As an investment banker, I’ve always been fascinated by the world’s wealthiest individuals and the empires they’ve built. There’s something truly captivating about tracking the fluctuations in their net worth and understanding the business decisions that have propelled them to the top. The year 2024 has brought some interesting shifts in the billionaire landscape, and I’m excited to dive into the latest rankings of the world’s richest people.
Based on data from the
Real-Time Billionaires List, we’ll explore the top 10 wealthiest individuals on the planet, examining not just their mind-boggling net worth figures, but also the stories behind their success. From tech moguls to retail giants, these titans of industry have shaped our modern world in countless ways.
1. Elon Musk – $269.8 billion
Elon Musk, the South African-born entrepreneur, has maintained his position as the world’s wealthiest person with a net worth of $269.8 billion. Musk’s fortune stems primarily from his roles as CEO of electric vehicle manufacturer Tesla and aerospace company SpaceX.
Born in 1971, Musk showed an early aptitude for technology and entrepreneurship. He co-founded PayPal in 1999, which laid the foundation for his future ventures. In 2004, Musk became a major investor and chairman of Tesla, later taking over as CEO. Under his leadership, Tesla has become the world’s most valuable automaker.
Musk founded SpaceX in 2002 with the goal of reducing space transportation costs and enabling the colonization of Mars. The company has achieved numerous milestones, including becoming the first private company to send astronauts to the International Space Station.
In 2022, Musk acquired social media platform Twitter (now X) for $44 billion, adding to his diverse portfolio of companies. His other ventures include Neuralink, which is developing brain-computer interfaces, and The Boring Company, focused on infrastructure and tunnel construction.
2. Larry Ellison – $206.2 billion
Larry Ellison, co-founder and executive chairman of Oracle Corporation, has seen his net worth surge to $206.2 billion, making him the second richest person in the world. Ellison’s wealth is largely tied to his stake in Oracle, the software giant he co-founded in 1977.
Born in 1944 in New York City, Ellison dropped out of college and moved to California, where he worked as a programmer. He co-founded Software Development Laboratories, which later became Oracle, named after its flagship product, the Oracle Database.
Under Ellison’s leadership, Oracle grew to become one of the largest and most influential technology companies in the world. The company’s software is used by many of the world’s largest corporations, governments, and organizations.
Ellison stepped down as CEO of Oracle in 2014 but remains executive chairman and chief technology officer. He has also made significant investments outside of Oracle, including a substantial stake in Tesla, where he previously served on the board of directors.
3. Jeff Bezos – $205.8 billion
According to the
Real-Time Billionaires List, Jeff Bezos, founder and executive chairman of Amazon, holds the third spot on the list with a net worth of $205.8 billion. Bezos’s wealth is primarily derived from his Amazon shares, though he has diversified his investments in recent years.
Born in 1964 in Albuquerque, New Mexico, Bezos showed early signs of technological ingenuity. After graduating from Princeton University, he worked on Wall Street before founding Amazon in 1994 as an online bookstore.
Under Bezos’s leadership, Amazon expanded far beyond books to become the “everything store,” revolutionizing e-commerce and branching into cloud computing with Amazon Web Services (AWS), streaming with Prime Video, and various other sectors.
Bezos stepped down as CEO of Amazon in 2021 but remains executive chairman. He has since focused more on his other ventures, including aerospace company Blue Origin, which aims to make space travel more accessible, and The Washington Post, which he purchased in 2013.
In addition to his business ventures, Bezos has pledged billions to philanthropic causes, including climate change initiatives and education.
4. Bernard Arnault & family – $199.5 billion
Bernard Arnault, the French business magnate, is the chairman and CEO of LVMH (Moët Hennessy Louis Vuitton), the world’s largest luxury goods company. His net worth stands at $199.5 billion, making him the fourth richest person globally.
Born on March 5, 1949, in Roubaix, France, Arnault graduated from the prestigious École Polytechnique in 1971. He began his career in his father’s construction company, Ferret-Savinel, where he demonstrated his business acumen by shifting the company’s focus to real estate.
Arnault’s entry into the luxury goods sector came in 1984 when he acquired the bankrupt textile group that owned Christian Dior. He transformed LVMH into a global luxury powerhouse, overseeing brands such as Louis Vuitton, Hennessy, Bulgari, and Tiffany & Co.
Known for his strategic acquisitions and brand development, Arnault has involved his five children in various roles within LVMH, ensuring a family legacy in the business. His leadership has been marked by a focus on brand prestige, quality, and global expansion.
5. Mark Zuckerberg – $196.3 billion
Mark Zuckerberg, the co-founder and CEO of Meta (formerly Facebook), has a net worth of $196.3 billion, placing him fifth on the list of the world’s wealthiest individuals.
Born on May 14, 1984, in White Plains, New York, Zuckerberg showed an early aptitude for computer programming. He launched Facebook from his Harvard dorm room in 2004, which rapidly grew into the world’s largest social media platform.
