As of 2024, the number of billionaires worldwide has reached a new high, with 2,781 individuals making the Forbes World’s Billionaires list and collectively worth $14.2 trillion. The United States continues to lead in billionaire citizens, with 813 individuals worth a total of $5.7 trillion, an increase of $1.2 trillion from the previous year. Notable newcomers to the list include Taylor Swift, Magic Johnson, and Sam Altman, with Americans holding 14 of the top 20 spots, including the richest person in the world, French businessman Bernard Arnault.
China comes in second with 406 billionaires worth $1.3 trillion, down from 576 individuals who were worth $2 trillion the previous year due to a property slump and stock market losses. India, the world’s second most populous country, saw a record number of billionaires at 200, with a collective net worth of $954 billion, a significant increase from the previous year. Mukesh Ambani and Gautam Adani are among the top 20 billionaires globally, representing India in the rankings.
Germany is in fourth place, with 132 billionaires who are collectively richer by $59 billion compared to the previous year. Russia follows closely behind in fifth place, with 120 billionaires worth $537 billion, showing a significant increase despite ongoing international tensions. Luxembourg and Uruguay have also made a mark on the billionaire list, with the former being the only new country to join this year and the latter making a return with successful entrepreneurs.
The top countries and territories with the most billionaire citizens in 2024 include the United Kingdom, Hong Kong, Canada, Brazil, Italy, Russia, Germany, India, China, and the United States. Each country has seen an increase in the number of billionaires and their net worth compared to the previous year, with a growing concentration of wealth in the hands of a few individuals. The ranking highlights the shifting landscape of global wealth distribution and the impact of economic factors on the billionaire class.
Overall, the world’s richest individuals continue to amass wealth at a rapid pace, with the United States maintaining its lead on China and other countries. As the number of billionaires and their collective net worth reach unprecedented levels, questions around economic inequality and distribution of wealth arise. The Forbes World’s Billionaires list serves as a reminder of the immense wealth held by a select few and the ongoing disparities in wealth distribution worldwide.
