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Published October 05, 2024
The world’s wealthiest individuals share several key traits, but one of the most significant is that the top 10 richest people each possess over $100 billion in wealth, with some exceeding the $200 billion mark. Their fortunes aren’t simply large sums of cash sitting in a bank. Instead, their wealth primarily comes from investments, particularly in some of the world’s largest and most successful publicly traded companies. The good news for everyday investors is that many of these companies are publicly traded, meaning anyone can buy into their success by purchasing shares.
These billionaires didn’t accumulate their immense wealth overnight. Their paths to financial success involve a combination of innovation, hard work, smart decision-making, and sometimes a bit of luck. Many of them were also supported by skilled financial advisors who helped them make wise investments over the years. For some, being at the right place at the right time played a role, but all of them made long-term investments that paid off tremendously.
Let’s dive deeper into the lives and investments of these 10 wealthiest individuals, as reported by the Bloomberg Billionaires Index, as of October 5th, 2024:
The World’s 10 Richest People
1. Elon Musk: $262 Billion
- Age: 53
- Residence: United States
- Co-founder and CEO: Tesla
- Net Worth: $269 billion
- Tesla Ownership Stake: 13% ($106 billion)
- X Ownership Stake: 79% ($5.62 billion)
- Other Assets: Space Exploration Technologies ($82.2 billion private asset), The Boring Company ($3.33 billion private asset), Neuralink ($2.07 billion private asset), xAI ($13.3 billion private asset)5Bloomberg. “Elon Musk.”
Elon Musk is a figure who evokes strong reactions, but his wealth is undeniable. Born in South Africa, Musk first made his mark by helping build PayPal. However, it was his vision for Tesla that really launched him into billionaire status. Tesla has grown into a leading player in the electric vehicle market, and Musk’s other venture, SpaceX, is pushing the boundaries of space travel. Recently, Musk also purchased Twitter and renamed it X, further solidifying his influence in the tech world. Though he’s courted controversy through his political statements and public persona, Musk remains the world’s richest person, primarily due to his stakes in Tesla and SpaceX.
2. Jeff Bezos: $208 Billion
- Age: 60
- Residence: United States
- Founder and Executive Chair: Amazon (AMZN)
- Net Worth: $208 billion
- Amazon Ownership Stake: 9% ($172 billion)
- Other Assets: Blue Origin ($15 billion private asset), The Washington Post ($250 million private asset), Koru ($500 million private asset), and $20.7 billion in cash
As the founder of Amazon, Jeff Bezos became a household name in the late 1990s, during the dot-com boom. His fortune, however, skyrocketed after the 2008 financial crisis when Amazon rapidly expanded into cloud services, logistics, and entertainment. Bezos also purchased The Washington Post in 2013 and founded Blue Origin, a private spaceflight company. Known for his philanthropy, Bezos created the Bezos Earth Fund in 2020, donating $10 billion to combat climate change, and he’s pledged to give away the majority of his fortune.
3. Mark Zuckerberg: $203 Billion
- Age: 40
- Residence: United States
- CEO and Chair: Meta Platforms (META)
- Net Worth: $204 billion
- Meta Platforms Ownership Stake: 13% ($199 billion)
- Other Assets: $5.50 billion in cash
Mark Zuckerberg is the youngest billionaire on this list. He founded Meta Platforms, formerly known as Facebook, in his Harvard dorm room, and the platform quickly became a global phenomenon. Over the years, Meta expanded to include Instagram and WhatsApp, turning Zuckerberg into one of the richest and most influential tech entrepreneurs. Despite some setbacks and controversies, his company continues to thrive.
4. Bernard Arnault: $196 Billion
- Age: 75
- Residence: France
- CEO and Chair: LVMH (LVMUY)
- Net Worth: $195 billion
- LVMH Ownership Stake: 48% ($177 billion)
- Other Assets: $19.1 billion in cash
Bernard Arnault is the brains behind LVMH, a luxury goods conglomerate that owns iconic brands like Christian Dior, Louis Vuitton, Moët, and Hennessy. Under Arnault’s leadership, LVMH has grown into one of Europe’s most valuable companies. In recent years, LVMH acquired Tiffany & Co., further expanding its luxury empire. Arnault’s wealth is deeply tied to the high-end fashion and luxury goods sector, making him a dominant force in this industry.
5. Larry Ellison: $180 Billion
- Age: 80
- Residence: United States
- Co-founder, Chair, and CTO: Oracle (ORCL)
- Net Worth: $180 billion
- Oracle Ownership Stake: 42%+ ($140 billion)
- Other Assets: Tesla equity ($11.6 billion public asset), $28 billion in cash
Larry Ellison co-founded the software company Oracle, which became one of the world’s leading enterprise software providers. He stepped down as CEO in 2014 but continues to serve as Oracle’s executive chairman and chief technology officer. Ellison is also known for his extensive real estate portfolio, which includes the Hawaiian island of Lana’i, which he owns almost entirely.