Under Zuckerberg’s leadership, Facebook expanded through acquisitions of Instagram, WhatsApp, and Oculus VR. In 2021, he rebranded the company as Meta, signaling a shift towards the development of the metaverse.
Zuckerberg’s tenure has been marked by significant technological innovations, but also controversies surrounding user privacy and content moderation. Despite these challenges, Meta’s stock has recently surged, largely due to the company’s AI initiatives and the success of its Orion glasses prototype.
6. Warren Buffett – $143.9 billion
Warren Buffett, often called the “Oracle of Omaha,” is the chairman and CEO of Berkshire Hathaway. With a net worth of $143.9 billion, he is renowned as one of the most successful investors in history.
Born on August 30, 1930, in Omaha, Nebraska, Buffett displayed an extraordinary aptitude for business and investing from a young age. He studied under Benjamin Graham at Columbia Business School, where he honed his value investing philosophy.
Buffett took control of Berkshire Hathaway in 1965, transforming it from a failing textile company into a massive conglomerate. His investment strategy focuses on acquiring undervalued companies with strong fundamentals and holding them for the long term.
Throughout his career, Buffett has made successful investments in companies like Coca-Cola, American Express, and Apple. He is also known for his frugal lifestyle and philanthropic efforts, pledging to give away the majority of his wealth to charitable causes.
Despite his advanced age, Buffett remains active in business, continuing to lead Berkshire Hathaway and make significant investment decisions. His annual shareholder meetings, dubbed “Woodstock for Capitalists,” attract thousands of investors seeking his wisdom and insights.
7. Bill Gates – $138.6 billion
Bill Gates, co-founder of Microsoft, has maintained his position as one of the world’s wealthiest individuals with a net worth of $138.6 billion. Gates has transitioned from his role at Microsoft to focus on philanthropy and global health initiatives.
Born on October 28, 1955, in Seattle, Washington, Gates showed an early aptitude for computer programming. He co-founded Microsoft with Paul Allen in 1975, which became the world’s largest personal computer software company. Under his leadership, Microsoft developed groundbreaking products like Windows and Office.
In 2000, Gates and his then-wife Melinda established the Bill & Melinda Gates Foundation, which has become the world’s largest private foundation. The foundation focuses on global health, education, and poverty reduction. Gates has pledged to give away the majority of his wealth to philanthropic causes.
Since stepping down from day-to-day operations at Microsoft in 2008, Gates has devoted more time to the foundation and various other ventures, including clean energy investments and efforts to combat climate change.
8. Larry Page – $136.4 billion
Larry Page, co-founder of Google and former CEO of its parent company Alphabet, has amassed a fortune of $136.4 billion. Page’s wealth primarily stems from his stake in Alphabet, which he co-founded with Sergey Brin in 1998.
Born on March 26, 1973, in East Lansing, Michigan, Page showed an early interest in computers, influenced by his father’s career as a computer science professor. He met Brin while pursuing his Ph.D. at Stanford University, where they developed the PageRank algorithm that became the foundation of Google’s search engine.
Under Page’s leadership, Google expanded beyond search into various other technologies, including mobile operating systems (Android), cloud computing, and artificial intelligence. In 2015, Page became CEO of Alphabet, the newly formed parent company of Google, before stepping down in 2019.
Page is known for his “10X” mentality, pushing for innovations that are ten times better than existing solutions. He has also invested in flying car startups and renewable energy technologies.
9. Amancio Ortega – $133.4 billion
Amancio Ortega, the Spanish fashion tycoon, has built a retail empire that has led to a net worth of $133.4 billion. Ortega is best known as the founder of Inditex, the parent company of fashion giant Zara.
Born on March 28, 1936, in Busdongo de Arbás, Spain, Ortega came from humble beginnings. He started his career as a shop hand for a local shirtmaker in A Coruña. In 1975, he opened the first Zara store with his then-wife Rosalía Mera.
Ortega’s business model revolutionized the fashion industry with its “fast fashion” approach, quickly turning catwalk designs into affordable clothing. Inditex now owns several other fashion brands and has over 7,500 stores worldwide.
Despite his immense wealth, Ortega is known for his modest lifestyle and rarely gives interviews. He stepped down as chairman of Inditex in 2011 but remains the company’s largest shareholder. Ortega has also diversified his wealth through significant real estate investments globally.
10. Sergey Brin – $130.6 billion
Sergey Brin, co-founder of Google and former president of Alphabet, has accumulated a net worth of $130.6 billion. Like his partner Larry Page, Brin’s wealth primarily comes from his stake in Alphabet.
Born on August 21, 1973, in Moscow, Russia, Brin immigrated to the United States with his family at the age of six. He met Page at Stanford University while pursuing his Ph.D. in computer science, and together they developed the technology that would become Google.
Brin served as the president of Alphabet from 2015 to 2019, overseeing the company’s moonshot projects in Google X (now X Development). These included initiatives like self-driving cars and Google Glass.
Known for his interest in cutting-edge technology, Brin has invested in space exploration and airship companies. He has also been involved in philanthropic efforts, particularly in Parkinson’s disease research, motivated by his personal family history with the condition.
