Richest Man in the World 2024 (Name, Networth and Country)

The Real-Time Billionaire List, an annual compilation by Forbes Magazine, is a renowned roster detailing the wealthiest individuals worldwide, gauged by their estimated net worth. Released each March, this list offers a comprehensive snapshot of the richest man in the world. The first edition of this ranking was introduced in 1987, becoming a widely anticipated and influential annual report on the financial standing of the world’s wealthiest individuals.

Who is the Richest Man of the World as of 2024?

Elon Musk is a famous businessman and investor, known for creating and leading important companies like SpaceX and Tesla. As of October 2024, he is considered the wealthiest man in the world, with a net worth of approximately $264 billion. This article explores his life, career, and significant achievements.

Net Worth of World’s Richest Person

As of October 2024, Forbes estimates Elon Musk’s net worth to be approximately $264 billion. This makes him the richest person in the world. His wealth primarily comes from his successful ventures in technology and space exploration.

Career Highlights of World’s Richest Person, Elon Musk

• Founder and CEO of SpaceX: Musk founded SpaceX in 2002 with the goal of reducing space transportation costs and enabling the colonization of Mars. SpaceX has achieved several milestones, including launching reusable rockets and sending astronauts to the International Space Station.
• CEO and Product Architect of Tesla, Inc.: In 2004, Musk became involved with Tesla, a company focused on electric vehicles. He has played a crucial role in making electric cars popular and has worked on various innovations to improve battery technology and sustainable energy.
• Owner of X Corp. (formerly Twitter): In 2022, Musk acquired Twitter for $44 billion. He later merged it into X Corp. and rebranded the platform as X. His ownership has sparked debates over free speech and misinformation on social media.

Other Ventures Owned by Elon Musk

Musk has founded and co-founded several other companies:

• The Boring Company: A tunnel construction company aimed at reducing traffic congestion.
• Neuralink: A neurotechnology company focused on developing brain-computer interfaces.
• xAI: An artificial intelligence company founded in 2023.
• OpenAI: A nonprofit organization aimed at ensuring that artificial intelligence benefits humanity.

Top 10 Richest Persons In the World by October 2024

As of October 2024, Elon Musk, with a remarkable net worth of $264 billion, holds the title of the richest man in the world, followed by Jeff Bezos, Mark Zuckerberg and Bernard Arnault & Family.

Here is the list of Top 10 Richest Man in the World as of October 2024:

Top-10 Richest Man in the World in Brief

Here is the brief description of top-10 richest man of the world along with their net worth, source of income and some key details:

1. Richest Man in the World – Elon Musk

The world’s richest person, Elon Musk, aged 53 and based in the United States, serves as Tesla’s co-founder and CEO, boasting a net worth of $264 billion. His 13% Tesla ownership stake is valued at $98.1 billion, complemented by a 79% ownership stake in X, worth $9.32 billion. Musk’s other private assets include SpaceX ($53.2 billion) and the Boring Company ($3.33 billion)

Elon Musk is the richest person in the world. He co-founded companies like SpaceX (rocket producer), Tesla (electric car maker) and Boring Company (tunnelling startup). A significant portion of his wealth is tied to the success of Tesla. Musk purchased Twitter in October 2022 for $44 billion.

2. World’s Second Wealthiest Person –  Larry Ellison

Larry Ellison, the fifth richest person in the world, aged 80 and resides in the United States. He serves as the co-founder, Chair and CTO of Oracle (ORCL), boasting a substantial net worth of $129 billion. His Oracle ownership stake exceeds 42%, valued at $96.1 billion. Additionally, his diversified assets include $10.7 billion in Tesla equity, a noteworthy public asset and a considerable cash reserve of $21.8 billion.

Larry Ellison holds 2nd position in the real-time billionaire’s list as of October 2024. He owns 35% of software giant Oracle and is its chief technology officer, chairman and co-founder. He left the CEO position at Oracle in 2014. He shifted permanently to Hawaiian Island Lanai and bought it for $300 million. He purchased 3 million Tesla shares and joined its board in December 2018.

3. Third Richest Person in the World – Mark Zuckerberg

As of 2024, Mark Zuckerberg, aged 40 and based in the United States, claims the title of the third richest person in the world who holds the dual roles of CEO and Chair at Meta Platforms (META), amassing a significant net worth of $115 billion. His ownership stake in Meta Platforms stands at 13%, valued at $111 billion, reflecting his influential position in the tech industry. Additionally, Zuckerberg manages a portfolio that includes $4.03 billion in cash, showcasing his strategic approach to wealth management.

