, banking, and luxury products, are combined to get this statistic. 

Of these, Bernard Arnault stands out for having a substantial net worth. He is the CEO of LVMH, which includes labels Louis Vuitton and Christian Dior, making him a key player in the luxury goods industry. The overall rise in wealth shows how the richest people in the world are becoming increasingly concentrated.

It’s essential to know about the industries where these fortunes are accumulated before digging into the list of the richest people on the planet. Retail, luxury goods, technology, and investment are the primary industries. Technology is particularly notable as a significant source of wealth, with individuals such as Elon Musk and Mark Zuckerberg reshaping the digital world globally.

The market for luxury goods, headed by Bernard Arnault, is an example of the riches created by expensive goods for consumers. Jeff Bezos perfectly illustrates how retail demonstrates the financial strength of international e-commerce platforms.

Finally, as Warren Buffett shows, investing emphasizes accumulating wealth via calculated financial risks. The world’s richest people owe much of their wealth to these industries combined.

1. Bernard Arnault & Family

Because of his leadership at LVMH, one of the most significant luxury goods companies in the world and the parent company of renowned brands like Sephora, Christian Dior, and Louis Vuitton, Bernard Arnault and his family are recognized as the richest people in the world. Their net worth is listed as $235.6 Billion. 

His intentional diversification into technological ventures has strengthened Arnault’s inclusion in the current generation of billionaires. Beyond the high-end labels under LVMH, his holdings in tech businesses are substantial.

Elon Musk used to lead this list some time ago, but a significant change happened when his wealth dropped by 21%, making Arnault the richest person in the world. 

This change highlights how volatile billionaires’ net worths are, reflecting the economy’s and stock market’s turbulence. Arnault’s ascent to the top of the global wealth rankings proves his ability in business and the fact that the wealth of the richest people on the planet is constantly changing for several reasons.

2. Jeff Bezos

Initially an online bookstore, Amazon was created by Jeff Bezos and has since grown to become a significant player in cloud computing and global e-commerce. His ideas revolutionized online shopping and service delivery, establishing Amazon as an international household brand. Since its founding, Bezos has managed its rapid expansion, helping it rank among the most valuable firms in the world.

Jeff Bezos decided to leave his position as CEO of Amazon in 2021 to dedicate more time to Blue Origin, his space exploration business. His dedication to the company demonstrates his optimism for space travel’s future and his willingness to advance human space exploration.

Jeff Bezos has invested in various businesses and industries, including media, real estate, and other technology giants, in addition to Amazon and Blue Origin.

His ownership stake in Amazon, the world’s largest retailer, remains a substantial portion of his net worth, with a 10% stake. In addition to Amazon and Blue Origin, he owns assets of The Washington Post, and his total net worth is $192.8 Billion.

3. Elon Musk

Elon Musk, whose journey began at Stanford University studying physics, is known for founding the space exploration company SpaceX. 

Tesla has dramatically impacted the tech and auto industries with its eccentric reputation and innovative decisions. Musk’s efforts with Tesla have sped up the uptake of electric cars and established the business as a pioneer in environmentally friendly transportation. Under Musk’s direction, SpaceX has transformed space exploration with its ambitious Mars missions and reusable rockets.

Beyond his ventures into electric cars and space travel, Musk’s portfolio has expanded with this ambitious entrance into social media. Musk’s tendency to take on challenging ventures with the potential to completely change an industry is shown in the acquisition of The X (previously Twitter). This decision has significantly increased his total net worth. 

Who would believe in Stanford University that Elon Musk would have a $188.5 Billion fortune today? His ownership stake at Tesla is 13%, and he owns 79% of the X.

Fast Fact

In 1916, John D. Rockefeller became the first billionaire in history. His business sense in starting the Standard Oil Company helped him rise to prominence as one of the richest people in the world.

4. Mark Zuckerberg

When Mark Zuckerberg co-founded Facebook, which is now called Meta, he transformed how people connect worldwide. His invention, which began in a Harvard University dorm room in 2004, swiftly grew beyond academic circles to become the largest social network in the world.

The transformation of Facebook into Meta platforms highlights its expansion into a conglomerate that includes a range of technological and social media endeavors.

Because of Meta’s successful performance in the digital market, Zuckerberg’s wealth has increased significantly. The company’s ability to link billions of users globally and its smart acquisitions have been key factors in the significant growth of its wealth. 

Zuckerberg’s standing as one among the richest person in the world continues to grow as Meta keeps innovating in the tech sector. He owns 13% of  Meta’s stakes and his net worth is $169.8 Billion. 

5. Larry Ellison

Larry Ellison is a Co-founder and chief technology officer of the software firm Oracle. His groundbreaking work in database technology has greatly influenced the software market. Under the direction of Larry Ellison, Oracle has grown to be a significant player in software and cloud computing services. 

In addition to his work with Oracle, Larry Ellison has pursued several investment ventures. Among these is his ownership of Tesla, demonstrating his interest in innovative technologies and renewable energy sources. His charitable endeavors are also admirable; he has contributed to health, education, and wildlife protection.

Larry Ellison owns more than 42% of Oracle and has a net worth of $154.6 Billion.

6. Warren Buffett

Acknowledged as the “Oracle of Omaha,” Warren Buffett is praised for his value-oriented investing approach. Leading Berkshire Hathaway, Buffett has shown an extraordinary talent for spotting undervalued businesses, turning a failing textile factory into a massive conglomerate. In addition to consumer goods, his portfolio of fully owned prominent companies includes stakes in railroads, energy distribution, and insurance.

