As a tax attorney who has spent years navigating the complex world of wealth management and financial regulations, I’ve had a front-row seat to the fascinating dynamics of global wealth accumulation. The list of the world’s richest individuals never fails to captivate me, not just for the staggering numbers involved, but for the intricate tax strategies and financial maneuvers that often underpin these vast fortunes.
In 2024, we’re witnessing a continuation of a trend that has been reshaping the landscape of extreme wealth for the past few decades. The top spots are increasingly dominated by tech moguls and entrepreneurs who have built empires in the digital age.
As someone who often grapples with the tax implications of such immense wealth, I find it particularly intriguing to observe how these individuals have leveraged innovation, market disruption, and, yes, strategic tax planning to amass their fortunes.
Based on data from the Real-Time Billionaires List, let’s explore the top 10 richest people in the world in 2024
1. Elon Musk – $304 billion
Elon Musk, the enigmatic entrepreneur and innovator, continues to hold the title of the world’s richest person in 2024 with a staggering net worth of $304 billion. Born in Pretoria, South Africa, in 1971, Musk has become synonymous with groundbreaking technologies and ambitious ventures that have reshaped multiple industries.
Musk’s wealth primarily stems from his involvement in Tesla, the electric vehicle and clean energy company he has led since 2008. As Tesla’s CEO and largest individual shareholder, Musk has overseen the company’s meteoric rise to become the world’s most valuable automaker. His other major source of wealth is SpaceX, the private space exploration company he founded in 2002, which has revolutionized space travel and satellite deployment.
In addition to these ventures, Musk’s portfolio includes leadership roles in Neuralink, a neurotechnology company, and The Boring Company, which focuses on infrastructure and tunnel construction. His acquisition of X (formerly Twitter) in 2022 further diversified his business interests. Musk’s relentless pursuit of innovation, coupled with his controversial public persona, has made him one of the most influential and talked-about figures in the business world.
2. Larry Ellison – $230.7 billion
According to the Real-Time Billionaires List, Larry Ellison, the co-founder and executive chairman of Oracle Corporation, has solidified his position as the second richest person in the world with a net worth of $230.7 billion in 2024. Born in New York City in 1944, Ellison’s journey to immense wealth is a testament to his entrepreneurial spirit and technological foresight.
Ellison’s fortune is primarily tied to his substantial stake in Oracle, the software giant he co-founded in 1977. Under his leadership, Oracle grew from a small startup to one of the world’s largest and most influential technology companies, specializing in database management systems and cloud computing solutions. His strategic decisions and aggressive business tactics have been instrumental in Oracle’s sustained success.
Beyond Oracle, Ellison has diversified his investments across various sectors. He owns significant real estate holdings, including 98% of the Hawaiian island of Lanai. Ellison is also known for his passion for yachting and has funded America’s Cup sailing teams. His philanthropic efforts, particularly in medical research and education, have further cemented his legacy as a titan of the tech industry.
3. Jeff Bezos – $224.5 billion
Jeff Bezos, the visionary founder of Amazon, ranks as the third wealthiest individual globally in 2024, with a net worth of $224.5 billion. Born in Albuquerque, New Mexico, in 1964, Bezos has redefined e-commerce and cloud computing, leaving an indelible mark on the digital landscape.
The bulk of Bezos’s wealth comes from his stake in Amazon, the company he founded in 1994 as an online bookstore. Under his leadership, Amazon expanded into a global e-commerce powerhouse, diversifying into cloud computing, artificial intelligence, and digital streaming. Although Bezos stepped down as CEO in 2021, he remains executive chairman and continues to play a significant role in the company’s strategic direction.
Bezos’s portfolio extends beyond Amazon. He owns The Washington Post and founded Blue Origin, a space exploration company that reflects his long-standing interest in space travel. His investment firm, Bezos Expeditions, has stakes in various companies across different sectors. Known for his long-term thinking and customer-centric approach, Bezos has also increased his philanthropic activities in recent years, focusing on climate change, education, and homelessness.
4. Mark Zuckerberg – $203.8 billion
Mark Zuckerberg, the co-founder and CEO of Meta (formerly Facebook), has solidified his position as one of the world’s wealthiest individuals with a net worth of $203.8 billion in 2024. Born on May 14, 1984, in White Plains, New York, Zuckerberg’s journey to immense wealth began in his Harvard dorm room, where he created Facebook in 2004.
Under Zuckerberg’s leadership, Facebook has grown from a college networking site to a global social media giant with billions of users. The company’s expansion includes acquisitions of Instagram, WhatsApp, and Oculus VR, forming a powerful social media and technology conglomerate. In 2021, Zuckerberg rebranded the parent company as Meta, signaling a shift towards the development of the metaverse.
Zuckerberg’s wealth primarily stems from his significant stake in Meta, where he holds about 13% of the company’s shares. His net worth has seen dramatic fluctuations over the years, reflecting the volatile nature of tech stocks. Despite facing numerous controversies and challenges, including issues related to user privacy and content moderation, Zuckerberg has maintained his position as one of the most influential figures in the tech industry. He is also known for his philanthropic efforts through the Chan Zuckerberg Initiative, which he founded with his wife, Priscilla Chan, focusing on advancing human potential and promoting equality.
5. Bernard Arnault & family – $164.6 billion
Bernard Arnault, the French business magnate and art collector, leads the luxury goods conglomerate LVMH (Moët Hennessy Louis Vuitton) with a net worth of $164.6 billion in 2024. Born on March 5, 1949, in Roubaix, France, Arnault has built an empire that includes some of the world’s most prestigious luxury brands.
