World's top 15 richest business tycoons, as of December 2024
They followed remarkably diverse paths to accumulate their fortunes
Image Credit: AFP | Bloomberg
There are about 2,640 billionaires in the world. Together, they control about $6.4 trillion in assets.
Their success stories span industries from technology and e-commerce to luxury goods, energy, and telecommunications.
Despite their varied business interests, a closer look reveals shared traits in their wealth-building philosophies – a relentless drive for innovation, risk-taking, and the strategic use of leverage and timing.
For many, technological advancement has been a crucial driver while others harnessed traditional industries and global markets, adapting their businesses to new consumer demands.
Here’s the updated list of the world’s 15-richest tycoons as of December 1, 2024, based on Forbes and Bloomberg data:
#1. Elon Musk, 53
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- Net worth: $330 billion
- Source of wealth: Tesla, SpaceX, X (formerly Twitter). He owns about 12% of Tesla excluding options.
- Nationality: US
- The majority of Musk’s wealth stems from his stakes in several high-profile ventures, including Tesla, SpaceX, social media platform X, and his AI firm, xAI. Musk’s 13 per cent ownership in Tesla alone accounts for over $100 billion of his fortune. His net worth saw a notable increase following the reelection of Donald Trump, which boosted investor confidence in sectors tied to Musk’s ventures.
#2. Larry Ellison, 79
Image Credit: AP
- Net worth: $227 billion
- Source of wealth: Oracle
- Nationality: US
- Lawrence Joseph Ellison co-founded software company Oracle Corp. He was Oracle's chief executive officer from 1977 to 2014 and is now its chief technology officer and executive chairman. Ellison got $22 billion wealthier during the month on the back of stronger shares of Oracle, the software company he cofounded and chairs.
#3. Jeff Bezos, 60
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- Net worth: $221 billion
- Source of wealth: Amazon
- Nationality: US
- Bezos founded Amazon, the world's largest online retailer, in 1994 and is the executive chair of the company. He owns 8.8% of the company. He has traditional investments, such as real estate and shares in other companies. He is also the owner of Blue Origin, an aerospace company that develops rockets. In July 2021, Bezos and three others became the first people to successfully fly on a crewed mission from Blue Origin. Bezos also owns The Washington Post.
#4. Mark Zuckerberg, 40
Image Credit: AFP
- Net worth: $198.7 billion
- Source of wealth: Meta Platforms (Facebook)
- Nationality: US
- Zuckerberg co-founded the social media service Facebook and its parent company Meta Platforms, of which he is the chairman, chief executive officer, and controlling shareholder.
#5. Bernard Arnault, 75
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- Net worth: $163.9 billion
- Source of wealth: LVMH (Louis Vuitton Moët Hennessy)
- Nationality: France
- Bernard Jean Étienne Arnault is a French businessman, investor and art collector. He is the founder, chairman and CEO of LVMH, the world's largest luxury goods company.
#6. Sergey Brin, 51
Image Credit: Bloomberg
- Net worth: $153 billion
- Source of wealth: Google (Alphabet)
- Nationality: US
- Brin was born in Moscow on August 21, 1973. He was the president of Alphabet Inc., Google's parent company, until he stepped down in 2019. He remains a co-founder, board member, and major shareholder at Alphabet.
Brin was born in Moscow on August 21, 1973. He was the president of Alphabet Inc., Google's parent company, until he stepped down in 2019. He remains a co-founder, board member, and major shareholder at Alphabet.
#7. Warren Buffett, 94
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- Net worth: $150.6 billion
- Source of wealth: Berkshire Hathaway
- Nationality: US
- Buffett is an American investor, businessman, and philanthropist who is the chairman and CEO of Berkshire Hathaway. He is known as the "Oracle of Omaha" and is one of the world’s most well-known investors.
#8. Steve Ballmer, 68
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- Net worth: $147 billion
- Source of wealth: Microsoft
- Nationality: US
- Ballmer's net worth has increased due to Microsoft's investment in OpenAI, an artificial intelligence company. Ballmer has a 4% stake in Microsoft, and also owns Los Angeles Clippers, The Forum, Intuit Dome. Ballmer was hired by Bill Gates in 1980 and became CEO in 2000. He retired in 2014 and remains on the board of directors until August 2014. Ballmer is a co-founder of Ballmer Group, a philanthropic investment company.
#9. Larry Page, 51
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- Net worth: $142.3 billion
- Source of wealth: Google (Alphabet)
- Nationality: US
- Lawrence Edward Page is an American businessman, computer engineer and computer scientist best known for co-founding Google with Sergey Brin.
#10. Jensen Huang, 61
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- Net worth: $120 billion
- Source of wealth: Nvidia
- Nationality: US
- Huang owns a stake of around 3.5% in the chipmaker Nvidia, with a market cap of more than $3.5 trillion. Nvidia CEO Jensen Huang leapt into the top 10 of Forbes' real-time billionaire rankings on October 21, 2024, a first for the former Denny's busboy and waiter-turned-most-recognisable-name associated with the AI boom.
#11. Mukesh Ambani, 67
Image Credit: Bloomberg
- Net worth: $119 billion
- Source of wealth: Reliance Industries
- Nationality: India
- Ambani is the wealthiest person in Asia. Born on April 19, 1957 in Aden, Yemen, Ambani is the Chairman and managing director of Reliance Industries Limited (RIL), an Indian conglomerate with businesses in petrochemicals, energy, textiles, retail, and telecommunications.
#12. Bill Gates, 69
Image Credit: COP28
- Net Worth: $107.2 billion
- Source of Wealth: Microsoft
- Nationality: US
- In 1999, he became the first ever centibillionaire when his net worth briefly surpassed US$100 billion. Gates' wealth comes from his position as the largest individual shareholder of Microsoft, which he co-founded with Paul Allen in 1975. He still holds a 1.34% stake in the company. Gates has given away an estimated $59 billion. He expects to have given away most of his money in 20 years.
#13. Carlos Slim Helú, 84
Image Credit: AFP
- Net Worth: $91 billion
- Source of Wealth: Telecommunications
- Nationality: Mexico
- Slim's success began in the 1960s when he invested in and founded businesses that became the foundation for Grupo Carso. In 2010, he became the richest man in the world for the first time in 16 years that someone outside the US held the title.
#14. Gautam Adani, 62
Image Credit: AFP
- Net Worth: $82.6 billion
- Source of Wealth: Infrastructure, energy (Adani Group)
- Nationality: India
- Adani is a self-made entrepreneur who started his commodity trading business in 1988. He has expanded into many sectors, including renewable energy, airports, and cement. Adani has faced legal challenges, including an arrest in 2002 and charges of cheating and criminal conspiracy in 2012. In January 2023, Hindenburg Research accused Adani Group of stock manipulation and other financial malpractices. Adani Group denied the allegations and threatened legal action. He has recently been charged in the US over a $250 million bribery case. https://gulfnews.com/business/markets/indian-magnate-gautam-adani-charged-in-us-over-massive-250-million-bribery-scheme-1.1732156114688
#15. Francoise Bettencourt Meyers, 71
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- Net Worth: $73.3 billion
- Source of Wealth: L’Oréal
- Nationality: France
- Françoise Bettencourt Meyers is a French businesswoman, philanthropist, writer, billionaire heiress, and the richest woman in the world, with an estimated net worth of $71.1billion as of November 2024, according to Forbes.