The 2024 List of the Top 10 Richest People Worldwide

As an economics professor, I’ve always been fascinated by the accumulation and distribution of wealth in our global society. The list of the world’s richest individuals not only reflects personal success stories but also provides insight into the evolving landscape of our global economy. In 2024, we see a continuation of a trend that has been developing for years: the dominance of tech moguls at the top of the wealth pyramid. The combined net worth of the top 10 richest people in the world now exceeds a staggering $1.7 trillion. To put this into perspective, that’s more than the GDP of most countries. What’s particularly intriguing is how this wealth is concentrated in the hands of individuals who have revolutionized industries, especially in technology and e-commerce. As we delve into the lives and fortunes of these billionaires, it’s crucial to consider not just the numbers, but also the impact these individuals have on global markets, innovation, and even public policy. Their companies employ millions, their products and services touch billions of lives, and their philanthropic efforts aim to tackle some of the world’s most pressing issues. Based on data from the Real-Time Billionaires List, we’ll explore the top 10 richest people in the world as of 2024, examining not only their net worth but also the sources of their wealth and the journeys that led them to the pinnacle of global affluence.

1. Elon Musk – $269.8 billion

Elon Musk is the wealthiest person in the world with an estimated net worth of $269.8 billion. He is the CEO and co-founder of electric vehicle company Tesla, as well as the founder and CEO of SpaceX. Musk was born in Pretoria, South Africa in 1971. He showed an early aptitude for technology, creating and selling a video game at age 12. After moving to the United States, Musk co-founded web software company Zip2, which was acquired for nearly $300 million in 1999. He then co-founded online bank X.com, which later became PayPal and was sold to eBay for $1.5 billion in 2002. In 2004, Musk invested heavily in Tesla and became chairman of the board. He took over as CEO in 2008 and has led the company to 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 in private spaceflight. Musk’s other ventures include Neuralink, which is developing brain-computer interfaces, and The Boring Company, which aims to build underground transportation networks. In 2022, Musk acquired social media platform Twitter for $44 billion and renamed it X.

2. Larry Ellison – $206.2 billion

Larry Ellison is the co-founder, executive chairman and CTO of software giant Oracle. According to the Real-Time Billionaires List, his net worth is estimated at $206.2 billion, making him the second richest person in the world. Born in New York City in 1944, Ellison was adopted as an infant and raised in Chicago. He dropped out of college twice before moving to California in 1966. In 1977, Ellison co-founded Software Development Laboratories, which later became Oracle Corporation. Under Ellison’s leadership, Oracle grew to become one of the largest and most influential technology companies in the world. The company specializes in database software and cloud computing systems. Ellison stepped down as CEO in 2014 but remains executive chairman and CTO. Outside of Oracle, Ellison is known for his lavish lifestyle, including owning luxury real estate and yachts. He owns 98% of the Hawaiian island of Lanai. Ellison is also a major investor in Tesla, where he serves on the board of directors.

3. Jeff Bezos – $205.8 billion

Jeff Bezos is the founder and executive chairman of e-commerce and cloud computing giant Amazon. His net worth is estimated at $205.8 billion. Bezos was born in Albuquerque, New Mexico in 1964. After graduating from Princeton University, he worked on Wall Street before moving to Seattle in 1994 to start an online bookstore. That venture grew into Amazon.com, which launched in 1995 and quickly became one of the world’s largest retailers. Under Bezos’ leadership, Amazon expanded far beyond online retail into areas like cloud computing (Amazon Web Services), artificial intelligence, and media production. He stepped down as CEO in 2021 but remains executive chairman. Bezos’ other business ventures include aerospace company Blue Origin and ownership of The Washington Post newspaper. He has pledged billions to causes like climate change and homelessness through his Bezos Earth Fund and Day 1 Families Fund.

4. Bernard Arnault & family – $199.5 billion

Bernard Arnault is the chairman and CEO of LVMH (Moët Hennessy Louis Vuitton), the world’s largest luxury goods company. His net worth is estimated at $199.5 billion. Arnault was born on March 5, 1949, in Roubaix, France. He graduated from the École Polytechnique, France’s leading engineering school, in 1971. Arnault began his career working for his father’s construction company, Ferret-Savinel, before venturing into the luxury goods industry. In 1984, Arnault acquired Financière Agache, a luxury goods company, and became its CEO. He then led the acquisition of Christian Dior and other brands. In 1987, Arnault co-founded LVMH with Alain Chevalier and Henry Racamier, gaining control of the company in 1989. Under Arnault’s leadership, LVMH has grown to include around 75 luxury brands across various subsidiaries. His business acumen has earned him nicknames such as “The Terminator,” “The Great Predator of Luxury,” and “The Wolf in the Cashmere Coat”. Arnault is known for his passion for art and has established LVMH as a patron of art in France. He founded the Louis Vuitton Foundation, dedicated to contemporary art.

