Top 10 richest people in the world in May 2024: In a world fueled by ambition and entrepreneurial spirit, a set of visionary leaders have attained unprecedented wealth through innovation and strategic vision. So, as the global wealth landscape evolves, we witnessed a remarkable surge in wealth creation, with the net worth of the world’s wealthiest individuals sharply increasing in FY 2023-24.
Bernard Arnault, the Chairman and CEO of LVMH, currently ranks as the world’s richest person—a spot he’s held since February, surpassing Elon Musk, the founder of Space X and Tesla.
Interestingly, Bill Gates, who reigned as the world’s richest person for almost three decades starting in 1995, has come down the ranks as the world’s ninth richest, replacing India’s Mukesh Ambani, the Chairman of Reliance Industries, who held the same position last month with a net worth of $116.9 billion and is currently positioned in eleventh place with a net worth of $115.2 billion.
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In late April 2024, Forbes released the list of affluence, showcasing the ten individuals currently dominating the world’s richest list in the world, as of May 1. However, it’s important to note that since stock prices fluctuate routinely, the net worth might change accordingly. One can check out the world’s real-time billionaire list here.
1. Bernard Arnault, Chairman and CEO, LVMH
Bernard Arnault (Source: Getty Images)
Real-Time Net Worth: $212.5B
Bernard Arnault, the CEO and chairman of LVMH, the world’s largest luxury goods group, has reclaimed the top spot as the richest person on January 31, 2024, surpassing Elon Musk. Arnault’s remarkable success has earned him the distinction for most of the first half of 2023, although he briefly fell to second rank in June 2023 but regained the top spot in 2024. Under his leadership, LVMH has grown into a global powerhouse, boasting an impressive portfolio of over 70 luxury brands, including iconic names like Louis Vuitton, Christian Dior, Moet & Chandon, Sephora, and Tiffany & Co.
2. Jeff Bezos, Chairman and Founder, Amazon.com
Jeff Bezos (Source: File)
Real-Time Net Worth: $203.8B
Jeff Bezos, the founder and chairman of Amazon, started the company in 1994 and served as its CEO until July 2021, when he transitioned to the role of chairman. Before launching Amazon.com from his Seattle garage, Bezos worked at the hedge fund D.E. Shaw in New York. His financial ascent saw him surpass Bill Gates as the world’s wealthiest individual in July 2017, leading to a back-and-forth exchange of the top two spots with Gates. He held the title of the world’s richest person on Forbes from 2018 to 2021, slipping to the second spot in 2022. In 2024, throughout March, Bezos and Elon Musk alternated between the second and third positions multiple times, reflecting the fluctuating stock prices of Amazon and Tesla.
3. Elon Musk, CEO, Tesla and SpaceX
Elon Musk (Source: Reuters)
Real-Time Net Worth: $198.4B
Elon Musk, a prominent figure known for his roles as the CEO of Tesla, SpaceX, and X (formerly Twitter), currently holds the position as the second richest individual as of May 1, 2024. Musk’s diverse portfolio includes being the founder, chairman, CEO, and CTO of SpaceX; an angel investor, CEO, product architect, and former chairman of Tesla, Inc.; owner, executive chairman, and CTO of X Corp.; founder of the Boring Company and xAI; co-founder of Neuralink and OpenAI; and president of the Musk Foundation. Notably, his leadership at Tesla during its 2010 IPO led to a significant increase in market capitalisation, propelling Musk to briefly hold the title of the world’s richest person in 2021. Additionally, his strategic acquisition of Twitter, now rebranded as X, has further diversified his influential ventures.
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4. Mark Zuckerberg, CEO, Meta
Mark Zuckerberg (Source: AP)
Real-Time Net Worth: $158.7B
Mark Zuckerberg, the co-founder and CEO of Meta Platforms (formerly known as Facebook), has built and co-founded the social networking platform that has since grown to become the world’s largest, with over 3 billion monthly active users. In addition to Facebook, Meta Platforms also owns and operates other prominent social media apps, including Instagram and WhatsApp, both of which were acquired and expanded. As Meta’s stock price rose in early 2023, Zuckerberg rejoined the world’s top 10 richest individuals for the first time since January 2022 and maintained his position as the fourth-wealthiest person in the world.
