The Cash Kings… Ten Richest people of the world in 2024

The Forbes Magazine has issued the latest list of top ten richest people of the world. Get insights into extraordinary wealth and achievements of these influential people.

The world’s ten richest people represent a staggering concentration of wealth and influence. Led by figures like Bernard Arnault, Elon Musk and Jeff Bezos these individuals have amassed fortunes that defy comprehension, each with net worths reaching into the hundreds of billions of dollars.

The net worth of the top 10 richest people surpasses the GDP of numerous nations. Today, their wealth is primarily concentrated in technology, finance, and retail industries. And the growing wealth disparity between them and the less privileged is a significant concern for people worldwide.

Beyond their financial achievements, these billionaires often wield significant power and influence, shaping industries, economies, and even societal trends.

Their fortunes fluctuate with market movements and business decisions, but their collective impact on the world’s economy and culture is undeniable, making them both admired and scrutinized figures in the global spotlight.

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Here is the list of ten cash kings of todays world.

1-Bernard Arnault & Family

• Age: 74
• Residence: Paris
• Citizenship: France

Bernard Arnault, the richest person in the world, is the CEO and chairman at Moët Hennessy Louis Vuitton (LVMH), the world’s largest luxury goods company encompassing approximately 70 renowned fashion and cosmetics brands. Notable names within its portfolio include Louis Vuitton, Christian Dior, Moet & Chandon, and Sephora. In January 2021, LVMH completed the acquisition of jeweller Tiffany & Co. for a staggering $15.8 billion.

Arnault’s five children contribute to various sectors within the expansive LVMH empire. In January 2023, he appointed his daughter Delphine to lead Dior, the group’s second-largest brand.

2-Elon Musk

• Age: 52
• Residence: Austin, Texas
• Citizenship: US

Elon Musk is now the second richest person in the world. He is the CEO of several prominent companies, including electric car manufacturer Tesla and space exploration company SpaceX. He currently possesses a 23 percent stake in Tesla. A significant portion of his wealth, around two-thirds, is tied to the success of Tesla. Musk made headlines in October 2022 when he purchased Twitter for $44 billion.

Musk led Tesla to its initial public offering in 2010. The company experienced significant growth in market capitalisation during 2020 and 2021, propelling Musk to the position of the world’s top 10 richest people in September 2021. At its peak in November 2021, Musk’s fortune reached an astounding $320 billion.

3-Jeff Bezos

• Age: 60
• Residence: Medina, Washington
• Citizenship: US

In July 2021, Jeff Bezos decided to give up his role as CEO of the ecommerce powerhouse Amazon while still maintaining his position as chairman. During the same month, he embarked on a space voyage aboard a rocket developed by Blue Origin, a private space exploration company he established and generously funded with billions of dollars.

4-Mark Zuckerberg

• Age: 39
• Residence: Palo Alto, California
• Citizenship: US

Mark Zuckerberg, co-founder and CEO of Meta Platforms, started its flagship social media platform Facebook in 2004 when he was only 19. He was a computer science and psychology student at Harvard University. Facebook was created to match the names of students on campus with their photos. In 2006, Facebook opened to everyone at least 13 years old with a valid email address.

In May 2012, Zuckerberg took the company public, and by December 2016, he was ranked 10th on the Forbes list of The World’s Most Powerful People. Currently, Zuckerberg owns about 13 percent of the company’s stock.

The 39-year-old techie is married to Priscilla Chan and is a father of three daughters. Together with his wife, he is spending $3 billion in an attempt to end, cure or manage all diseases by the year 2100.

5-Larry Ellison

• Age: 79
• Residence: Lanai, Hawaii
• Citizenship: US

Larry Ellison co-founded the software firm Oracle in 1977 and held the position of its CEO until 2014. Currently, he assumes the company’s chairman and Chief Technology Officer roles. In 2012, Ellison made headlines when he acquired the Hawaiian island of Lanai for a sum of $300 million. Ellison also ventured into investments, including a substantial stake in Tesla, where he served on the board of directors from 2018 until 2022.

6-Warren Buffett

• Age: 93
• Residence: Omaha, Nebraska
• Citizenship: US

Warren Buffett, widely recognised as the “Oracle of Omaha,” is one of history’s most accomplished investors. He is the head of Berkshire Hathaway, an investment conglomerate with a diverse portfolio encompassing numerous companies, such as insurance provider Geico, battery manufacturer Duracell, and restaurant chain Dairy Queen.

In 2010, Buffett and Bill Gates and Melinda French Gates established the Giving Pledge initiative, which urges billionaires to donate at least 50 percent of their wealth to charitable organisations. Demonstrating his unwavering philanthropic commitment, Buffett has expressed his intention to donate 99 percent of his fortune.

7-Bill Gates

• Age: 68
• Residence: Medina, Washington
• Citizenship: US

In 1987, Forbes first recognised Gates as a billionaire. From 1995 to 2017, he maintained the title of the world’s richest person, with brief exceptions in 2008 and from 2010 to 2013. In 2021, Gates and Melinda French Gates finalised their divorce, with Melinda receiving at least $6 billion in stocks as part of the settlement. According to Forbes’ estimates, Gates’ fortune experienced a modest increase of approximately $500 million from May 1 to June 1, 2023, allowing him to ascend one spot in the rankings to secure the fifth position.

8- Steve Ballmer

• Age: 67
• Residence: Hunts Point, Washington
• Citizenship: US

A Harvard University classmate of Bill Gates, Steve Ballmer, assumed the role of CEO at Microsoft from 2000 to 2014. His journey with Microsoft began in 1980 when he joined as the company’s 30th employee, having dropped out of the MBA at Stanford University.

In the same year that Ballmer retired from Microsoft, he made headlines by acquiring the Los Angeles Clippers basketball team for a staggering $2 billion, setting a new benchmark for the highest price paid for an NBA team at that time.

9- Mukesh Ambani

• Age: 66
• Residence: Mumbai, India
• Citizenship: India

Mukesh Ambani, the chairman and largest shareholder of Reliance Industries Limited, is a towering figure in the Indian business landscape. Mukesh Ambani’s journey to success began when he joined the family business in 1981 after completing his MBA from Stanford University.

Under his leadership, Reliance Industries has transformed into one of India’s largest conglomerates, with interests spanning petrochemicals, refining, oil and gas exploration, telecommunications, retail, and media.

Ambani’s strategic vision and bold initiatives, such as the launch of Jio, India’s largest 4G network, have reshaped industries and disrupted traditional business models.

With a keen focus on innovation and technology, Ambani continues to drive Reliance Industries towards new heights, solidifying his position as one of the most influential and admired business leaders in India and beyond.

10- Larry Page

• Age: 50
• Residence: Palo Alto, California
• Citizenship: US

Larry Page and his fellow Stanford PhD student Sergey Brin co-founded Google in 1998. Initially, Page held the position of CEO until 2001 and later resumed the role from 2011 to 2015.

Currently, he serves as a member of the board of Alphabet, the parent company of Google, and retains significant control over the company as a major shareholder.

Additionally, Page played a key role as a founding investor in Planetary Resources; a company focused on space exploration.