Global Billionaire Wealth Reaches New Heights in 2024, Driven by Tech and China’s Recovery

Billionaire wealth worldwide surged to unprecedented levels in 2024, with the collective fortunes of the globe’s 500 wealthiest individuals increasing by $1.5 trillion to approximately $10 trillion. The rise marked the end of a three-year decline, with significant contributions from the tech sector and China’s recovering economy.

Elon Musk retained his position as the world’s richest individual with a net worth of $432 billion, followed by prominent figures such as Jeff Bezos, Mark Zuckerberg, Larry Ellison, and Bernard Arnault. Tech executives were a driving force behind the surge, with Nvidia CEO Jensen Huang’s net worth increasing by $76 billion, driven by the near-tripling of Nvidia’s stock.

In China, billionaires experienced a 14% rise in their collective wealth, reversing years of losses caused by factors such as the property crisis and regulatory pressures on the tech sector.

Zhong Shanshan, whose $55 billion fortune stems from the bottled water industry, maintained his status as China’s richest individual and the only non-tech billionaire among the country’s top five. Other prominent names include Ma Huateng of Tencent, Zhang Yiming of Bytedance, and Jack Ma of Alibaba, all of whom saw their fortunes grow alongside the revitalization of China’s technology sector.

The wealth surge in 2024 underscores the resilience of the tech industry globally and the recovery of China’s economy, with billionaires in both regions playing pivotal roles in driving these gains.

Have you read?
Richest Billionaire Investors.
Billionaire Winners.
Billionaire Losers.
Best Business Schools.
Best Hotel Schools.