Tech Titans Break Wealth Records in 2024 while 50 Richest Reach $10 Trillion

In a historic year for global wealth, the world’s 500 richest individuals saw their collective net worth soar to an astonishing $10 trillion in 2024. This figure, comparable to the combined GDPs of Germany, Japan, and Australia in 2023, underscores the magnitude of their fortunes, as revealed by World Bank data.

The explosive growth of US technology stocks emerged as a key driver of this financial milestone, fueling unprecedented gains for industry giants like Larry Ellison, Jeff Bezos, Michael Dell, and Google co-founders Larry Page and Sergey Brin. A staggering $600 billion of the $1.5 trillion increase in wealth among the top 500 came from just eight tech magnates.

Elon Musk, however, stood apart as the year’s standout wealth accumulator. Sources noted that his strong rapport with the incoming president contributed to skyrocketing valuations of Tesla, SpaceX, and xAI, propelling his fortune to an unmatched $442.1 billion—an increase of $213 billion since January.

The wealth gap between Musk and Jeff Bezos on December 17, 2024, reached an unprecedented $237 billion, marking the largest disparity ever recorded between the first and second positions on the World’s Wealthiest list.

Tech’s dominance in reshaping the economic landscape has never been more evident, setting a new benchmark for billionaire fortunes.

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