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.
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 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 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.
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.
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.