5. Mark Zuckerberg – $196.3 billion

Mark Zuckerberg is the co-founder, chairman, and CEO of Meta (formerly Facebook). His net worth is estimated at $196.3 billion. Born on May 14, 1984, in White Plains, New York, Zuckerberg showed an early aptitude for computer programming. He co-founded Facebook in February 2004 while studying at Harvard University. The platform has since grown to over 3 billion users worldwide. In October 2021, Zuckerberg rebranded Facebook as Meta Platforms Inc., shifting the company’s focus towards developing the metaverse, a 3D digital reality. Zuckerberg’s wealth primarily comes from his ownership stake in Meta. As of May 2024, his 5.6% stake in the company was valued at almost $161 billion. Zuckerberg has faced various challenges as CEO, including testifying before the U.S. Congress on user privacy issues and admitting to data sharing with Cambridge Analytica prior to the 2016 Presidential election. Outside of his business ventures, Zuckerberg and his wife, Priscilla Chan, have pledged to give away 99% of their wealth during their lifetimes.

6. Warren Buffett – $143.9 billion

Warren Buffett, known as the “Oracle of Omaha,” is one of the most successful investors in history. His net worth is estimated at $143.9 billion. Born on August 30, 1930, in Omaha, Nebraska, Buffett showed an early interest in business and investing. He graduated from the University of Nebraska and later earned a Master’s degree in economics from Columbia University. Buffett began his investment career in the 1950s, working for various firms before starting his own partnership in 1956. In 1965, he acquired Berkshire Hathaway, transforming it from a struggling textile company into a diversified conglomerate. As CEO of Berkshire Hathaway, Buffett has built a vast investment portfolio that includes significant stakes in companies like Coca-Cola, American Express, and Apple. His investment philosophy focuses on value investing and long-term, prudent decision-making. Despite his immense wealth, Buffett is known for his frugal lifestyle. He still lives in the same house he purchased in Omaha in 1958 for $31,500. Buffett is also a prominent philanthropist, having pledged to give away the majority of his wealth to charitable causes. He co-founded The Giving Pledge with Bill and Melinda Gates, encouraging billionaires to donate at least half of their wealth to charity.

7. Bill Gates – $138.6 billion

Bill Gates, co-founder of Microsoft, has a net worth of $138.6 billion. Born on October 28, 1955, in Seattle, Washington, Gates showed an early interest in computer programming. Gates co-founded Microsoft with Paul Allen in 1975, initially developing BASIC for the Altair 8800. Under his leadership, Microsoft became the world’s leading software company, developing groundbreaking products like MS-DOS and Windows. After stepping down as Microsoft’s CEO in 2000, Gates transitioned to focus on philanthropy. He co-founded the Bill & Melinda Gates Foundation with his then-wife Melinda in 2000, which has become one of the world’s largest private foundations, focusing on global health, development, and education. Despite giving away billions through his foundation, Gates remains one of the world’s wealthiest individuals. His investment portfolio includes stakes in various companies, and he is the largest private owner of farmland in the United States.

8. Larry Page – $136.4 billion

Larry Page, co-founder of Google, has a net worth of $136.4 billion. Born on March 26, 1973, in East Lansing, Michigan, Page showed an early interest in technology and computers. Page co-founded Google with Sergey Brin in 1998 while they were Ph.D. students at Stanford University. Their innovative approach to web search quickly made Google the world’s most popular search engine. Page served as Google’s CEO from 2011 to 2015 and became CEO of Alphabet, Google’s parent company, from 2015 to 2019. Under Page’s leadership, Google expanded into various other technologies and services, including mobile operating systems (Android), cloud computing, and artificial intelligence. He has been a driving force behind many of Google’s ambitious projects, including self-driving cars and extending internet access to remote areas. Page is known for his interest in flying cars and has invested in several companies working on electric aircraft and other futuristic transportation technologies.

9. Amancio Ortega – $133.4 billion

Amancio Ortega, founder of Inditex fashion group, best known for its chain of Zara clothing and accessories shops, has a net worth of $133.4 billion. Born on March 28, 1936, in Busdongo de Arbás, Spain, Ortega came from humble beginnings. Ortega founded Inditex in 1975 with his ex-wife Rosalía Mera. The company’s flagship brand, Zara, revolutionized the fashion industry with its “fast fashion” model, quickly turning the latest trends into affordable clothing. Inditex has since grown to include other popular brands like Pull&Bear, Massimo Dutti, and Bershka. Known for his private nature, Ortega rarely gives interviews and maintained a low profile even as his wealth grew. He stepped down as chairman of Inditex in 2011 but still owns about 59% of the company’s shares. Ortega has diversified his wealth through real estate investments in major cities worldwide and has made significant philanthropic contributions, particularly in education and healthcare in Spain.

10. Sergey Brin – $130.6 billion

Sergey Brin, co-founder of Google alongside Larry Page, has a net worth of $130.6 billion. Born on August 21, 1973, in Moscow, Russia, Brin immigrated to the United States with his family at the age of six. Brin met Larry Page at Stanford University while pursuing his Ph.D. in computer science. Together, they developed the PageRank algorithm, which became the foundation for Google’s search engine. Google was founded in 1998 and quickly grew to become one of the world’s most valuable companies. Brin served as the president of Alphabet, Google’s parent company, until December 2019. He has been involved in various Google X projects, including the development of Google Glass and the company’s self-driving car initiative. Known for his interest in emerging technologies, Brin has invested in various projects related to space exploration and biotechnology. He has also been involved in philanthropic efforts, particularly in Parkinson’s disease research, a condition that runs in his family.