Hurun Global Rich List 2024: Top 10 Wealth Magnates and Biggest Wealth Gainers

The “Hurun Global Rich List 2024” has been made public by the Hurun Research Institute. Elon Musk, the CEO of Tesla, has resurfaced as the richest person in the world among billionaires, with a net worth of $231 billion. Two newcomers to the elite top 10, Bertrand Puech of Hermes and Francoise Bettencourt Meyers of L’Oreal, have joined: Mark Zuckerberg of Meta, worth $158 billion, and former Google CEO Larry Page, worth $123 billion.

Top 10 wealth magnates

1. Elon Musk ($231 billion): Due to an amazing rise in his fortune stemming from his businesses SpaceX and Tesla, Musk has become the richest person in the world for the third time in the last four years. His companies have prospered because of cutting-edge technology and strategic government contracts.
2. Jeff Bezos ($185 billion): Bezos overcame previous setbacks and secured his second place on the list thanks to Amazon’s cloud computing division, which has helped him increase his wealth by 57%.
3. Bernard Arnault ($175 billion): Arnault’s fortune in the luxury sector places him third, even though he lost more money than any other billionaire this year. However, Novo Nordisk surpassed LVMH as the most valuable company in Europe.
4. Mark Zuckerberg ($158 billion): Coming in fourth, Zuckerberg’s wealth more than doubled this year, making him the biggest gainer. This was made possible by the meteoric rise in Meta’s shares.
5. Larry Ellison ($144 billion): Ellison moved up the wealth ladder by $44 billion thanks to his strategic moves with Oracle, especially in growing cloud services and acquisitions.
6. Warren Buffett ($144 billion): Buffett, who has accumulated a fortune through a variety of investments, is well-known for his charitable endeavors and modest lifestyle despite his wealth.
7. Steve Ballmer ($143 billion): Ballmer rises to seventh place with a 41% increase in wealth, mostly from Microsoft shares.
8. Bill Gates ($138 billion): Focusing on investments, Gates’ wealth has increased by 25%, placing him in eighth place.
9. Larry Page ($123 billion): Page moved up to ninth place due to a 64% increase in wealth due to his investments and kiteboarding interest.
10. Mukesh Ambani ($115 billion): Ambani fell one spot but saw a 40% increase in wealth.

With $426 billion more in their bank accounts, this group now has $1.5 trillion in total wealth—or 56% of all new wealth created in the year. Nine of the richest people are Americans, and two are each from France and India. Of the Hurun Top 10, Bernard Arnault was the only one to experience a decrease in wealth.

Biggest wealth gainers

In addition to Musk and Zuckerberg, other notable gainers are:

— Larry Ellison: Oracle’s aggressive expansion helped him increase his fortune by $44 billion.
— Steve Ballmer’s status was strengthened by a 41% increase in wealth.
— Jeff Bezos: Bezos has made a substantial comeback from prior setbacks, boasting a $67 billion increase.
— Larry Page: His ranking in the top ten has been solidified with a $48 billion increase.
— Jensen Huang of Nvidia: He joined the Hurun Top 30 after doubling his wealth to $48 billion.
— Huang Zheng, a Pinduoduo resident saw a $22 billion rise in wealth, driven by the expansion of his company.
— American billionaire Ken Fisher: The US stock markets helped him increase his wealth by $3 billion.
— The fortune of billionaire Belgian Eric Wittouck rose by $2.5 billion.

Who suffered a serious loss?

1. $27 billion was lost by Bernard Arnault
2. Significant losses were also incurred by Leonard Lauder of Estee Lauder and Francois Pinault of Kering in the luxury market.
3. The value of Laurene Powell Jobs’s wealth was reassessed as a result of a decline in Walt Disney shares.
4. A challenging year for China’s renewable energy sector saw Robin Zeng of CATL lose $12 billion.
5. Wang Jianlin’s wealth dropped by $10.8 billion as a result of real estate problems.
6. Carl Icahn incurred a $9.4 billion loss due to worries about financial leverage.
7. Wang Wenying of Amer went out of the list due to severe financial difficulties.
8. Rene Benko, who was previously valued at $5.6 billion, was removed from the list following the bankruptcy of Sigma Holdings.

1,933 people saw an increase in their wealth. A resurgence in sectors such as automotive and high-tech startups has enabled numerous people to achieve unprecedented prosperity or make up for past losses. In the meantime, 1,346 people experienced a decline in their luck.

Where do the billionaires live?

With 814 billionaires, China continues to lead the world in billionaire production despite a decline of 155 billionaires. The United States, which has added 109 billionaires to its total, is right behind with 800 billionaires. Together, China and the US make up 49% of the world’s billionaires, a 4% decline.

India now has 84 billionaires, almost twice as many as the United Kingdom. This is a huge increase. China is declining while Brazil, Indonesia, and Japan have all seen positive growth.

In terms of cities, New York has taken back its top spot as the most desirable destination for billionaires, with London moving up to number two.

Mumbai became the city with the fastest rate of increase in the number of billionaires, adding 26 over the year to rank third globally and top in Asia for billionaires. While Palm Beach, Istanbul, Mexico City, and Melbourne have debuted in the Hurun Report’s Top 30 Cities list, New Delhi has broken into the Top 10 for the first time.