6. Bill Gates: $162 Billion
- Age: 68
- Residence: United States
- Co-founder: Microsoft (MSFT)
- Net Worth: $163 billion
- Microsoft Ownership Stake: 1% ($27.2 billion)
- Other Assets: Billions in multiple other companies held through a holding company, Cascade Investment, and $79.8 billion in cash
Bill Gates, the co-founder of Microsoft, has long been a fixture on the list of the world’s richest people. Gates transitioned from running Microsoft to focusing on philanthropy through the Bill & Melinda Gates Foundation, one of the world’s largest private charitable organizations. Despite stepping down from an active role at Microsoft, his wealth continues to grow, primarily through investments.
7. Larry Page: $150 Billion
- Age: 51
- Residence: United States
- Co-founder and Board Member: Alphabet (GOOG)
- Net Worth: $151 billion
- Alphabet Ownership Stake: 6% ($130.7 billion)
- Other Assets: $20.3 billion in cash
Larry Page is one of the co-founders of Google, now part of the parent company Alphabet. Page played a key role in Google’s early development and led the company through some of its most transformative years. While he stepped down from an active role at Alphabet in 2019, his wealth remains deeply tied to the tech giant’s continued success.
8. Steve Ballmer: $145 Billion
- Age: 68
- Residence: United States
- Owner: Los Angeles Clippers
- Net Worth: $146 billion
- Microsoft Ownership Stake: 4% ($134 billion)
- Other Assets: Los Angeles Clippers ($4.56 billion private asset), The Forum ($400 million private asset), Intuit Dome ($2 billion private asset), $4.83 billion in cash
Steve Ballmer made his fortune through his long tenure at Microsoft, where he served as CEO from 2000 to 2014. After leaving Microsoft, Ballmer purchased the Los Angeles Clippers, a professional basketball team in the NBA. His wealth is still closely tied to Microsoft stock, which has continued to perform well even after his departure.
9. Warren Buffett: $144 Billion
- Age: 94
- Residence: United States
- CEO: Berkshire Hathaway (BRK.A)
- Net Worth: $144 billion
- Berkshire Hathaway Ownership Stake: 15% ($142 billion)64
- Other Assets: $1.58 billion in cash
Known as the “Oracle of Omaha,” Warren Buffett is a legendary investor who has led Berkshire Hathaway for nearly 60 years. Berkshire Hathaway owns significant stakes in a wide range of companies, including Apple, Coca-Cola, and many more. Buffett is famous for his value investing strategy and his company’s annual shareholder meetings, which attract investors from all over the world.
10. Sergey Brin: $141 Billion
- Age: 51
- Residence: United States
- Co-founder and Board Member: Alphabet (GOOG)
- Net Worth: $142 billion
- Alphabet Ownership Stake: 6% ($121.9 billion)
- Other Assets: $20.4 billion in cash
Sergey Brin co-founded Google alongside Larry Page in a Silicon Valley garage. Brin played an essential role in developing the company into one of the world’s largest and most profitable tech giants. Though he stepped down from his role at Alphabet in 2019, Brin remains deeply invested in the company and its future.
How can you build your fortune?
This list offers a handful of takeaways for people who are looking to build their own wealth.
First, all these individuals own stock. Their immense wealth is built upon owning massively successful companies that are among the leaders in their respective industries. They have significant ownership stakes in these businesses. While they’ve generally worked in their businesses, their real wealth comes from the ownership of those companies.
Second, because these companies are publicly traded, individual investors — anyone in the general public — can also take a stake in them. Many people have become millionaires and multi-millionaires by riding the coattails of these individuals and owning stock in their companies. It’s easy to get started with one of the best brokers for beginners, and if you’re looking for strong investments, a financial advisor can also help you find those that meet your needs.
Third, these billionaires have built their wealth over decades — they’re not overnight lottery winners. Unquestionably they had some advantages — some were in the right place at the right time — but they all owned growing assets and then used time to compound their returns. And time is something that individuals have, whether they’re rich or poor, well-placed or not.
Here’s how to build your ultimate investing plan.
| Person | Wealth | Key investments |
|---|---|---|
| 1. Elon Musk | $262 billion | Tesla, SpaceX |
| 2. Jeff Bezos | $208 billion | Amazon, Blue Origin |
| 3. Mark Zuckerberg | $203 billion | Meta Platforms |
| 4. Bernard Arnault | $196 billion | LVMH |
| 5. Larry Ellison | $180 billion | Oracle |
| 6. Bill Gates | $162 billion | Microsoft |
| 7. Larry Page | $150 billion | Alphabet |
| 8. Steve Ballmer | $145 billion | Microsoft |
| 9. Warren Buffett | $144 billion | Berkshire Hathaway |
| 10. Sergey Brin | $141 billion | Alphabet |
Source: Bloomberg, as of Oct. 5th, 2024.
Conclusion
The paths to wealth taken by the world’s richest individuals offer a roadmap for those looking to build their own financial success. By investing in growing businesses, having the patience to let investments compound over time, and taking advantage of stock ownership, everyday individuals can grow their wealth. You don’t need billions to start — just a commitment to making smart financial choices.
