World Richest Man 2024: As of August 2024, the title of the world’s wealthiest person goes to Elon Musk, boasting a staggering net worth of $239.3 billion. Every year, Forbes, the renowned American business magazine, unveils its list of the globe’s wealthiest individuals.
This list is meticulously compiled considering their net assets, debts, and other influential factors, but it steers clear of including royalties and dictators who amass wealth through power and title. These estimations are meticulously crafted, accounting for individual assets, debts, and various financial factors. Notably, the list excludes royalty and dictators who accumulate wealth through their positions.
Separately, Forbes also releases the “World’s Billionaires List” or “Real-Time Billionaires List” every March, with its inception dating back to 1987. This list similarly gauges the wealth of billionaires in US dollars, derived from their disclosed assets and liabilities. Again, figures tied to royalty and dictators, who gain wealth from their stature, aren’t considered. Also Read… Haddi movie download filmyzilla Leaked in 480p Zee5 Review
Wondering how Forbes consistently delivers such precise rankings?
It’s all in the methodology. Each year, Forbes rallies a formidable team of over 50 international reporters tasked with monitoring the financial movements of the world’s financial giants, whether they’re individuals, collective groups, or wealth-sharing families. The process is exhaustive:
- Potential listees receive initial surveys.
- Their business transactions undergo rigorous scrutiny.
- Valuations of tangible assets like real estate, vehicles, and art collections are made.
- To refine these valuations, interviews are arranged and conducted.
- In the final stages, public stock holdings are assessed and valued about a month ahead of the list’s grand reveal.
World Richest Man – Top 10 Richest People in 2024:
As of August 2023, Elon Musk reigns as the world’s richest individual with a staggering net worth of $239.3 billion. Forbes, a renowned American business magazine, annually publishes a list in July called “World’s Billionaires,” which ranks the globe’s wealthiest based on their net worth. These estimations are meticulously crafted, accounting for individual assets, debts, and various financial factors. Notably, the list excludes royalty and dictators who accumulate wealth through their positions.
Elon Musk
Elon Musk, born on June 28, 1971, in Pretoria, South Africa, is an entrepreneur and business magnate known for his ambitious vision of the future. As of my last update in September 2021, he has founded or been heavily involved in several high-profile technology
- Age: 51
- Net worth: $240.7B
- Main sources of wealth: Tesla, SpaceX
- Residence: Austin, Texas, USA
Musk, the entrepreneurial mastermind behind SpaceX, Tesla, and the Boring Company, owns a considerable chunk of his fortune in Tesla shares. Notably, he acquired Twitter in 2022 for a hefty $44 billion.
Bernard Arnault & Family
Bernard Arnault is a French business magnate and art collector, serves as the Chairman and CEO of LVMH Moët Hennessy Louis Vuitton SE (commonly referred to as LVMH), the world’s largest luxury-goods company. He’s been a central figure in the luxury fashion and goods industry for decades.
- Age: 74
- Net worth: $231.4B
- Main sources of wealth: LVMH (Luxury Goods)
- Residence: Paris, France
As the powerhouse behind LVMH, the world’s top luxury goods conglomerate, Arnault oversees an empire of iconic brands. His five children have roles across LVMH’s vast operations. Most recently, in 2023, his daughter Delphine took the helm at Dior.
Jeff Bezos
Jeff Bezos, born on January 12, 1964, is an American entrepreneur, media proprietor, and commercial spaceflight company owner. He is best known as the founder, executive chairman, and previously the president and CEO of Amazon, the world’s largest online retailer.
- Age: 59
- Net worth: $154.9B
- Main sources of wealth: Amazon
- Residence: Medina, Washington, USA
After stepping down as Amazon’s CEO in 2021, Bezos now focuses on ventures like The Washington Post, and Blue Origin, and even embarked on a space journey in July 2021.
Larry Ellison
Larry Ellison is an American business magnate and co-founder of Oracle Corporation, a multinational computer technology company that offers software, cloud solutions, and hardware products. Born on August 17, 1944, in New York City, Ellison is known for his competitive nature in both business and personal pursuits.
- Age: 78
- Net worth: $146.1B
- Main sources of wealth: Oracle
- Residence: Lanai, Hawaii, USA
Ellison, a software magnate, shifted to the Hawaiian Island of Lanai, which he purchased. His commitment to Oracle remains unwavering, even after leaving the CEO role in 2014.
