Forbes annual list shows that this year there were more billionaires than ever before. The “rich list” is annual decline of the biggest banks on the planet and this year there were more faces entering the category of billionaires in 2024.

The report says the 2024 list is “richer than ever, worth $14.2 trillion in total, up $2 trillion from 2023 and $1.1 trillion above the previous record, also set in 2021. Two-thirds of members of the list are valid more than one year ago; only a quarter are poorer. Most of the gains came from the top 20, who added a fortune of $700 billion as of 2023, and the US, which now boasts a record 813 billionaires worth a combined $5.7 trillion.

Taylor Swift is one of those new faces after she broke the bank with her award-winning and record-selling Eras tour. She enters the list with an estimated net worth of $1.1 billion.

Forbes Rich List

Bernard Arnault tops the annual list and is followed by billionaire philanthropist and X owner Elon Musk. The top 10 are as follows:

1. Bernard Arnault — $233 billion: Oversees the LVMH empire of 75 fashion and cosmetics brands, including Louis Vuitton and Sephora.
2. Elon Musk — $195 billion: Co-founded six companies, including electric car maker Tesla, rocket maker SpaceX and Boring Tunnel startup. He hit the headlines last year for all the wrong reasons, and his take on social media Twitter has caused investors such as Coca-Cola and Disney to flee after he adopted an anti-Semitic message.
3. Jeff Bezos — $194 billion: Amazon's arch-duke has been a feature of this list, and the shopping platform shows no signs of slowing down.
4. mark Zuckerberg — $177 billion: Co-founded Facebook and is the head of Meta.
5. Larry Ellison — $141 billion: Owner and major shareholder of Oracle. The company has become known for being integral to hybrid work during and after COVID-19.
6. Warren Buffett — $133 billion: Known as the “Oracle of Omaha,” Buffett has seen his wealth grow since 2020 to an all-time high in 2024.
7. Bill Gates — $128 billion: Gates needs no introduction, and he has diversified his portfolio into many different investment streams.
8. Steve Ballmer — $121 billion: Former CEO of Microsoft.
9. Mukesh Ambani –– $116 billion: CEO of Reliance Industries, which has interests in petrochemicals, oil and gas, telecom, retail and financial services.
10. Larry Page — $114 billion: Controlling shareholder and former CEO of Alphabet, owner of Google.

This year's ranking shows 2,781 people qualify for the “billionaire” designation by 2023, an increase of 141 over last year.

Image: Forbes.

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