Money drives the world, and in 2024, there will be more of it globally than ever before. The Forbes World’s Billionaires list now boasts a record 2,781 individuals, collectively worth an unprecedented $14.2 trillion. They come from 78 countries, up from 77 in 2023.
The U.S. leads with the most billionaire citizens, counting 813 individuals worth a total of $5.7 trillion, both record figures. America’s billionaire class gained $1.2 trillion this year, partly due to 97 new or returning members, including Taylor Swift, NBA legend Magic Johnson, and OpenAI CEO Sam Altman. Fourteen of the world’s 20 richest people are U.S. citizens, including eight of the top ten. However, the world’s richest person is once again France’s Bernard Arnault, CEO of luxury goods giant LVMH, with an estimated worth of $233 billion.
China ranks second with 406 billionaires worth $1.3 trillion, a decline from 496 billionaires worth $1.67 trillion last year. A significant property slump and a stock market rout have reduced the fortunes of China’s ultra-rich over the past three years. An additional 67 billionaires from Hong Kong add another $330 billion.
India, now the world’s most populous country, ranks third. The nation saw a record 200 billionaires this year, including 25 newcomers, with a collective worth of $954 billion—a more than 40% increase from $675 billion last year. Two Indians made the top 20: Mukesh Ambani, chairman of Reliance Industries, at No. 9, and Gautam Adani, chairman of the Adani Group, at No. 17.
Germany holds the fourth position with 132 billionaires, up from 126 last year. German billionaires are $59 billion richer as a group compared to a year ago. Newcomers include Martin Klenk, Bastian Nominacher, and Alexander Rinke, cofounders of Munich-based data processing company Celonis.
Rounding out the top five is Russia, which has increased its number of billionaires to 120—a rise of 15 from last year and 37 from 2022. Despite ongoing challenges, Russian billionaires, including German Khan and others, collectively hold a net worth of $537 billion. This marks a $217 billion increase since 2022 when sanctions were imposed following the invasion of Ukraine.
This year saw Luxembourg join the list. The tiny European nation, known as a tax haven, now has a billionaire in Michael Gans, the Luxembourg-born minority owner of Supreme Group, a food, fuel, and logistics provider based in the Netherlands. Uruguay also makes a return with Andres Bzurovski Bay and Sergio Fogel, cofounders of the Montevideo-based international payments startup dLocal, who had dropped off the list in 2023.
Countries and Territories with the Most Billionaires
- United Kingdom
- Total billionaires: 55 (up from 52 last year)
- Total net worth: $225 billion (up from $202 billion)
- Richest person: Michael Platt, $18 billion
- Hong Kong
- Total billionaires: 67 (up from 66 last year)
- Total net worth: $330 billion (down from $350 billion)
- Richest person: Li Ka-Shing, $37.3 billion
- Canada
- Total billionaires: 67 (up from 63 last year)
- Total net worth: $315 billion (up from $245 billion)
- Richest person: David Thomson & family, $67.8 billion
- Brazil
- Total billionaires: 69 (up from 51 last year)
- Total net worth: $231 billion (up from $160 billion)
- Richest person: Eduardo Saverin, $28 billion
- Italy
- Total billionaires: 73 (up from 64 last year)
- Total net worth: $302 billion (up from $216 billion)
- Richest person: Giovanni Ferrero, $43.8 billion
- Russia
- Total billionaires: 120 (up from 105 last year)
- Total net worth: $537 billion (up from $474 billion)
- Richest person: Vagit Alekperov, $28.6 billion
- Germany
- Total billionaires: 132 (up from 126 last year)
- Total net worth: $644 billion (up from $585 billion)
- Richest person: Klaus-Michael Kuehne, $39.2 billion
- India
- Total billionaires: 200 (up from 169 last year)
- Total net worth: $954 billion (up from $675 billion)
- The richest person: Mukesh Ambani, $116 billion
- China
- Total billionaires: 406 (down from 495 last year)
- Total net worth: $1.3 trillion (down from $1.67 trillion)
- Richest person: Zhong Shanshan, $62.3 billion
- United States
- Total billionaires: 813 (up from 735 last year)
- Total net worth: $5.7 trillion (up from $4.5 trillion)
- Richest person: Elon Musk, $195 billion