Arnault’s journey to becoming one of the wealthiest individuals globally began when he took over his father’s construction company in 1971. He later shifted focus to luxury goods, acquiring Christian Dior in 1984, which became the foundation for building LVMH. Under his leadership, LVMH has grown to encompass over 75 prestigious brands across various sectors, including fashion, wines and spirits, perfumes and cosmetics, and watches and jewelry.
The majority of Arnault’s wealth comes from his 48% stake in LVMH, which has seen remarkable growth over the years. His business acumen and strategic acquisitions have earned him nicknames such as “The Wolf in Cashmere” and “The Pope of Fashion.” Arnault is known for his hands-on approach to management and his ability to balance tradition with innovation in the luxury sector. Despite recent fluctuations in his net worth due to market volatility, Arnault remains a dominant figure in the global luxury market and continues to expand LVMH’s influence worldwide.
6. Larry Page – $147.7 billion
Larry Page, the co-founder of Google and former CEO of its parent company Alphabet, boasts a net worth of $147.7 billion in 2024. Born on March 26, 1973, in East Lansing, Michigan, Page’s journey to becoming one of the world’s wealthiest individuals is closely tied to the phenomenal success of Google.
Page co-founded Google with Sergey Brin in 1998 while they were Ph.D. students at Stanford University. Their revolutionary PageRank algorithm became the foundation for Google’s search engine, which quickly dominated the internet search market. Under Page’s leadership, first as Google’s CEO and later as CEO of Alphabet, the company expanded far beyond search, venturing into areas such as mobile operating systems (Android), video sharing (YouTube), and cutting-edge technologies like artificial intelligence and self-driving cars.
The bulk of Page’s wealth comes from his significant stake in Alphabet, Google’s parent company. He holds substantial voting power in the company through special voting shares. Page is known for his “moonshot” thinking, encouraging ambitious, potentially world-changing projects. Although he stepped down as CEO of Alphabet in 2019, Page remains a board member and significant shareholder. His wealth has continued to grow, reflecting the ongoing success and innovation of Google and Alphabet’s various ventures. Page is also known for his investments in flying car companies and his interest in renewable energy technologies.
7. Warren Buffett – $145.9 billion
Warren Buffett, often referred to as the “Oracle of Omaha,” has solidified his position as one of the world’s most successful investors with a net worth of $145.9 billion. Born on August 30, 1930, in Omaha, Nebraska, Buffett’s journey to becoming a financial titan began at a young age when he started his first business ventures. His keen interest in investing led him to study under Benjamin Graham at Columbia University, where he honed his value investing philosophy.
Buffett’s wealth primarily stems from his role as the CEO and largest shareholder of Berkshire Hathaway, a conglomerate he transformed from a struggling textile company into a massive holding company with investments in various sectors. His investment strategy, focused on long-term value and identifying undervalued companies, has consistently outperformed the market over decades. Despite his immense wealth, Buffett is known for his frugal lifestyle and his commitment to philanthropy, having pledged to give away the majority of his fortune through the Giving Pledge.
8. Sergey Brin – $141.1 billion
Sergey Brin, the Russian-born American computer scientist and entrepreneur, has amassed a fortune of $141.1 billion through his co-founding of Google and subsequent role in Alphabet Inc. Born on August 21, 1973, in Moscow, Brin immigrated to the United States with his family at the age of six. He met Larry Page while pursuing his Ph.D. in computer science at Stanford University, and together they developed the groundbreaking PageRank algorithm that became the foundation of Google’s search engine.
Brin served as the president of Google’s parent company, Alphabet Inc., until December 2019, but remains a controlling shareholder and board member. His wealth is largely tied to his stake in Alphabet, which has seen tremendous growth due to Google’s dominance in internet search, advertising, and various technological innovations. Beyond his work at Google, Brin has invested in ambitious projects such as artificial intelligence research and space exploration. He is also known for his philanthropic efforts, particularly in the areas of Parkinson’s disease research and support for refugees.
9. Jensen Huang – $128.7 billion
Jensen Huang, the Taiwanese-American entrepreneur and engineer, has seen his net worth soar to $128.7 billion, primarily due to the success of NVIDIA, the company he co-founded in 1993. Born on February 17, 1963, in Tainan, Taiwan, Huang moved to the United States as a child and later earned degrees in electrical engineering from Oregon State University and Stanford University.
Under Huang’s leadership as CEO, NVIDIA has transformed from a graphics chip designer for gaming to a powerhouse in artificial intelligence and high-performance computing. The company’s GPUs have become essential components in data centers, autonomous vehicles, and AI applications. Huang’s visionary approach to technology and his ability to anticipate and capitalize on emerging trends have been key to NVIDIA’s success. His wealth has grown exponentially in recent years as NVIDIA’s stock price has surged, driven by the AI boom and the increasing demand for the company’s advanced chips.
10. Amancio Ortega – $128.5 billion
Amancio Ortega, the Spanish fashion tycoon, has built a retail empire that has led to a net worth of $128.5 billion. Born on March 28, 1936, in Busdongo de Arbás, Spain, Ortega came from humble beginnings and started his career in the textile industry at a young age. In 1975, he co-founded Zara with his ex-wife Rosalía Mera, which would become the flagship brand of his retail conglomerate, Inditex.
Ortega’s success is attributed to his innovative “fast fashion” business model, which revolutionized the clothing retail industry by quickly turning catwalk designs into affordable, mass-market fashion. Inditex, which includes brands such as Zara, Pull&Bear, and Massimo Dutti, has expanded globally under Ortega’s leadership. Despite stepping down as chairman of Inditex in 2011, Ortega remains the company’s largest shareholder. Known for his reclusive nature and modest lifestyle, Ortega has diversified his wealth through significant real estate investments in major cities worldwide.