5. Larry Ellison, CTO and Founder, Oracle
Larry Ellison (Source: Getty Images)
Real-Time Net Worth: $144.9B
Larry Ellison, the chairman, chief technology officer, and co-founder of Oracle, owns under 40% of the company’s shares and is currently the fifth richest individual. Stepping down from the CEO position in 2014 after a remarkable 37-year tenure, Ellison has been instrumental in Oracle’s growth, leveraging strategic acquisitions such as the notable $28.3 billion purchase of Cerner, a leading electronic health records company, in 2021. In a significant personal move, Ellison made Lanai, a Hawaiian island, his permanent residence in 2020, having acquired the majority of the island for $300 million back in 2012. Additionally, he served on Tesla’s board from December 2018 to August 2022 and maintains ownership of approximately 15 million shares.
6. Larry Page, Co-founder and Board Member, Alphabet
Larry Page (Source: AP)
Real-Time Net Worth: $138.9B
Larry Page, along with Sergey Brin, co-founded Google in 1998 during their time as Stanford PhD students. Page served as CEO from 1998 to 2001 and then again from 2011 to 2015. Currently, he holds a position as a board member of Alphabet, Google’s parent company, and retains a significant ownership stake. Notably, Page was an early investor in Planetary Resources, a company focused on asteroid mining, which was later acquired by ConsenSys in 2018. His wealth surged, propelling him into the top 10 richest individuals globally, after a remarkable 15% increase in Alphabet’s share price in May 2023, which continued to soar.
7. Sergey Brin, Cofounder and Board Member, Alphabet
Sergey Brin (Source: File)
Real-Time Net Worth: $133.2B
Sergey Brin, along with his Stanford PhD colleague Larry Page, co-founded the Google search engine in 1998. Originally from Russia, Brin initially served as the technology president at Google before transitioning to lead special projects, such as the development of Google Glass, an innovative wearable device with voice-activated “smart glasses” technology. Presently, Brin holds a position as a board member of Alphabet, Google’s parent company. Notably, he has emerged as a prominent supporter of Parkinson’s disease research, contributing a substantial $1.25 billion to various research initiatives, including a collaborative effort led by his team known as Aligning Science Across Parkinson’s.
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8. Warren Buffet, CEO,Berkshire Hathaway Inc.
Warren Buffett (Source: Reuters/File)
Real-Time Net Worth: $131.7B
Warren Buffett, known as the “Oracle of Omaha,” stands out as a highly successful investor in history. He leads Berkshire Hathaway, an investment conglomerate with a wide-ranging portfolio that includes companies like Geico, Duracell, Apple, Nu Holdings, and Dairy Queen. In 2010, Buffett, along with Bill Gates and Melinda French Gates, founded the Giving Pledge initiative. This initiative encourages billionaires to commit to donating a minimum of 50 per cent of their wealth to charitable organisations.
9. Bill Gates, Co-chair, Bill & Melinda Gates Foundation
Bill Gates (Express Photoby: AmitMehra)
Real-Time Net Worth: $128.5B
Bill Gates, after dropping out of Harvard, co-founded Microsoft, leading Forbes to recognise Gates as a billionaire in 1987, and he held the title of the world’s richest person from 1995 to 2017 (with exceptions in 2008 and from 2010 to 2013). After serving as CEO for 25 years and chairman until 2014, Gates eventually stepped down from the board in 2020 and presently co-chairs the Bill & Melinda Gates Foundation and holds investments in numerous companies, like Republic Services and Deere Co. His philanthropic efforts, including substantial donations to the Gates Foundation totalling $59 billion, led to his wealth decline and subsequent displacement as the wealthiest individual by Jeff Bezos in 2018. Following his divorce from Melinda French Gates in 2021, he experienced a $4 billion decrease in his fortune in April 2024, causing him to drop from the 7th to the 9th richest in the rankings, marking his lowest position in decades as others surged ahead.
10. Steve Ballmer, Owner, Los Angeles Clippers
Steve Ballmer (Source: The Financial Express)
Real-Time Net Worth: $121.2B
Steve Ballmer, the dynamic former CEO of Microsoft, steered the company from 2000 to 2014. Joining Microsoft in 1980 as its 30th employee after leaving Stanford’s MBA programme, Ballmer led the tech giant through the aftermath of the dot-com crash, spearheading initiatives to compete with Google in search technology and Apple in mobile devices. Upon retiring from Microsoft in 2014, Ballmer made headlines by acquiring the NBA’s Los Angeles Clippers for $2 billion, which now values the team at $4.65 billion, leading him to become the tenth richest individual in 2024.
