Billionaires wield significant influence over the global economy, politics, and philanthropy, with Forbes reporting a total of 2,640 billionaires worldwide in 2023. Topping the list is Elon Musk, the CEO of Tesla and SpaceX, and owner of X (formerly Twitter).
These individuals, often founders of technology behemoths, hold substantial wealth, a considerable portion of which is tied up in the companies they founded. Despite their enormous fortunes, many billionaires employ financial strategies such as borrowing against their wealth to defer taxes on unrealized capital gains and leveraging tax deductions to offset reported income, resulting in some paying little to no income tax in recent years.
The net worth of the richest fluctuates alongside the market valuations of their companies. As of February 1, 2024, according to the Bloomberg Billionaires Index, here are the top 10 wealthiest individuals:
- Elon Musk
- Age: 52
- Residence: United States
- CEO: Tesla
- Net Worth: $202 billion
- Tesla Ownership Stake: 13% ($77 billion)
- X Ownership Stake: 79% ($8.37 billion)
- Other Assets: Space Exploration Technologies ($71.2 billion private asset), The Boring Company ($3.33 billion private asset)
Born in South Africa, Elon Musk’s journey to becoming the world’s richest man involves ventures such as Zip2 and X.com, which later became PayPal. He became a major funder of Tesla in 2004 and is also the CEO of Space Exploration Technologies (SpaceX).
Musk’s wealth reached its zenith in January 2021 when Tesla joined the S&P 500. Despite facing challenges such as a proposed buyout of X and legal disputes, Musk remains at the forefront of the global wealth rankings.
- Bernard Arnault
- Age: 74
- Residence: France
- CEO and Chair: LVMH (LVMUY)
- Net Worth: $183 billion
- Christian Dior Ownership Stake: 97.5% ($140 billion total)
- Other Assets: Moelis & Company equity ($28.4 billion public asset), $14.8 billion in cash
As the chair and CEO of LVMH, Bernard Arnault is the driving force behind the world’s largest luxury goods company. His wealth primarily stems from his significant stake in Christian Dior SE, which controls 41.4% of LVMH.
Arnault’s influence extends to various sectors, making him a prominent figure in the global business landscape.
- Jeff Bezos
- Age: 60
- Residence: United States
- Founder: Amazon
- Net Worth: $146 billion
- Amazon Ownership Stake: 10% ($139 billion total)
- Other Assets: Blue Origin, The Washington Post
A pioneer in e-commerce, Jeff Bezos founded Amazon in 1994, transforming it into the world’s largest online retailer. His ventures also include aerospace company Blue Origin and owning The Washington Post.
Bezos’ net worth peaked at $213 billion in July 2021, and his diverse projects, including a superyacht purchase and Blue Origin’s successful crewed flight, showcase his wide-ranging interests.
- Bill Gates
- Age: 68
- Residence: United States
- Co-founder: Microsoft (MSFT)
- Net Worth: $144 billion
- Microsoft Ownership Stake: 1.4% ($25.7 billion)
- Other Assets: Diverse holdings, $69.1 billion in cash
A Harvard dropout, Bill Gates co-founded Microsoft in 1975, propelling him to the forefront of the software industry. As a philanthropist, Gates has donated billions to various causes, partnering with the Bill & Melinda Gates Foundation.
Gates’ fortune, invested in Cascade Investment LLC and diverse holdings, demonstrates his enduring influence in the technology and philanthropic spheres.
- Mark Zuckerberg
- Age: 39
- Residence: United States
- CEO and Chair: Meta Platforms (META)
- Net Worth: $141 billion
- Meta Platforms Ownership Stake: 13% ($136 billion total)
- Other Assets: $4.35 billion in cash
The brain behind Facebook (now Meta), Mark Zuckerberg co-founded the social networking giant while at Harvard in 2004. Meta’s evolution includes acquisitions like Instagram and WhatsApp, consolidating its position as a tech powerhouse.
Zuckerberg’s wealth, diversified into various assets, reflects his role in shaping the digital landscape and his commitment to philanthropy through the Chan Zuckerberg Initiative.
- Steve Ballmer
- Age: 67
- Residence: United States
- Owner: Los Angeles Clippers
- Net Worth: $138 billion
- Microsoft Ownership Stake: 4% ($127 billion total)
- Other Assets: Los Angeles Clippers, The Forum, Intuit Dome, $3.80 billion in cash
Steve Ballmer, the former Microsoft CEO, joined the company in 1980 and later purchased the Los Angeles Clippers for $2 billion in 2014. As a Microsoft shareholder, his fortune is tied to the company’s success, making him its largest individual shareholder.
Ballmer’s ownership of the Clippers and other ventures reflects his diverse interests beyond the tech industry.
- Warren Buffett
- Age: 93
- Residence: United States
- CEO: Berkshire Hathaway (BRK.A)
- Net Worth: $128 billion
- Berkshire Hathaway Ownership Stake: 15% ($126 billion)
- Other Assets: $1.38 billion in cash
Known as the Oracle of Omaha, Warren Buffett is a legendary investor who acquired Berkshire Hathaway in 1962. Renowned for his long-term investment strategy, Buffett’s fortune comes from a diverse range of investments, including well-known companies and wholly-owned subsidiaries.
Buffett’s philanthropic efforts, exemplified by the Giving Pledge, showcase his commitment to giving back to society.
- Larry Page
- Age: 50
- Residence: United States
- Co-founder and Board Member: Alphabet (GOOG)
- Net Worth: $127 billion
- Alphabet Ownership Stake: 6% ($109.8 billion total)
- Other Assets: $17.4 billion in cash
Larry Page co-founded Google with Sergey Brin in 1998, revolutionizing internet search. As Alphabet’s co-founder, Page contributed to the company’s expansion into various ventures, including Android and YouTube.
Page’s investments in space exploration, flying car companies, and his significant Alphabet stake reflect his diverse interests in technology and innovation.
- Larry Ellison
- Age: 79
- Residence: United States
- Co-founder, Chair, and CTO: Oracle (ORCL)
- Net Worth: $126 billion
- Oracle Ownership Stake: 42%+ ($93.7 billion)
- Other Assets: Tesla equity, $23.6 billion in cash
Larry Ellison co-founded Oracle in 1977, leading the company to become the world’s second-largest software company. With a substantial stake in Oracle, Ellison’s wealth is deeply tied to the company’s success.
Ellison’s forays into philanthropy and involvement in sailing showcase his diverse pursuits beyond the tech industry.
- Sergey Brin
- Age: 50
- Residence: United States
- Co-founder and Board Member: Alphabet (GOOG)
- Net Worth: $121 billion
- Alphabet Ownership Stake: 6% ($103.2 billion total)
- Other Assets: $17.5 billion in cash
Sergey Brin, a co-founder of Google, has been pivotal in shaping the landscape of online search and digital services. As a key figure at Alphabet, Brin contributed to the company’s diverse portfolio, including Google Workspace and various electronic devices.
Brin’s philanthropic endeavors in Parkinson’s disease research highlight his commitment to addressing societal challenges.
These top 10 billionaires not only dominate the global wealth rankings but also play crucial roles in shaping industries, driving innovation, and influencing societal change. Their stories reflect a mix of entrepreneurial spirit, strategic investments, and, in many cases, a dedication to philanthropy.