Warren Buffett, a very rich man, co-founded the Giving Pledge, an initiative to inspire billionaires worldwide to contribute a sizeable percentage of their money to charitable organizations. The pledge embodies his devotion to philanthropy, which he has agreed to dedicate most of his wealth to.

Buffett owns a 15% share of Berkshire Hathaway, and his fortune is estimated at around $135 Billion. 

7. Bill Gates

Through his inventions and altruism, Bill Gates, co-founder of Microsoft, has forever influenced the technology sector and the world. Under his direction, Microsoft emerged as a major force in personal computers and substantially impacted the digital revolution.

Bill Gates, starting from Harvard University, turned his attention to philanthropy after leaving Microsoft. He stepped down from being the company’s chairman and directed his resources and connections to the Bill & Melinda Gates Foundation. In the areas of global health, education, and poverty reduction, this foundation has been significant.

In addition to his philanthropic activities, Bill Gates oversees his finances via the private investment company Cascade Investment LLC. With Cascade, Gates has expanded his investments outside technology to include real estate, agriculture, and hospitality. 

His wide-ranging interest in many areas of the economy is demonstrated by his strategic approach to investing, which strengthens his position as one of the richest people in the world.

Bill Gates has other assets in multiple companies. His Microsoft ownership stake is now only 1.4%, and his net worth is listed as around $129.5 Billion.

8. Steve Ballmer

While Steve Ballmer was CEO of Microsoft, he led the business through important expansion and change phases. Under his direction, Microsoft strengthened its position as the market leader in the software sector, entering new areas and establishing a stronghold in the computer industry. 

After Microsoft, Steve Ballmer moved into the sports industry and bought the NBA team Los Angeles Clippers. This move demonstrated his wide range of assets and interests, moving from technology to sports franchise ownership.

Ballmer has a diverse portfolio of assets, including the Los Angeles Clippers and other businesses already mentioned, in addition to his shares in Microsoft. His participation in both the technology industry and sports franchise ownership is an example of how to successfully move from being the CEO of one of the most significant tech companies in the world to becoming a prominent figure in the sports sector.

Steve’s net worth is $123.5 Billion, owning a 4% share of Microsoft and a 4.5% asset of LA Clippers, among other assets. 

9. Larry Page

Larry Page is known for co-founding Google with Sergey Brin. Since then, the firm has become synonymous with internet search and greatly impacted the information age. Under Page’s direction, Google added advertising, maps, and cloud computing to its list of services beyond search, further cementing its position as the top search engine in the world.

His strategy expanded Google’s operations into other industries and became Alphabet Inc., a conglomerate that now includes Google and many other high-tech businesses.

Additionally, Larry Page has invested in firms that seek to advance in the areas of space exploration and flying car development. His investments show his dedication to developing innovative technology that may influence space exploration and transportation in the future. 

He owns 6% of Alphabet’s shares, and his net worth is estimated at $118 Billion. 

10. Sergey Brin

Sergey Brin was essential in founding Google, which later transformed into Alphabet Inc. and greatly impacted the technology industry. In collaboration with Larry Page, Brin created a search engine that categorized all of the world’s information and made it usable and available to everyone.

Beyond Google’s search engine, Brin has played a key role in Alphabet’s diversification into other digital fields, such as autonomous car development, artificial intelligence, and health technology. His investments in and support of revolutionary space technologies demonstrate his interest in space exploration. Brin has also contributed to politics and social and economic causes.

His net worth is around $123 Billion, and he owns 6% of Alphabet Inc.

Global Wealth Distribution

The United States leads the world in the distribution of wealth among billionaires, reflecting its strong economic standing and ability to stimulate investment, entrepreneurship, and innovation.

The concentration of wealth in the United States indicates larger economic trends and the nation’s critical role in banking, technology, and many other industries that support the development and maintenance of enormous personal wealth.

Who is The Richest Woman?

The richest people in the world are successful in various fields, such as cosmetics, entertainment, and food. Many are Americans, showing the nation’s capacity to generate and expand enormous individual wealth.

Françoise Bettencourt Meyers leads the pack, the wealthiest woman on the planet. She inherited the world’s largest cosmetics company, L’Oréal.

Her net worth is around $96 billion. Françoise, who inherited her money from Liliane Bettencourt, her mother, owns about 33 % of the shares in L’Oréal. She has been a board member of the company since 1997, which has increased her power within the organization.

Apart from her professional accomplishments, Françoise is committed to philanthropy through the Fondation Bettencourt Schueller, which focuses on the arts and sciences and promotes a more inclusive community.

Final Thoughts

We have mentioned and discussed the individuals who stand as the most successful investors and the world’s richest people, from tech billionaires who are changing society to visionaries who are reaching new heights and persons who are committed to philanthropy. 

Their total net worth is evidence of their influence in several areas, including technology, luxury products, retail, and more. Currently, the world’s richest man is Bernard Arnault, who has a family business. 

The accumulation of wealth and its larger implications for the global market, innovation, and philanthropy are at the core of these stories. For instance, The Giving Pledge demonstrates the determination of some of the richest people on the planet to tackle the most important global issues.

In addition, the United States is home to the greatest number of billionaires, which indicates its critical role in creating an atmosphere that encourages innovation and entrepreneurship.

FAQ

How many Billionaires are there in the world? 

Forbes estimates that as of March 2024, 2,555 people in the world are billionaires. 

Which nation boasts the highest number of billionaires?

With 724 billionaires living there at the moment, the United States is at the top of the list.

Who is the youngest billionaire?

Clemente Del Vecchio is currently recognized as the youngest billionaire. His net worth is around $4.5 billion.