The global population of billionaires continues to grow, with a record 2,781 members on Forbes’ 2024 World’s Billionaires list from 78 countries or territories. The wealthiest individual on the list is French citizen Bernard Arnault, with an estimated net worth of $233 billion, primarily from his conglomerate LVMH, which owns luxury brands like Louis Vuitton and Christian Dior. The United States leads in the number of billionaires, with 813 individuals, including Elon Musk, the richest American with an estimated net worth of $195 billion. China and India follow closely, with 473 and 200 billionaires respectively, including India’s Mukesh Ambani, the only member of the $100 Billion Club from Asia.
Luxembourg has seen the emergence of new billionaires, including Michael Gans, who made his fortune in the logistics industry supplying the U.S. Army in Afghanistan. New billionaire additions also include individuals from Croatia and Uruguay, while countries like Peru and Macau dropped off the list this year. The Asia-Pacific region boasts the highest number of billionaires, with 1,000 individuals, followed by the Americas (993), Europe (690), and the Middle East & Africa (98).
The list showcases the richest citizen from each country, with notable names like Gina Rinehart from Australia, Carlos Slim Helu from Mexico, and Amancio Ortega from Spain. The diversity of industries in which these billionaires have amassed their wealth is evident, ranging from technology and retail to mining and finance. Some individuals, like David Thomson from Canada and Giovanni Ferrero from Italy, have inherited their wealth, while others, such as Mukesh Ambani from India and Eyal Ofer from Israel, have built their fortunes through diverse business ventures.
The variability in the ages, sources of wealth, and industries represented among the world’s billionaires highlights the global nature of wealth creation. From shipping magnates in Switzerland to entrepreneurs in Vietnam, the list showcases the vast wealth distribution across different regions and industries. As the number of billionaires continues to rise, the Forbes list serves as a reminder of the ongoing growth and concentration of wealth around the world. With individuals like Elon Musk and Bernard Arnault leading the pack, it is clear that fortunes are being made and grown at an unprecedented rate, shaping the global economic landscape.
