Billionaires wield immense influence over the global economy, politics, and philanthropy. According to Forbes, there were 2,781 billionaires worldwide in 2024, with Bernard Arnault, the chairman of LVMH, sitting atop the wealth pyramid.
1. Bernard Arnault
- Age: 75
- Residence: France
- CEO and Chair: LVMH (LVMUY)
- Net Worth: $215 billion
- LVMH Ownership Stake: 48% ($199 billion)
- Other Assets: $16.5 billion in cash5
- French national Bernard Arnault is the chair and CEO of LVMH, the world’s largest luxury goods company. LVMH brands include Louis Vuitton, Hennessey, Marc Jacobs, and Sephora.6LVMH. “Houses.”
These individuals belong to an elite circle, many of whom founded tech behemoths and retain significant stakes in their ventures. Despite their fortunes being tied to company shares, they can leverage their wealth to defer taxes on unrealized capital gains and exploit various deductions to minimize reported income, sometimes resulting in negligible income tax payments.
The net worth of these magnates, heavily invested in publicly traded stocks, fluctuates with market valuations. As of May 2, 2024, the Bloomberg Billionaires Index listed the top 10 wealthiest individuals globally, led by Bernard Arnault with a staggering net worth of $215 billion.
Arnault, a French national, steers LVMH, the world’s largest luxury goods conglomerate, boasting iconic brands like Louis Vuitton and Sephora. His journey from managing his father’s construction firm to transforming LVMH into a luxury powerhouse underscores his business acumen and strategic vision.
2. Jeff Bezos
- Age: 60
- Residence: United States
- Founder and Executive Chair: Amazon (AMZN)
- Net Worth: $201 billion
- Amazon Ownership Stake: 9% ($168 billion)
- Other Assets: Blue Origin ($15 billion private asset), The Washington Post ($250 million private asset), Koru ($500 million private asset), and $17.7 billion in cash9
Jeff Bezos, the founder of Amazon, follows Arnault on the wealth ladder with a net worth of $201 billion. Bezos’ entrepreneurial journey started in a garage, evolving Amazon from an online bookstore to a retail colossus that disrupted industries and diversified into various sectors, including cloud computing and entertainment.
3. Elon Musk
- Age: 52
- Residence: United States
- Co-founder and CEO: Tesla
- Net Worth: $191 billion
- Tesla Ownership Stake: 13% ($74 billion)
- X Ownership Stake: 79% ($7.09 billion)
- Other Assets: Space Exploration Technologies ($71.2 billion private asset), The Boring Company ($3.33 billion private asset), Neuralink ($2.07 billion private asset)20Bloomberg. “Elon Musk.”
Elon Musk, with a net worth of $191 billion, epitomizes innovation and disruption. From co-founding Tesla and spearheading the electric vehicle revolution to pioneering private space exploration through SpaceX, Musk’s ventures redefine industries and push technological boundaries.
4. Mark Zuckerberg
- Age: 39
- Residence: United States
- CEO and Chair: Meta Platforms (META)
- Net Worth: $156 billion
- Meta Platforms Ownership Stake: 13% ($152 billion total)
- Other Assets: $4.70 billion in cash28
In 2004, Mark Zuckerberg, alongside Harvard classmates Eduardo Saverin, Dustin Moskovitz, and Chris Hughes, conceived Facebook, now known as Meta. Initially a platform for Harvard students, Facebook’s popularity swiftly spread to other universities. Zuckerberg’s dedication to the burgeoning enterprise led him to forsake his Harvard studies and concentrate entirely on its development. Fast forward to the present day, Zuckerberg assumes the roles of CEO and chair at Meta, a digital realm boasting an impressive 3 billion monthly active users as of Q2 2023.
Facebook, renowned as the globe’s premier social networking service, primarily sustains itself through advertising revenue, owing to its free-to-use model.
Under the Meta umbrella, several prominent brands thrive. Notable among them is Instagram, a popular photo-sharing app acquired in 2012. Additionally, Meta boasts WhatsApp, a cross-platform mobile messaging service, and Oculus, a leading producer of virtual reality headsets, both integrated into its portfolio in 2014. Further enhancing its offerings are Workplace, an enterprise-connectivity platform, and Portal, a line of innovative video-calling devices.
In 2015, Mark Zuckerberg and his wife, Priscilla Chan, embarked on a philanthropic journey by founding the Chan Zuckerberg Initiative. This initiative, where both serve as co-CEOs, harnesses technology to tackle societal challenges. Their focus areas encompass improving education accessibility and quality, reforming criminal justice and immigration systems, enhancing housing affordability, and ultimately striving for the eradication of all diseases.
5. Bill Gates
- Age: 68
- Residence: United States
- Co-founder: Microsoft (MSFT)
- Net Worth: $148 billion
- Microsoft Ownership Stake: 1.4% ($25.5 billion)
- Other Assets: $70.9 billion in cash and billions over multiple other companies
In 1975, during his time at Harvard University, Bill Gates collaborated with his childhood friend Paul Allen to pioneer new software for the nascent microcomputers. Their venture proved immensely successful, prompting Gates to depart from Harvard during his junior year and co-found Microsoft alongside Allen.
