Forbes has recently published its annual list of billionaires worldwide, revealing a record number of 3,028 individuals on the list this year. This figure marks an increase of 247 from last year, making it the first time the billionaire population has surpassed the 3,000 mark. Collectively, these billionaires possess a staggering fortune of $16.1 trillion, which is $2 trillion more than the previous year. This wealth exceeds the GDP of all countries globally, except for the United States and China.
The top twelve billionaires, according to Forbes, are as follows: Elon Musk ($342 billion), Mark Zuckerberg ($216 billion), Jeff Bezos ($215 billion), Larry Ellison ($192 billion), Bernard Arnault ($178 billion), Warren Buffett ($154 billion), Larry Page ($144 billion), Sergey Brin ($138 billion), Amancio Ortega ($124 billion), Steve Ballmer ($118 billion), Rob Walton ($110 billion), and Jim Walton ($109 billion).
Leading the pack is Elon Musk, whose fortune reaches $342 billion. Musk has co-founded seven companies, including the electric vehicle manufacturer Tesla, the rocket producer SpaceX, and the artificial intelligence startup xAI. Beyond stock options, he owns approximately 12% of Tesla and 42% of SpaceX, which was valued at $350 billion according to a private sale of shares in December 2024. Additionally, Musk holds about 54% of xAI, which was valued at around $50 billion in November 2024, according to private investors. In 2022, he acquired the social media platform X (formerly Twitter) for $44 billion, but according to Forbes, the value of X plummeted by nearly 70% in August 2024. Musk has recently sold X to xAI at a loss.
Mark Zuckerberg, the founder of Facebook, ranks second with a net worth of $216 billion. Zuckerberg established Facebook in 2004 at the young age of 19 and took the company public in 2012. Currently, he owns about 13% of Meta (formerly Facebook), which he renamed in 2021 to emphasize the company's focus on developing a three-dimensional virtual universe known as the "metaverse." In 2015, Zuckerberg and his wife, Priscilla Chan, pledged to donate 99% of their Meta shares to charitable causes.
Jeff Bezos, the founder of Amazon, follows closely in third place with $215 billion. Bezos launched Amazon in 1994 from his garage in Seattle and served as CEO until 2021, when he transitioned to the role of executive chairman. He currently owns less than 10% of Amazon's shares and also has significant investments in the media sector through his ownership of The Washington Post and Blue Origin, a spaceflight company. In 2020, Bezos announced a commitment to donate $10 billion to climate-related initiatives by 2030 via the Bezos Earth Fund, having already contributed $2 billion to date.
In fourth place is Larry Ellison, with a net worth of $192 billion. Ellison is the co-founder and chairman of Oracle, the largest database management company, where he holds about 40% ownership. He stepped down as CEO in 2014 after 37 years with the company and was also a member of Tesla's board of directors from December 2018 to August 2022.
Bernard Arnault, who heads the luxury goods empire LVMH, ranks fifth with $178 billion. LVMH encompasses 75 fashion and cosmetics brands, including Louis Vuitton, Tiffany & Co., and Dior. In July 2022, Arnault proposed transforming his holding company, Agache, into a limited partnership.
Warren Buffett, known as the "Oracle of Omaha," comes in sixth with $154 billion. Buffett is one of the most successful investors of all time, leading Berkshire Hathaway, which owns various companies, including Geico, Duracell, and Dairy Queen. He has pledged to donate over 99% of his wealth and has already given approximately $62 billion, mainly through the Gates Foundation and his children's foundations.
Seventh on the list is Larry Page, with a net worth of $144 billion. Page co-founded Google in 1998 alongside Sergey Brin after they met at Stanford University. He served as CEO of Google from its inception until 2001 and then again from 2011 to 2015. Page also held the CEO position for Alphabet, Google's parent company, until 2019.
Sergey Brin, who co-founded Google with Larry Page, ranks eighth with $138 billion. Brin served as president of Alphabet from 2011 to 2019 and remains a significant shareholder in the company.
Amancio Ortega, the co-founder of Inditex, is ninth with a net worth of $124 billion. Ortega owns about 60% of Inditex, which operates 5,000 stores worldwide, including popular brands like Zara and Massimo Dutti. Since 2022, his daughter, Marta Ortega Pérez, has taken over as president of the company.
Steve Ballmer, the former CEO of Microsoft, occupies the tenth position with $118 billion. Ballmer joined Microsoft in 1980 as the company's 30th employee and led the company from 2000 to 2014. In 2014, he purchased the NBA team Los Angeles Clippers for $2 billion, which is now valued at $4.65 billion, according to Forbes.
Rob Walton, the eldest son of Walmart founder Sam Walton, ranks eleventh with a net worth of approximately $110 billion. Finally, Jim Walton, the youngest son of Sam Walton, rounds out the top twelve billionaires with $109 billion. Jim Walton, who holds about 45% of Walmart's shares with the other heirs, was on Walmart's board for over a decade before passing his seat to his son, Steuart, in 2016. He also serves as president of Arvest Bank Group, which has $26 billion in assets.
This year's Forbes list highlights not only the immense wealth accumulated by these individuals but also their ongoing influence in various industries, from technology to retail and philanthropy.
