The Top 5 Billionaires in the World in 2024

In this article, look at the five people predicted to be the richest people in the world in 2024 and how they amassed their massive wealth. These visionary entrepreneurs have founded some of today’s most influential companies, including Tesla, Amazon, Facebook, and LVMH. Although there is some uncertainty in predicting net worth years in advance, current trends indicate that these five people will be among the world’s richest people by 2024 due to the continued growth and success of their companies. It is suggested that it will be at the top of the list. Exploring their backgrounds, business strategies, and sources of wealth provides insight into how these billions of dollars of wealth were created. While billionaires make significant contributions to innovation and economic growth, the concentration of wealth also raises concerns about inequality.

The goal of this article is to provide an objective analysis of the projected wealthiest individuals for 2024, as well as the implications of their enormous wealth. The goal is to present a thorough synopsis of these people, including their backgrounds, methods of establishing an empire, and the global implications of their wealth.

1. Elon Musk ($251 Billion)

Elon Musk is an entrepreneur and businessman, founder and CEO of SpaceX, co-founder of Neuralink and OpenAI, and former chairman of SolarCity and Tesla. Musk’s net worth in 2024 is estimated at $251 billion. Musk was born in South Africa, immigrated to Canada at the age of 17, and later became a U.S. citizen. He attended the University of Pennsylvania and earned a bachelor’s degree in economics and physics.

In 1995, Musk co-founded his web software company Zip2 with his brother Kimbal, which was acquired by Compaq in 1999. That same year, Musk co-founded the online bank X.com. X.com later merged with Confinity to become PayPal. PayPal was sold to eBay in 2002 for $1.5 billion.

After selling PayPal, Musk founded SpaceX in 2002 with the goal of reducing the cost of space transportation to make it possible to colonize Mars. SpaceX has developed launch vehicles and spacecraft, including the Falcon 9 rocket and Dragon capsule.

In 2020, SpaceX became the first private company to fly NASA astronauts to the International Space Station.

In 2004, Musk became one of the first investors in electric car maker Tesla Motors (now Tesla). Until his retirement in 2018, he served as chairman and CEO, and remains a major shareholder. Under his leadership, Tesla brought electric vehicles to the mainstream with models such as the Model S and Model 3. Musk co-founded OpenAI in 2015 to develop user-friendly artificial intelligence.

In 2016, he founded Neuralink, a neurotechnology company focused on developing machine interfaces. He pursues an ambitious vision for every company, with the aim of revolutionizing transportation, infrastructure and technology.

2. Bernard Arnault ($197 billion)

Bernard Arnault is the chairman and CEO of LVMH (Louis Vuitton Moët Hennessy), the world’s largest luxury goods company. Arnault was born in France in 1949, graduated from the Ecole Institute of Technology and joined his family’s construction company in 1971.

In 1984, he bought out the bankrupt Boussac Saint-Frères for $15 million and gained control of Christian Dior as part of the deal. Arnault then expanded into luxury brands and acquired LVMH in a board coup in 1989. Under his leadership, LVMH acquired well-known brands such as Givenchy, Marc Jacobs, Sephora, and Tiffany & Co.

Currently, LVMH includes more than 75 of his famous brands, including Louis Vuitton, Dior, Celine, Fendi, and Don Perignon. With annual sales of more than $70 billion, his LVMH company dominates the global luxury goods market.

Driven by a vision to make LVMH a global leader in luxury goods, Arnault has built a reputation as a shrewd and aggressive dealmaker. Nicknamed “The Wolf in Cashmere” in France, he is known for identifying iconic brands and turning them into profitable real estate. LVMH’s sales grew rapidly even during the pandemic. Mr. Arnault, now 73 years old, is still deeply involved in the management of LVMH, and his children are in a position to take over the management.

As of 2024, Mr. Arnault’s net worth is estimated at $197 billion, making him the second richest person in the world. His wealth primarily comes from his97% stake in Christian Dior, which controls 41 percent of LVMH.

3. Jeff Bezos ($174 billion)

Jeff Bezos is the founder and CEO of Amazon, an e-commerce giant and one of the world’s most valuable companies. Mr. Bezos was born in New Mexico in 1964 and showed an aptitude for science and technology from an early age.

