As a business student, I’ve always been fascinated by the titans of industry who shape our world. Their stories of innovation, perseverance, and astronomical wealth never fail to captivate me. That’s why I’m thrilled to dive into the latest rankings of the world’s wealthiest individuals for 2024.
This list isn’t just about mind-boggling numbers; it’s a testament to the power of entrepreneurship and the ever-evolving landscape of global business. From tech visionaries to retail magnates, these billionaires represent diverse industries and backgrounds, each with a unique journey to the top.
As I study business principles and dream of my own future ventures, I find myself constantly inspired by these individuals. Their successes (and sometimes failures) offer valuable lessons in strategy, innovation, and leadership. Whether it’s Elon Musk’s relentless pursuit of groundbreaking technologies or Warren Buffett’s timeless investment wisdom, there’s so much to learn from these financial juggernauts.
Based on data from the Real-Time Billionaires List, let’s explore the net worth and stories behind the top 10 richest people in the world in 2024.
1. Elon Musk – $269.8 billion
Elon Musk, born in 1971 in Pretoria, South Africa, is currently the wealthiest person in the world with a net worth of $269.8 billion. Musk is best known as the CEO of electric vehicle company Tesla and private space exploration company SpaceX.
Musk showed an early aptitude for technology, creating and selling a video game at age 12. After moving to North America for university, he co-founded web software company Zip2, which was acquired for nearly $300 million in 1999. He then co-founded online payment company X.com, which later became PayPal and was sold to eBay for $1.5 billion in 2002.
In 2004, Musk became an early investor in Tesla Motors, eventually taking over as CEO in 2008. Under his leadership, Tesla has become the world’s most valuable automaker. Musk founded SpaceX in 2002 with the goal of reducing space transportation costs and enabling the colonization of Mars.
In addition to Tesla and SpaceX, Musk acquired Twitter (now X) for $44 billion in 2022. His other ventures include Neuralink, which is developing brain-computer interfaces, and The Boring Company, focused on tunnel construction.
2. Larry Ellison – $206.2 billion
Larry Ellison, with a net worth of $206.2 billion, is the co-founder, executive chairman and chief technology officer of software giant Oracle.
Born in 1944 in New York City, Ellison was adopted and raised in Chicago. He dropped out of the University of Illinois and the University of Chicago before moving to California to work as a computer programmer.
In 1977, Ellison co-founded Software Development Laboratories, which later became Oracle Corporation. Under his leadership, Oracle grew from a startup with three programmers into the largest database software supplier and second-largest supplier of business applications globally.
Ellison served as Oracle’s CEO until 2014, when he stepped down to become executive chairman and CTO. He has been instrumental in Oracle’s growth through both product development and strategic acquisitions, including the purchase of Sun Microsystems for $7.4 billion in 2009.
Outside of Oracle, Ellison is known for his lavish lifestyle, including owning 98% of the Hawaiian island of Lanai. He has also pledged to give away at least 95% of his wealth to charitable causes.
3. Jeff Bezos – $205.8 billion
According to the Real-Time Billionaires List, Jeff Bezos, founder and executive chair of Amazon, has a net worth of $205.8 billion. Born in 1964 in Albuquerque, New Mexico, Bezos showed an early interest in computers and graduated from Princeton University with degrees in electrical engineering and computer science.
After working on Wall Street, Bezos founded Amazon.com in 1994 as an online bookstore. Under his leadership, Amazon expanded into a wide array of products and services, becoming the world’s largest e-commerce company. Bezos served as CEO until 2021, when he transitioned to the role of executive chair.
In addition to Amazon, Bezos owns The Washington Post, which he purchased in 2013 for $250 million. He also founded Blue Origin, a space exploration company, in 2000 with the goal of making space travel more accessible.
Bezos has been recognized for his business acumen, being named Time’s Person of the Year in 1999 and consistently ranking among the world’s wealthiest individuals. He has also pledged billions to philanthropic causes, including climate change initiatives and education.
4. Bernard Arnault & family – $199.5 billion
Bernard Arnault is the chairman and CEO of LVMH (Moët Hennessy Louis Vuitton), the world’s largest luxury goods company. Born in 1949 in Roubaix, France, Arnault began his career working for his father’s construction company.
In 1984, Arnault acquired Financière Agache, a luxury goods company, and became its CEO. He then led the acquisition of Christian Dior and eventually gained control of LVMH in 1989. Under his leadership, LVMH has grown to include over 75 prestigious brands such as Louis Vuitton, Hennessy, Bulgari, and Tiffany & Co.
Arnault’s net worth is primarily tied to his 48.6% stake in LVMH, which accounts for about 96.23% of his total wealth. He is known for his strategic acquisitions and ability to revitalize heritage brands. Arnault is also an art collector and owns works by Picasso, Warhol, and other renowned artists.