Microsoft, now the largest software company globally, boasts a diverse product lineup. In addition to its renowned operating systems and software suites, Microsoft manufactures a range of personal computers and offers email services through its exchange server. Moreover, the company is a prominent player in the gaming industry, producing video game systems and associated devices. Notably, Microsoft has made substantial investments in cloud services, reflecting its commitment to technological innovation and expansion into new markets.
6. Larry Page
- Age: 51
- Residence: United States
- Co-founder and Board Member: Alphabet (GOOG)
- Net Worth: $146 billion
- Alphabet Ownership Stake: 6% ($128.3 billion total)
- Other Assets: $17.8 billion in cash
In the annals of tech entrepreneurship, Larry Page’s journey to prominence mirrors that of several other luminaries—he began his ascent to fame and fortune from the confines of a college dorm room. While enrolled at Stanford University in 1995, Page, along with his close friend Sergey Brin, conceived the notion of enhancing internet data extraction. This brainchild culminated in the development of a groundbreaking search engine technology they christened Backrub, owing to its adeptness at assessing page links.
This initial spark ignited a fire, propelling Page and Brin to establish Google in 1998. Page assumed the role of CEO, steering the company’s trajectory until 2001, and later reclaiming the helm from 2011 to 2019. Their visionary approach to information retrieval revolutionized the digital landscape, shaping Google into an indomitable force in the realm of technology and innovation.
Google stands as the preeminent force in internet search, commanding over 92% of global search requests. In a strategic move to expand its digital empire, Google acquired YouTube in 2006, solidifying its dominance as the leading platform for user-generated videos.
In a parallel endeavor to revolutionize the mobile landscape, Google procured Android in 2005, paving the way for the release of the Android mobile phone operating system in 2008. This pivotal move propelled Google into the forefront of the mobile technology arena.
A significant corporate restructuring occurred in 2015 when Google underwent a transformation, emerging as a subsidiary of Alphabet, a holding company overseeing a diverse portfolio of ventures.
Beyond terrestrial endeavors, Larry Page’s visionary investments extend to the realm of space exploration. Page was an early supporter of Planetary Resources, a pioneering space exploration and asteroid-mining venture founded in 2009. However, the company faced financial challenges and was eventually acquired by blockchain firm ConsenSys in 2018. Page’s futuristic pursuits also encompass an interest in flying car technology, demonstrated through investments in companies like Kitty Hawk and Opener, despite the former ceasing operations in 2022.
7. Sergey Brin
- Age: 50
- Residence: United States
- Co-founder and Board Member: Alphabet (GOOG)
- Net Worth: $139 billion
- Alphabet Ownership Stake: 6% ($120.8 billion total)
- Other Assets: $17.9 billion in cash
Sergey Brin’s journey to tech stardom began in Moscow, Russia, where he was born. In 1979, at the age of six, Brin and his family immigrated to the United States, setting the stage for his remarkable trajectory.
In 1998, Brin joined forces with Larry Page to co-found Google, laying the groundwork for what would become one of the most influential companies in the world. With the ascent of Eric Schmidt to the role of CEO in 2001, Brin assumed the mantle of Google’s president of technology, guiding the company’s technological endeavors with his innovative vision.
Following the establishment of Alphabet as Google’s parent company in 2015, Brin continued to play a pivotal role, serving as president of technology at the conglomerate. However, in 2019, he made the decision to step down from this position as Sundar Pichai assumed the role of CEO, marking a transition in leadership for both Google and Alphabet.
8. Steve Ballmer
- Age: 68
- Residence: United States
- Owner: Los Angeles Clippers
- Net Worth: $137 billion
- Microsoft Ownership Stake: 4% ($126 billion total)
- Other Assets: Los Angeles Clippers ($4.56 billion private asset), The Forum ($400 million private asset), Intuit Dome ($2 billion private asset), $4.03 billion in cash
Steve Ballmer’s tenure at Microsoft is a testament to his significant impact on the company’s evolution. Entering the scene in 1980 at the persuasion of Bill Gates, Ballmer became Microsoft’s 30th employee, setting the stage for his remarkable journey within the tech giant.
His rise within the company culminated in his appointment as CEO in 2000, succeeding Gates himself. Over the course of his leadership, Ballmer spearheaded pivotal initiatives, including Microsoft’s notable acquisition of Skype for $8.5 billion in 2011, positioning the company for further expansion in the digital communication landscape.
Ballmer’s association with Microsoft extended beyond his executive role; as the company’s largest individual shareholder, owning an estimated 4% stake, he maintained a vested interest in its success. Following his departure as CEO in 2014, Ballmer shifted gears, delving into the world of sports ownership by purchasing the Los Angeles Clippers basketball team for a staggering $2 billion.
