Forbes unveils its latest billionaires list

Forbes has announced its 38th annual World’s Billionaires list, ranking the world’s richest people. This year’s list features a record-breaking 2,781 billionaires, more billionaires than ever before, 141 more than last year and 26 more than the previous record set in 2021, added Forbes.

French luxury goods titan Bernard Arnault tops the World’s Billionaires ranking for the second year in a row, after his net worth grew by 10% to an estimated $233 billion, thanks to another record year at his conglomerate, LVMH. Elon Musk remains in the second spot, with an estimated net worth of $195 billion, up 8% from last year but noticeably lower than his net worth in November 2021, when he became the first person ever to be worth $300 billion. Forbes says the decline is largely due to a fall in the value of Tesla shares.

“It’s been an amazing year for the world’s richest people, with more billionaires around the world than ever before,” says Chase Peterson-Withorn, Forbes senior editor, wealth. “A record-breaking 14 centibillionaires have 12-figure fortunes. Even during times of financial uncertainty for many, the super- rich continue to thrive.”

The world’s billionaires are richer than ever. Collectively, Forbes says they are worth a record-breaking $14.2 trillion, up by $2 trillion from its 2023 list and $1.1 trillion above the previous record, set in 2021. The top 20, in particular, had a great year, adding a combined $700 billion in wealth over the past 12 months.

Forbes outlines the key highlights below:

• Newcomers: This year’s ranking features 265 newcomers, including fashion designer Christian Louboutin ($1.2 billion); NBA legend Magic Johnson ($1.2 billon); TV producer Dick Wolf ($1.2 billion); pop star Taylor Swift ($1.1 billion), who has toured and recorded her way to billionaire status; and OpenAI’s Sam Altman ($1 billion).
• Globally: The United States still has more billionaires than any other country, now boasting a record 813 on the list, worth a combined $5.7 trillion. China remains second, with 473 (including Hong Kong) worth $1.7 trillion. India, which has a record-breaking 200 billionaires worth $954 billion, ranks third.
• The $100 Billion Club: A record 14 people worldwide now have 12-figure fortunes. This elite group is 255% richer than they were a decade ago, and are now worth $2 trillion in all, meaning just 0.5% of the world’s 2,781 billionaires hold 14% of all billionaire wealth.
• Drop-offs: 189 people fell off the list in 2024, including 129 from mainland China, where weak consumer spending and a real estate bust helped wipe out $200 billion in wealth. An additional 32 billionaires died, including Egyptian tycoon Mohamed Al-Fayed, former Italian Prime Minister Silvio Berlusconi, former Chilean President Sebastián Piñera and Margaritaville singer Jimmy Buffett.

The 2024 Billionaires issue features a cover story on investor and sports magnate Todd Boehly.

Forbes says feature stories included in the Billionaires package include:

• Todd Boehly: Drawing from Warren Buffett’s longtime playbook, Boehly has used the cash generated from his boring – but dependable – annuities business to build an international multibillion-dollar sports and entertainment empire which includes the Los Angeles Dodgers, Chelsea FC and the Golden Globes.
• The $100 Billion Club: The number of people with dozen-digit fortunes is soaring.
• Donald Trump: The former President’s legal woes have taken a half-billion-dollar bite out of his net worth. Meme stock traders might just bail him out. The 2024 Forbes Billionaires List reflects net worths calculated based on stock prices and exchange rates as of March 8, 2024. At the time the list was compiled, Donald Trump was worth $2.3 billion. Forbes has since updated the press release to reflect his current net worth of $5.7 billion as of Monday, April 1, 2024.
• New Billionaires 2024: Taylor Swift, Magic Johnson And 263 Others Join The Ranks This Year
• Bolt’s Ryan Breslow, Signa’s Rene Benko, Evergrande’s Hui Ka Yan: Here’s Who Fell Off Forbes’2024 Billionaires List
• The Billionaires Getting Rich From AI 2024
• The World’s Youngest Billionaires 2024
• Richest Women in the World
• The Top 10 Richest Tech Billionaires 2024

The publisher says the Forbes World’s Billionaires list is a snapshot of wealth using stock prices and currency exchange rates from March 8, 2024.