After graduating from Princeton University in 1986 with degrees in computer science and electrical engineering, he worked on Wall Street and decided to open an online bookstore in 1994. From its humble beginnings as an online bookstore, Amazon has expanded to sell all kinds of products, making Amazon a leader in the online retail market. Under Bezos’ leadership, Amazon pioneered innovations such as one-click ordering, customer reviews, and free two-day shipping for Prime members. The company is also expanding into cloud computing services, streaming media, artificial intelligence and other technologies.

In 2013, Bezos bought the Washington Post. And in 2000, he founded the aerospace company Blue Origin to develop technology for private space travel.

Jeff Bezos was ranked the richest person in the world by Forbes magazine with an estimated net worth of $174 billion in 2024. He was overtaken by Tesla founder Elon Musk in 2021, temporarily losing this title. But thanks to the continued growth of Amazon, which now accounts for more than 40% of U.S. e-commerce sales, Bezos has regained the top spot. Bezos has been criticized for Amazon’s market dominance and treatment of workers. But he remains focused on his long-term vision, making Amazon a “everything store” selling every product imaginable and ultimately expanding human settlements beyond Earth through Blue Origin.

The aims. His vision and business acumen made him one of the richest and most influential people in the world.

4. Larry Ellison ($135 billion)

Larry Ellison is the co-founder, chairman and chief technology officer of Oracle Corporation. Born in New York City in 1944, Ellison dropped out of college twice before moving to California in 1966. After Ellison worked as a computer programmer at several companies, in 1977 he founded Oracle along with two partners. Initially, Oracle was financed with just $2,000 of Ellison’s own money and focused on building databases for enterprise customers.

Under Ellison’s leadership as CEO, Oracle grew rapidly organically and through acquisitions during his 1980s and his 1990s. By the early 2000s, Oracle had become one of the world’s leading enterprise software companies.

In 2004, Mr. Ellison stepped down as CEO but remained with Oracle as chief technology officer. Later, in 2014 he also became CEO. Over the decades, Oracle has grown into a technology giant providing database software and technology solutions to leading companies around the world. The company has more than 130,000 employees worldwide and annual sales of approximately $40 billion. Ellison made Oracle a dominant player in the database management field.

He pioneered many innovations in database technology that have become industry standards. Ellison is also known for his lavish lifestyle and ambitious activities such as yacht racing. His wealth primarily comes from his approximately 35% stake in Oracle Corporation. As of 2024, Ellison’s wealth is estimated at $135 billion, making him one of the richest people in the world.

5. Mark Zuckerberg ($125 billion)

Mark Zuckerberg is an American technology entrepreneur and philanthropist. He is one of the co-founders, chairman, chief executive officer, and major shareholder of social media giant Facebook (now Metaplatforms). Zuckerberg attended Harvard University and started Facebook from his dorm in 2004 at age 19. The site was originally designed for Harvard students, but quickly expanded to other universities and the general public. Within a few years, Facebook has grown to become the world’s largest social networking platform. Zuckerberg took the company public in 2012 and has since overseen its evolution into a digital giant. Facebook acquired Instagram in 2012 and WhatsApp in 2014. This has significantly expanded its global user base and strengthened its position in mobile technology.

In 2021, Zuckerberg renamed Facebook Meta and shifted the company’s focus to developing the Metaverse. Despite controversies over privacy and the spread of misinformation, Zuckerberg remains one of Silicon Valley’s most influential figures. At just 37 years old, Zuckerberg has amassed a personal fortune of over $125 billion. Although he has pledged to donate 99% of his Facebook stock through the Chan Zuckerberg Initiative, he still retains full control of the company he founded in his dorm room nearly 20 years ago.

The list of the world’s richest people in 2024 is a special club, and potential members should be almost larger-than-life figures, like the top five in this article. Although many people have made their fortunes in tech, luxury goods remain influential, as Bernard Arnault’s rise to number two shows.

These billionaires are at the top of the financial world, but their path to such vast wealth has not been without controversy. Critics point to issues such as tax avoidance, anti-competitive practices and labor rights violations. The gap between the ultra-rich and average citizens is widening. Still, top billionaires wield tremendous power to shape society, and people like Bill Gates are committed to using their wealth for positive change through philanthropy.

Only time will tell whether the next generation will follow suit, or whether global sentiment will shift to curb the influence of billionaires. The exclusive billionaire club shows no signs of shrinking.

However, future prospects depend on many complex factors. Global events, disruptive innovations, and changing societal attitudes are likely to influence who rises to the top in the coming years. One thing is for sure: watching the rise and fall of fortunes at their peak is a fascinating story.