Each year, Forbes unveils its highly anticipated list of the world’s billionaires. This ranking doesn’t just highlight wealth—it reveals power, influence, and the shifting currents of global economics. The 2024 list continues this tradition, showcasing the top 20 individuals who stand out across various industries, innovations, and remarkable achievements.
The Forbes Billionaire list offers detailed profiles of these ultra-wealthy individuals, including their net worth, sources of wealth, and notable accomplishments. It covers a range of categories—from self-made entrepreneurs and inherited fortunes to tech giants. Updated regularly to reflect market changes and financial activities, the list gives us a snapshot of global wealth and the major players shaping the financial world.
Inspired by the Forbes list, we created a detailed analysis to dive deeper into the world of billionaires. Our analysis examines not only the top 20 billionaires but also explores wealth distribution by age group, gender, and other relevant categories. By dissecting these elements, we aim to provide a more comprehensive understanding of global wealth trends and the diverse backgrounds of the individuals shaping today’s financial landscape.
Our analysis draws inspiration from these stories, aiming to show more insights into the dynamics of extreme wealth.
Here are some insights we picked up from our analysis;
1. Age and Wealth: A Generational Divide;
Examining billionaires by age reveals clear trends. The 60-79 age group holds the majority of global wealth, totaling a staggering $3.3 trillion. This age group represents the peak of wealth accumulation over a lifetime.
Next are the 80-99 year-olds, with a net worth of $1.4 trillion. Their wealth reflects the long-term success of early investments and effective family wealth management. The 40-59 age group, often at their peak earning years, have accumulated $1.3 trillion. Their wealth underscores their crucial role in generating and managing wealth.
2. The Role of Family Dynasties;
Family legacies play a major role in maintaining and growing vast fortunes. Among the top 20 billionaires, four prominent families stand out:
Bernard Arnault & Family: With a combined net worth of $233 billion, the Arnault family is a symbol of luxury and successful family businesses in fashion and retail.
Carlos Slim Helu & Family: The Slim family’s wealth totals $102 billion, highlighting their influence in telecommunications and investments.
Jim Walton & Family: At $78 billion, the Walton family’s wealth showcases Walmart’s retail empire’s lasting success.
Rob Walton & Family: With $77 billion, the Walton family benefits from Walmart’s growth and global reach.
These family dynasties highlight the power of long-standing business ventures and the importance of managing wealth across generations.
3. Gender Disparity: A Persistent Gap
Gender disparity remains a significant issue among the world’s billionaires. Of the 200 billionaires, only 22 are women, making up just 11% of the total. In the top 20, this gap is even wider, with only one female billionaire—Francoise Bettencourt Meyers. This imbalance underscores ongoing challenges in achieving equal opportunities for women in wealth creation and leadership.
While progress is being made, the path to closing this gap is still long and complex.
4. Comparing the Forbes Billionaires Lists: 2023 vs. 2024
It is intriguing to see how the world’s richest people have changed over the past year. Forbes’ billionaires list for 2023 and 2024 offers a fascinating snapshot of these shifts. Here’s a look at who stayed on top, who dropped off, and who made a new appearance.
-People Who Appeared in Both Years:
Several billionaires have managed to keep their place in the top ranks from 2023 to 2024:
Zhang Yiming: Founder of ByteDance maintains his position.
Bernard Arnault & Family: Chairman and CEO of LVMH, continues to lead as one of the wealthiest people globally.
Elon Musk: The CEO of Tesla and SpaceX remains a fixture at the top.
Jeff Bezos: Founder of Amazon stays strong in the rankings.
Bill Gates: The Microsoft co-founder holds his position.
Warren Buffett: The investment guru and CEO of Berkshire Hathaway remains prominent.
Larry Ellison: Co-founder and CTO of Oracle is still on the list.
Mark Zuckerberg: CEO of Meta Platforms retains his spot.
Larry Page: Co-founder of Google remains influential.
Sergey Brin: Also a co-founder of Google, continues to be among the top.
Mukesh Ambani: The chairman of Reliance Industries keeps his place.
Steve Ballmer: Former CEO of Microsoft is still included.
Jim Walton: Walmart heir and Arvest Bank chairman remains on` the list.
Alice Walton: Walmart heiress stays prominent.
Rob Walton: Another Walmart heir is still featured.
Françoise Bettencourt Meyers & Family: L’Oréal heiress continues to be in the top ranks.
Michael Bloomberg: The founder of Bloomberg LP is still on the list.
A few notable billionaires did not make the list in 2024. These include:
Sam Walton: The Walmart founder, whose descendants still feature, is no longer in the top 20.
S. Robson Walton: Another Walmart heir who was listed in 2023 but did not appear in 2024.
-New Faces in 2024
Several new billionaires have emerged in 2024 who weren’t on the 2023 list:
Carlos Slim Helú & Family: The Honorary Chairman of América Móvil joins the list this year.
Amancio Ortega: The founder of Inditex (Zara) makes a new appearance in the top 20.
The Forbes 2024 Billionaires List offers a fascinating glimpse into how wealth is shaped by age, family legacies, and gender.
But what do you think? Are there any trends or stories that surprised you? Share your thoughts and join the conversation in the comments below!Want to read more reports? Check out our Top Billionaires in Africa Blog post.