Mark Zuckerberg is an American billionaire business magnate, computer programmer, internet entrepreneur and philanthropist. He co-founded the social media website Facebook and its parent company Meta Platforms of which he is the executive chairman, CEO and controlling shareholder.

4. Fourth Richest Person in the World – Jeff Bezos

The fourth richest person in the world – Jeff Bezos, aged 60, resides in the United States and holds the position of Founder and Executive Chair at Amazon (AMZN). His substantial net worth of $171 billion largely stems from a 10% ownership stake in Amazon, valued at $145 billion. Bezos diversifies his portfolio with private assets like Blue Origin ($11.2 billion), The Washington Post ($250 million), Koru ($500 million) and holds $14 billion in cash.

In July 2021, Jeff Bezos decided to give up his role as CEO of the ecommerce powerhouse Amazon while still maintaining his position as chairman.

Bezos owned an aerospace company named The Washington Post and Blue Origin, designing rockets and fled to space in July 2021.

5. Fifth World’s Richest Person – Bernard Arnault

Wealth: $184.7 billion
Country: France
Business: LVMH

Bernard Arnault, Chairman and CEO of LVMH, ranks fifth among the world’s top billionaires. LVMH, a conglomerate of over 70 luxury brands including Louis Vuitton and Christian Dior, acquired Tiffany & Co. for USD 15.8 billion in 2021. Arnault’s children also play vital roles in LVMH’s operations; his daughter Delphine oversees Dior, while his son Frédéric leads the conglomerate’s watch division since January 2024.

6. Sixth Richest Man of the World – Warren Buffet

Warren Buffet, residing in the United States, aged 94, serves as the CEO of Berkshire Hathaway (BRK.A) with a considerable net worth of $119 billion. His ownership stake in Berkshire Hathaway stands at 15%, valued at $118 billion. Complementing this, he holds $1.28 billion in cash, reflecting a strategic approach to wealth management and investment.

Warren Buffet, widely recognised as the “Oracle of Omaha”, is one of history’s most accomplished investors. He is the head of Berkshire Hathaway, an investment conglomerate with a diverse portfolio encompassing numerous companies, such as insurance provider Geico, battery manufacturer Duracell and restaurant chain Dairy Queen.

7. World Seventh Wealthiest Person – Larry Page

Larry Page, aged 51 and residing in the United States, stands as the co-founder and board member of Alphabet (GOOG), boasting a substantial net worth of $119 billion. With a 6% ownership stake in Alphabet, valued at $102.7 billion, Page strategically manages his wealth. Notably, he holds additional assets, including $16.3 billion in cash, indicating a diversified and financially astute approach to his portfolio.

Lawrence Edward Page is an American billionaire business magnate. He is the co-founder of Google with Sergen Brin. He is the co-creator and namesake of PageRank, a search ranking algorithm for Google. He received the Macroni Prize 2004 with co-writer Brin.

8. World Eighth Richest Man – Sergey Brin

Sergey Brin, aged 50 and residing in the United States, the co-founder and board member of Alphabet (GOOG), possesses a substantial net worth of $113 billion. His influence stems from a 6% ownership stake in Alphabet, totaling $96.5 billion. Notably, Brin strategically manages his wealth, including significant assets like $16.4 billion in cash.

Brin is a co-founder of Google with Larry Page. He was the president of Google’s parent company, Alphabet Inc., until stepping down from his role in December 2019.

9. World’s Ninth Wealthiest Man – Amancio Ortega

Amancio Ortega Gaona, aged 88, is a Spanish billionaire and the founder of Inditex, the fashion group known for popular brands like Zara and Bershka. Renowned as a pioneer in fast fashion, Ortega was formerly the chairman of Inditex. As of October 2024, he has a net worth of $122.3 billion, making him the ninth richest person in the world.

10. Eighth Wealthiest Person in the World – Steve Ballmer

Steven Anthony Ballmer is an American businessman and investor. He was the CEO of Microsoft from 2000 to 2014. Currently, he owns the Los Angeles Clippers, a basketball team in the NBA. Ballmer is also a co-founder of the Ballmer Group, a company that focuses on philanthropy and investment. As of now, he is known as the tenth richest person in the world.