5. Mark Zuckerberg – $196.3 billion
Mark Zuckerberg is the co-founder, chairman, and CEO of Meta Platforms (formerly Facebook). Born in 1984 in White Plains, New York, Zuckerberg showed an early aptitude for computer programming.
Zuckerberg launched Facebook from his Harvard dorm room in 2004. The social network quickly expanded to other universities, prompting him to drop out and move to Silicon Valley. Under his leadership, Facebook has grown into a tech giant with billions of users across its platforms, including Instagram and WhatsApp.
The majority of Zuckerberg’s fortune comes from his approximately 13% stake in Meta Platforms. He has pledged to give away 99% of his Meta shares over his lifetime to charitable causes through the Chan Zuckerberg Initiative, which he founded with his wife, Priscilla Chan.
6. Warren Buffett – $143.9 billion
Warren Buffett, known as the “Oracle of Omaha,” is one of the most successful investors in history. Born in 1930 in Omaha, Nebraska, Buffett showed an early interest in business and investing, buying his first stock at age 11.
Buffett runs Berkshire Hathaway, a conglomerate that owns a diverse portfolio of businesses including GEICO, Duracell, and Dairy Queen. He took control of Berkshire in 1965 when it was a struggling textile company and transformed it into a massive holding company.
Buffett’s investment philosophy focuses on value investing – buying undervalued companies with strong long-term prospects. His largest holdings include Apple, Bank of America, and Coca-Cola. Despite his immense wealth, Buffett is known for his frugal lifestyle, still living in the same Omaha home he purchased in 1958 for $31,500.
A renowned philanthropist, Buffett has pledged to give away more than 99% of his wealth to charitable causes. He co-founded The Giving Pledge with Bill and Melinda Gates, encouraging billionaires to donate the majority of their wealth to philanthropy.
7. Bill Gates – $138.6 billion
Bill Gates, co-founder of Microsoft, is one of the most recognizable figures in the tech industry. Born in 1955 in Seattle, Washington, Gates showed an early interest in computers and programming.
In 1975, Gates dropped out of Harvard to co-found Microsoft with childhood friend Paul Allen. Under his leadership, Microsoft became the world’s largest personal computer software company. Gates served as CEO until 2000 and remained chairman until 2014.
While much of Gates’ wealth still comes from his Microsoft shares, he has diversified his portfolio through Cascade Investment, his private investment firm. Gates is also known for his philanthropic efforts through the Bill & Melinda Gates Foundation, which focuses on global health, education, and poverty reduction.
8. Larry Page – $136.4 billion
Larry Page is the co-founder of Google and former CEO of its parent company, Alphabet Inc. Born in 1973 in East Lansing, Michigan, Page developed an interest in computers at an early age, influenced by his father’s computer science professor career.
Page met Sergey Brin at Stanford University while pursuing his Ph.D. in computer science. Together, they developed the idea for Google, founding the company in 1998. Page served as Google’s CEO from 2011 to 2015 and as CEO of Alphabet from 2015 to 2019.
Most of Page’s wealth comes from his stake in Alphabet. He has also invested in flying car companies and is funding research into flu vaccine development. Page is known for his interest in technological innovation and has been a driving force behind many of Google’s ambitious projects.
9. Amancio Ortega – $133.4 billion
Amancio Ortega is the founder and former chairman of Inditex, the world’s largest fashion retailer. Born in 1936 in Busdongo de Arbás, Spain, Ortega came from humble beginnings and started working in a shirt shop at age 14.
In 1975, Ortega opened the first Zara store with his then-wife Rosalía Mera. This marked the beginning of Inditex, which now owns several fashion brands including Zara, Pull&Bear, and Massimo Dutti. Ortega stepped down as chairman of Inditex in 2011 but still owns about 59% of the company.
Known for his frugal lifestyle and privacy, Ortega rarely gives interviews. He has diversified his wealth through real estate investments in major cities worldwide and has a stake in Spain’s energy infrastructure.
10. Sergey Brin – $130.6 billion
Sergey Brin is the co-founder of Google and former president of its parent company, Alphabet Inc. Born in 1973 in Moscow, Russia, Brin immigrated to the United States with his family at the age of six.
Brin met Larry Page at Stanford University while pursuing his Ph.D. in computer science. Together, they developed Google’s search engine and co-founded the company in 1998. Brin served as the president of technology at Google and later as president of Alphabet until 2019.
Like Page, most of Brin’s wealth comes from his stake in Alphabet. He has shown interest in various technological advancements, including Google Glass and the company’s self-driving car project. Brin has also invested in private space exploration and synthetic meat companies.
Both Page and Brin remain board members of Alphabet and retain majority voting control of the company through super-voting shares. They are known for their “Don’t be evil” motto and their efforts to use technology to address global challenges.
