French entrepreneur Bernard Arnault has been declared the wealthiest individual globally, as per the Forbes World’s Billionaires List 2024. Arnault presides over the LVMH conglomerate, which encompasses 75 renowned fashion and cosmetics brands, such as Louis Vuitton and Sephora. His net worth stands at $233 billion as of March 8, 2024. Following Arnault is Tesla CEO Elon Musk, with a net worth of $195 billion. Musk, who co-founded six companies including Tesla, SpaceX, and the Boring Company, holds the second position.
Amazon founder Jeff Bezos holds the third spot on the list with a net worth of $194 billion, while Meta's Mark Zuckerberg secures the fourth position with a net worth of $177 billion. Microsoft co-founder Bill Gates ranks as the seventh richest person, while India’s Mukesh Ambani occupies the ninth position with a net worth of $116 billion.
The number of billionaires has reached an all-time high, totaling 2,781 individuals, which is 141 more than the previous year and 26 more than the record set in 2021. Their collective wealth amounts to $14.2 trillion, an increase of $2 trillion from 2023 and $1.1 trillion above the previous record set in 2021. Two-thirds of the list's members have seen an increase in their wealth compared to the previous year, with only one fourth experiencing a decline. The top 20 billionaires have collectively added $700 billion in wealth since 2023. The United States now boasts a record 813 billionaires, collectively worth $5.7 trillion.
Despite challenges such as weak consumer spending and a real estate downturn that has led to a loss of approximately $300 billion in wealth, China remains in second place with 473 billionaires (including Hong Kong), worth $1.7 trillion. India, which has 200 billionaires, also a record, ranks third.
