Top Five Richest People in the World 2024

The Forbes Magazine released the list of the World’s Richest people in US Dollars (USD) of the year 2024.

According to the list, which is real-time updated, the total number of billionaires in the world increased from 2,640 last year to 2781 individuals.

Additionally, the total worth of the world’s top ten richest billionaires stood at $1.81 trillion as of December 1, 2024.

Forbes further noted that this was nearly a $106 billion rise from the amount recorded in November.

Notably, the list provided by Forbes, noted a significant change in the rankings as the fortunes of the world’s richest are influenced by the ever-shifting tides of the stock market in the grand tapestry of wealth.

Notably, X and Tesla owner Elon Musk fell into first place, regaining his position having been ranked second at the same time last year due to the drop in Tesla shares.

World’s Richest

The Kenya Times compiled the list of the top 5 richest people in the year 2023 according to Forbes. 

5. Bernard Arnault ($177 B)

Forbes ranked Bernard Arnault as the World’s fifth richest person of the year 2024, a significant drop from the first position which he had been ranked at the same time last year with a $211 billion net worth.

Notably, Arnault is the CEO and Chairman of LVMH Moet Hennessy Louis Vuitton (LVMH).

The business conglomerate orchestrates a symphony of luxury with luxurious fashion and cosmetics brands.

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They include brands like Louis Vuitton, Christian Dior, Givenchy, Fendi and Celine.

A scion of wealth, Arnault’s ascent is also intertwined with his family’s success in the construction business.

4. Larry Ellison ($181 B)

In the realm of technology and innovation, Larry Ellison’s narrative unfolded with the founding of software giant Oracle in 1977.

Ellison is also the chairman and chief technology officer of the software giant, owning less than 40% of the total shares.

Besides overseeing the software giant, Ellison’s life exudes a blend of business brilliance and personal extravagance.

The University of Illinois drop out notably acquired the Hawaiian island of Lanai at a $300 billion cost, moving permanently in 2020.

An investor in Tesla and a former board member, Ellison’s fortunes experienced a surge in 2024.

3. Mark Zuckerberg ($201 B)

Zuckerberg first developed Facebook (now Meta) alongside fellow students Eduardo Saverin, Dustin Moskovitz, and Chris Hughes while attending Harvard University in 2004.

As Facebook began to be used at other universities, Zuckerberg dropped out of Harvard to focus entirely on his growing business.

Today, Mark is the CEO and chair of Meta, with Forbes ranking him as the third wealthiest individual in 2024.

Facebook is the world’s largest social networking service. As the website is free to use, most of the company’s revenue is generated through advertising.

Meta is also host to several other brands, including photo-sharing app Instagram, which it acquired in 2012; cross-platform mobile messaging service WhatsApp; virtual-reality–headset producer Oculus, both acquired in 2014, and Workplace, its enterprise-connectivity platform

2. Jeff Bezos ($209 B)

The titan behind the e-commerce giant Amazon, Jeff Bezos, transitions seamlessly from revolutionizing online retail.

Notably, the second richest parson of the year 2024 founded Amazon in the year 1994 out of his garage in Seattle.

Additionally, also owns aerospace company Blue Origin and The Washington Post.

Stepping down as Amazon’s CEO in 2021, Bezos still remains an influential figure as the company’s chairman.

His journey, marked by a continuous rise in wealth, reflects the symbiotic relationship between Amazon’s success and his personal fortunes.

1. Elon Musk ($263 B)

Perhaps the main change in the rankings, X owner Elon Musk regained his spot as the World’s richest man.

Also Read: Trump Rewards Elon Musk with New Role in His Administration

Elon Musk had been dominating 2023 as the World’s richest person throughout the year before Forbes’ recorded a significant drop in stocks of his electric car manufacturer company Tesla.

Musk who owns about 13% of Tesla between options and stocks, bought social media giant Twitter for $44b in April 2022.

He went on to rebrand the company to X, in which was a major significant change at the company since he took over.

Notably, the American cofounded six companies including tunneling startup Boring Company, Neuralink and rocket producer SpaceX.

Musk’s journey from South Africa to the zenith of corporate innovation is a saga of tenacity and audacity.

According to Forbes, Tesla’s shares soared by nearly 15% in November after President-elect Donald Trump won the U.S. presidential election.

Making up the top ten list of the world’s richest people as of December 2024 are Bill Gates ($158 B), Larry Page ($154 B), Sergey Brin ($145 B), Warren Buffett ($142 B), and Steve Ballmer ($142 B)

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