Elon Musk Leads the Pack
Elon Musk has solidified his position as the richest person in the world, seeing his wealth surge by $66 billion in November alone, driven by a rise in Tesla’s stock and the valuation of his AI startup, xAI. Musk’s fortune, now standing at $330 billion, represents a significant milestone, surpassing $300 billion for the first time in two years. On November 22, his net worth peaked at $334 billion before settling slightly lower by December 1.
Tesla’s stock soared after Donald Trump’s victory in the U.S. presidential election on November 6, as investors anticipated stronger ties between Musk and the incoming administration. Musk’s fortune has expanded by 25% over the month, extending the gap between him and the second-richest person to over $100 billion.
Larry Ellison’s Rise
Oracle co-founder Larry Ellison saw his fortune grow by $22 billion in November, making him the second-biggest gainer among the top ten. With a net worth of $227 billion, Ellison remains second on the list, just ahead of Amazon’s Jeff Bezos. Oracle shares have been a key factor in Ellison’s wealth increase.
Jeff Bezos in Third Place
Amazon founder Jeff Bezos, now worth $223 billion, experienced a $19 billion increase in November following an 11% rise in Amazon’s stock price. Despite controversies surrounding his ownership of The Washington Post, Bezos continues to maintain his position among the wealthiest individuals globally.
Overall Growth in Wealth
The world’s top 10 richest individuals’ combined wealth reached $1.81 trillion as of December 1, up by $106 billion from the previous month. This increase aligns with broader stock market gains following Trump’s election victory, with the S&P 500 and Nasdaq indices rising by 3.6% and 3.5%, respectively.
Other Key Figures
Mark Zuckerberg (No. 4) added $2.4 billion to his wealth, now totaling $199 billion, thanks to slight gains in Meta’s shares.
Bernard Arnault (No. 5), chairman of LVMH, saw his fortune decline by $9 billion, dropping to $160 billion. This follows weaker demand in China, which has impacted luxury goods sales.
Warren Buffett (No. 6) gained $8.6 billion in November, raising his net worth to $151 billion. The “Oracle of Omaha” climbed one spot in the rankings.
Larry Page (No. 7) and Sergey Brin (No. 8) of Alphabet experienced small declines in their fortunes due to regulatory pressures on Google.
Steve Ballmer (No. 9) saw his wealth increase by $3.9 billion to $125 billion, boosted by a rise in Microsoft shares.
Amancio Ortega (No. 10), the Spanish founder of Inditex, holds a net worth of $124 billion, though he slipped one spot from last month.
The Top 10 Richest People in the World (as of December 1, 2024):
Elon Musk – $330 billion (Tesla, SpaceX, xAI, X)
Larry Ellison – $227 billion (Oracle)
Jeff Bezos – $223 billion (Amazon)
Mark Zuckerberg – $199 billion (Meta)
Bernard Arnault – $160 billion (LVMH)
Warren Buffett – $151 billion (Berkshire Hathaway)
Larry Page – $140 billion (Google/Alphabet)
Sergey Brin – $134 billion (Google/Alphabet)
Steve Ballmer – $125 billion (Microsoft, Clippers)
Amancio Ortega – $124 billion (Inditex/Zara)
The rankings reflect the shifting dynamics of global wealth, heavily influenced by market movements and individual business successes.
(FORBES)
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