The Hurun Report’s 2024 Global Rich List revealed that the world’s 10 richest individuals are now worth a combined $1.5 trillion, with Elon Musk leading the pack with a fortune of $231 billion. Tesla’s stock performance and the success of SpaceX have contributed to Musk’s financial resurgence. Amazon founder Jeff Bezos followed closely behind with a net worth of $185 billion, primarily driven by the success of Amazon’s cloud computing division. Bernard Arnault of LVMH held onto third place with a fortune of $175 billion, despite facing a significant decrease in wealth.
Mark Zuckerberg of Meta saw a meteoric rise in wealth, doubling to $158 billion as Meta’s stock value surged. Former Google CEO Larry Page also entered the top 10 with a net worth of $123 billion, highlighting the tech industry’s impact on global wealth. The list also saw the displacement of luxury and cosmetics moguls Bertrand Puech of Hermès and Françoise Bettencourt Meyers of L’Oréal from the top 10, signaling a shift in sources of billionaire wealth.
China remains the global leader in terms of billionaires, with 814 individuals, despite losing 155 billionaires. The United States closely follows with 800 billionaires, adding 109 to its tally. New York reclaimed its title as the world’s billionaire capital, with London rising to second place. India emerged as a significant player, adding 84 billionaires and almost doubling the count in the U.K. Mumbai experienced rapid growth, becoming the fastest-growing billionaire capital globally and overtaking Beijing to become Asia’s billionaire capital.
The report attributed the majority of the new wealth to the top 10 richest individuals, with their combined wealth representing 10 percent of the total list. Eight of the top 10 billionaires are from the USA, with one each from France and India. Hurun Report, a leading indicator of the richest billionaires worldwide, publishes an annual Global Rich List that provides insight into the changing landscape of global wealth. The success of tech industry leaders like Musk, Bezos, Zuckerberg, and Page demonstrates the influence of technology on global wealth distribution. Despite fluctuations in wealth among billionaires, cities like New York, London, and Mumbai are emerging as key hubs for billionaire wealth in the world.