Bill Gates
Bill Gates, born on October 28, 1955, in Seattle, Washington, is an American business magnate, software developer, philanthropist, and co-founder of Microsoft Corporation, the world’s largest personal-computer software company. He is considered one of the best-known entrepreneurs of the microcomputer revolution of the 1970s and 1980s.
- Age: 67
- Net worth: $119.3B
- Main sources of wealth: Microsoft, Investments
- Residence: Medina, Washington, USA
Gates, Microsoft’s co-founder, has diversified his portfolio with investments in sustainable energy and other ventures.
Warren Buffet
Warren Buffett, born on August 30, 1930, in Omaha, Nebraska, is an American business magnate, investor, philanthropist, and chairman and CEO of Berkshire Hathaway, a multinational conglomerate holding company. Buffett is considered one of the most successful investors of all time, and his prudent investment strategies and philosophies have earned him the nickname “The Oracle of Omaha.”
- Age: 92
- Net worth: $117.4B
- Main sources of wealth: Berkshire Hathaway
- Residence: Omaha, Nebraska, USA
Often referred to as the “Oracle of Omaha,” Buffett’s investment acumen is legendary.
Mark Zuckerberg
Mark Zuckerberg, born on May 14, 1984, in White Plains, New York, is an American technology entrepreneur and philanthropist best known for co-founding and leading Facebook, Inc., which includes the core Facebook platform, Instagram, WhatsApp, and Oculus VR, among other products and services.
- Age: 39
- Net worth: $115.2B
- Main sources of wealth: Meta (formerly Facebook)
- Residence: Palo Alto, California, USA
Zuckerberg, the visionary behind Facebook, now leads its parent entity, Meta Platforms.
Larry Page
Larry Page, born on March 26, 1973, in Lansing, Michigan, is an American computer scientist and business magnate. He is best known as the co-founder of Google, the world’s leading search engine, which has since evolved into one of the largest and most influential tech companies globally.
- Age: 50
- Net worth: $111.9B
- Main sources of wealth: Google
- Residence: Palo Alto, California, USA
Co-founding Google with Sergey Brin, Page has been instrumental in shaping the digital age.
Sergey Brin
Sergey Brin, born on August 21, 1973, in Moscow, Russia, is an American computer scientist, business magnate, and philanthropist. He co-founded Google alongside Larry Page, and the duo significantly influenced the technology industry with their contributions.
- Age: 50
- Net worth: $106.2B
- Main sources of wealth: Google
- Residence: Los Altos, California, USA
Brin’s collaboration with Larry Page birthed Google, and he played pivotal roles at Alphabet Inc.
Steve Ballmer
Steve Ballmer, born on March 24, 1956, in Detroit, Michigan, is an American businessman and investor who is best known for his association with Microsoft Corporation. Ballmer joined Microsoft in 1980 and eventually became its CEO, a position he held from 2000 to 2014.
- Age: 67
- Net worth: $103.4B
- Main sources of wealth: Microsoft, Investments
- Residence: Hunts Point, Washington, USA
Ballmer, who helmed Microsoft from 2000 to 2014, is also the proud owner of the NBA’s Los Angeles Clippers.
How Does Forbes Determine the Richest?
Every year, a diligent team of over 50 international reporters works on tracking the wealth of the planet’s richest, spanning individuals to families. Potential candidates:
- Receive preliminary surveys.
- Undergo scrutiny for their business dealings.
- Have their assets such as homes, art, and land appraised.
- Might be interviewed to refine wealth estimations.
- Have publicly traded stock positions assessed about a month prior to the list’s publication.
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Who compiles the list of the world’s richest individuals?
The list is compiled and published annually by the American business magazine, Forbes.
When is the list usually published?
Forbes releases its World’s Billionaires List annually every March.
How is an individual’s net worth calculated for this list?
Net worth is estimated based on reported assets, debts, and other financial factors.
Are royalty and dictators included in the list?
No, the list does not include royalty and dictators who derive wealth from their position and hierarchy.
Who was the world’s richest person as of September 8th, 2023?
Elon Musk was the world’s richest person with a net worth of $239.3 billion.
How does Forbes ensure accuracy in their wealth tracking?
Forbes employs a team of over 50 reporters from various countries to track and verify the wealth of individuals, scrutinize their business deals, assess their assets, conduct interviews, and evaluate positions in publicly-traded stocks.
Does the list only include individuals?
The list mainly focuses on individual billionaires, but it can also include families or groups who share the wealth.
Has Elon Musk’s net worth been influenced by any major acquisitions?
Yes, Elon Musk purchased Twitter in October 2022 for $44 billion.
