$730B: Top 10 billionaire gainers in 2024

The year 2024 was a banner moment for billionaires, with markets soaring and fortunes swelling. The world's wealthiest individuals added more than $700 billion to their collective net worth, with the top 10 gainers alone accounting for a staggering $730 billion, as per Forbes.

Here’s a closer look at the billionaires who gained the most wealth this year.

1. Elon Musk

Source of wealth: Tesla, SpaceX, X, Neuralik, Boring Co
Net worth: $439 billion (+$188.1 billion)

Elon Musk shattered records in 2024, becoming the first person to surpass a $400 billion net worth. This remarkable milestone came as SpaceX’s valuation skyrocketed to $350 billion after a buyback deal. Shares of Tesla also surged by 68 per cent, while his AI startup, xAI, was valued at $50 billion. Musk’s influence extended beyond tech, as he became a prominent figure in US politics, donating $200 million to Donald Trump’s reelection campaign and co-chairing a new government advisory board.

2. Mark Zuckerberg

Source of wealth: Meta (Facebook, Instagram, WhatsApp)
Net worth: $214.4 billion (+$91.8 billion)

After significant losses in 2022, Zuckerberg made a stunning comeback in 2024, with Meta shares climbing 67 per cent. He became the fourth billionaire in history to surpass $200 billion in net worth.

3. Larry Ellison

Source of wealth: Oracle
Net worth: $218.3 billion (+$84.5 billion)

Oracle’s chairman and CTO saw his wealth soar thanks to a 68% rise in Oracle stock, driven by enthusiasm for AI technology. Ellison briefly became the world’s second-richest person this year.

4. Jensen Huang

Source of wealth: Nvidia
Net worth: $117.2 billion (+$74.3 billion)

Nvidia’s AI chips have been a massive success, with shares rising 185%. Huang, Nvidia’s CEO, joined the ranks of the top 10 richest individuals for the first time.

5. Jeff Bezos

Source of wealth: Amazon
Net worth: $241.2 billion (+$68.9 billion)

Amazon stock rose by 53% in 2024, adding nearly $70 billion to Bezos’ fortune. Strategic share sales and a move to Florida saved Bezos an estimated $1 billion in taxes.

6. Michael Dell

Source of wealth: Dell Technologies, Broadcom
Net worth: $115.3 billion (+$46.6 billion)

Dell benefited from the merger of VMware with Broadcom, with his holdings in both companies driving his wealth higher. Dell Technologies shares also rose by over 50%.

7. Rob Walton

Source of wealth: Walmart
Net worth: $112.5 billion (+$46.5 billion)

8. Jim Walton

Source of wealth: Walmart
Net worth: $111.3 billion (+$44.5 billion)

9. Alice Walton

Source of wealth: Walmart
Net worth: $103.5 billion (+$41.7 billion)

The Walton siblings saw their fortunes rise as Walmart’s stock soared nearly 80 per cent in 2024, fueled by e-commerce growth and improving consumer prices. Alice Walton became the world’s richest woman this year.

10. Larry Page

Source of wealth: Google
Net worth: $156.6 billion (+$40.5 billion)

Despite antitrust concerns for Alphabet, Page’s wealth increased significantly as Google shares rose by over 30 per cent.

Record-breaking year

Seven of the top 10 gainers in 2024 hail from the tech sector, showcasing the dominance of AI and innovation in driving wealth creation.

With Musk leading the way, these billionaires exemplify the extraordinary financial gains possible in a booming market.