However, his tenure as CEO wasn’t without its challenges. A strain emerged in his relationship with Gates, his former dorm mate at Harvard, particularly regarding strategic direction. Ballmer’s push towards hardware ventures like the Surface tablet and Windows mobile phone led to tensions, highlighting differing visions for Microsoft’s future direction.
Despite these challenges, Ballmer’s imprint on Microsoft’s trajectory remains indelible, marking a chapter in the company’s history characterized by innovation, growth, and strategic diversification.
9. Warren Buffett
- Age: 93
- Residence: United States
- CEO: Berkshire Hathaway (BRK.A)
- Net Worth: $132 billion
- Berkshire Hathaway Ownership Stake: 15% ($130 billion)63
- Other Assets: $1.40 billion in cash
Warren Buffett’s journey to becoming the most renowned value investor of our time began at a remarkably young age. Filing his inaugural tax return at just 14, Buffett disclosed earnings from his childhood paper route in 1944, laying the groundwork for a lifetime of financial acumen.
In 1962, Buffett made his initial foray into the world of investing by purchasing shares in Berkshire Hathaway, a textile company. By 1965, he had ascended to majority shareholder status, catalyzing a transformation of Berkshire Hathaway into a diversified conglomerate.
Affectionately dubbed the Oracle of Omaha, Buffett’s investment philosophy revolves around acquiring undervalued companies and holding onto them for the long term. Over the years, Berkshire Hathaway’s portfolio has expanded to encompass a diverse array of wholly owned subsidiaries, spanning industries such as insurance, energy distribution, railroads, and consumer products.
Despite his legendary status in the investment realm, Buffett remains skeptical of emerging trends like Bitcoin, staying true to his time-tested principles.
Moreover, Buffett’s philanthropic endeavors have left an indelible mark on society. Between 2006 and 2020, he magnanimously donated $41 billion, with a significant portion directed towards the Bill & Melinda Gates Foundation and various children’s charities. In 2010, Buffett joined forces with Bill Gates to launch the Giving Pledge, encouraging fellow billionaires to commit to philanthropy.
As Buffett, now 93, continues to steer the ship as CEO of Berkshire Hathaway, he has hinted at a succession plan, with Gregory Abel, head of the company’s non-insurance operations, emerging as a likely successor, marking a transition for one of the most iconic figures in the world of finance.
0. Larry Ellison
- Age: 79
- Residence: United States
- Co-founder, Chair, and CTO: Oracle (ORCL)
- Net Worth: $129 billion
- Oracle Ownership Stake: 42%+ ($96.1 billion)
- Other Assets: Tesla equity ($8.10 billion public asset), $24.5 billion in cash
Larry Ellison’s remarkable journey from humble beginnings to tech titan status is a testament to his entrepreneurial spirit and ingenuity. Born in New York City to a young single mother, Ellison’s early years were marked by adversity. However, his determination and talent propelled him forward.
After departing the University of Chicago in 1966, Ellison charted a course to California, where he immersed himself in the burgeoning field of computer programming. His career trajectory took a significant turn in 1973 when he joined Ampex, an electronics company, where he crossed paths with future collaborators Ed Oates and Bob Miner. This pivotal encounter set the stage for Ellison’s entrepreneurial endeavors.
In 1977, Ellison, along with Oates and Miner, founded Software Development Laboratories, laying the groundwork for what would later become Oracle. The release of Oracle in 1979 marked a watershed moment in the tech industry, as it introduced the world to the first commercial relational database program utilizing Structured Query Language (SQL). The overwhelming success of Oracle propelled the company to new heights, prompting a rebranding to Oracle Systems Corporation in 1982.
Ellison’s visionary leadership guided Oracle’s evolution into the world’s second-largest software company, renowned for its expansive suite of cloud computing programs, Java and Linux code, and the Oracle Exadata computing platform. Through strategic acquisitions, including Sun Microsystems and Cerner, Oracle solidified its position as an industry leader.
Beyond his professional pursuits, Ellison has demonstrated a commitment to philanthropy, particularly in the realm of medical research. His generous donation of $200 million to the University of Southern California in 2016 exemplifies his dedication to advancing healthcare initiatives. Additionally, Ellison’s support for the Oracle Team USA sailing team underscored his passion for sports and innovation.
As Ellison continues to leave an indelible mark on the tech landscape, his legacy serves as an inspiration to aspiring entrepreneurs and philanthropists alike, embodying the transformative power of vision, perseverance, and generosity.
Who Are the Top 10 Richest People in the World?
The top 10 richest people in the world as of May 2, 2024, are:
- Bernard Arnault
- Jeff Bezos
- Elon Musk
- Mark Zuckerberg
- Bill Gates
- Larry Page
- Sergey Brin
- Steve Ballmer
- Warren Buffett
- Larry Ellison
For Top News and Stories every day, Join our TELEGRAM channel today.
