The landscape of global wealth continues to shift dramatically, with billionaires now more prominent than ever. In 2024, Forbes has spotlighted a record 2,781 billionaires from 78 countries, underscoring the vast and growing disparity in wealth distribution.
United States Tops the Billionaire List
The United States leads the billionaire count with a staggering 813 individuals, up from 735 the previous year. The combined wealth of these American billionaires has surged to $5.7 trillion, an impressive increase from $4.5 trillion. Elon Musk, CEO of SpaceX and Tesla, retains his position as the world’s richest person, boasting a net worth of $195 billion thanks to his stakes in these high-profile companies.
China’s Billionaire Count Declines
China holds the second spot with 473 billionaires, although this marks a decrease from 495 last year. The total net worth of Chinese billionaires stands at $1.3 trillion, down from $1.67 trillion. Zhong Shanshan, the richest individual in China, has a net worth of $62.3 billion, primarily from his bottled water company, Nongfu Spring, and pharmaceutical investments.
India Reaches Historic High
India has achieved a record high with 271 billionaires, up from 169 last year. The collective net worth of these Indian billionaires has risen to $954 billion, up from $675 billion. Mukesh Ambani, chairman of Reliance Industries, is the richest Indian and ranks 11th globally with a net worth of $116 billion, driven by his conglomerate’s diverse interests.
European Billionaire Counts and Wealth
Germany ranks fourth with 132 billionaires, an increase from 126 last year. Their total net worth has climbed to $644 billion, up from $585 billion. Klaus-Michael Kühne, the wealthiest German, has a net worth of $39.2 billion from his investments in logistics and transportation through Kühne + Nagel.
Russia, in fifth place, has 120 billionaires, up from 105. Their combined wealth totals $537 billion, an increase from $474 billion. Vagit Alekperov is the richest Russian with $28.6 billion, mainly from his leadership role in Lukoil, a major player in the oil and gas industry.
Other Notable Billionaire Rankings
Italy has seen an increase in billionaires to 73, up from 64, with their total wealth growing to $302 billion. Giovanni Ferrero leads with $43.8 billion from his family’s Ferrero Group. Brazil has also made significant strides, reaching 69 billionaires, up from 51, with Eduardo Saverin, valued at $28 billion, topping the list.
Canada’s billionaire count has risen to 67, and their collective wealth has surged to $315 billion. David Thomson and his family, with a net worth of $67.8 billion, lead the Canadian rankings. Hong Kong’s billionaire population has grown to 67, but their total wealth has decreased slightly to $330 billion. Li Ka-shing remains the wealthiest in Hong Kong with $37.3 billion from his diverse investments.
As the distribution of wealth continues to evolve, it’s clear that the largest economies and emerging markets are heavily represented in the billionaire rankings, reflecting a global pattern of wealth accumulation and economic opportunity.