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Meet the 16 people in the $100 billion club — who are jointly worth more than Amazon or Google

17 December 2024 at 04:55
Bezos Musk Arnault Gates
Jeff Bezos, Elon Musk, Bernard Arnault, and Bill Gates are all members of the $100 billion club.

Mandel Ngan, Britta Pedersen, Nicholas Kamm/Getty Images; Elaine Thompson/AP

  • The elite group worth more than $100 billion includes Elon Musk, Jeff Bezos, and Bill Gates.
  • The 16 members have grown almost $900 billion richer this year and are jointly worth $2.8 trillion.
  • Walmart heirs Jim, Rob, and Alice Walton joined the club for the first time in September.

Elon Musk, Jeff Bezos, and Mark Zuckerberg are among the handful of people on the planet with a net worth above $100 billion.

Members of this elite group have amassed 12-digit fortunes by owning huge amounts of stock in some of the world's most valuable companies. Most are founders and either current or former CEOs, andΒ some, such as Warren Buffett,Β would be much richer if they didn't give billions to charity.

The 16 people in this very exclusive club have a combined wealth of about $2.8 trillion, according to the Bloomberg Billionaires Index. They're worth more than Amazon or Google owner Alphabet, which command market values of around $2.4 trillion each.

All but one of them have grown richer this year, adding a net $890 billion to their collective fortunes. Walmart ($762 billion), Eli Lilly ($740 billion), and JPMorgan ($675 billion) are all worth significantly less than that.

Walmart heirs Jim, Rob, and Alice Walton joined the exclusive group in September, thanks to their net worths surging by upward of $43 billion this year.

Here's the list of individuals worth at least $100 billion, showing Bloomberg's estimate on December 16, how much it's changed this calendar year, and the source of their wealth.

1. Elon Musk
Elon Musk smiling.

REUTERS/Danny Moloshok

Net worth: $474 billion

YTD change in wealth: +$245 billion

Source of wealth: Tesla and SpaceX stock

Elon Musk is the CEO of the electric-vehicle maker Tesla and the spacecraft manufacturer SpaceX. He's also the owner of X, the social network formerly known as Twitter. His other businesses include The Boring Company, Neuralink, and xAI.

Musk's wealth has nearly doubled this year β€” surging by $245 billion or almost Jeff Bezos' entire net worth β€” because Tesla stock has jumped by over 85% and SpaceX's valuation has surged to $350 billion, per Bloomberg.

2. Jeff Bezos
Jeff Bezos sitting on a chair.
Jeff Bezos.

Amy Harris/Invision/AP

Net worth: $251 billion

YTD change in wealth: +$74.5 billion

Source of wealth: Amazon stock

Jeff Bezos is the founder, executive chairman, and former CEO of Amazon, the e-commerce and cloud-computing giant.

He also founded the space company Blue Origin and owns The Washington Post.

3. Mark Zuckerberg
Mark Zuckerberg laughing.
Mark Zuckerberg.

Getty

Net worth: $221 billion

YTD change in wealth: +$92.6 billion

Source of wealth: Meta stock

Mark Zuckerberg is the cofounder, chairman, and CEO of Meta Platforms, the social-media titan behind Facebook, Instagram, WhatsApp, and Threads.

Meta's Reality Labs division makes virtual-reality and augmented-reality headsets and experiences.

4. Larry Ellison
Larry Ellison speaking into a microphone and pointing upward.
Oracle cofounder Larry Ellison.

Justin Sullivan/Getty Images

Net worth: $194 billion

YTD change in wealth: +$70.9 billion

Source of wealth: Oracle and Tesla stock

Larry Ellison is the cofounder, chief technology officer, and former CEO of Oracle, an enterprise software company specializing in cloud computing and database platforms.

He invested in Tesla prior to joining the automaker's board in 2018 and made more than 10 times his money on paper by the time his term as a director ended in August 2022.

5. Bernard Arnault
Bernard Arnault.

Reuters

Net worth: $178 billion

YTD change in wealth: -$29.3 billion

Source of wealth: LVMH stock

Bernard Arnault is the founder, chairman, and CEO of LVMH MoΓ«t Hennessy Louis Vuitton. His conglomerate owns a bevy of luxury brands, including Dior, Fendi, Dom PΓ©rignon, Sephora, and Tiffany & Co.

LVMH stock has struggled this year, falling over 10% and eroding Arnault's net worth in the process.

6. Larry Page
Larry Page smiling with the Google logo behind him.

Seth Wenig/AP

Net worth: $175 billion

YTD change in wealth: +$48.2 billion

Source of wealth: Alphabet stock

Larry Page cofounded Google with his Stanford University classmate Sergey Brin in a friend's garage in 1998 and served as CEO until 2001.

He took the reins again between 2011 and 2015 after Google was restructured as a subsidiary of Alphabet alongside other businesses such as YouTube and Waymo.

7. Bill Gates
Bill Gates smiling.

John Lamparski/Getty Images

Net worth: $165 billion

YTD change in wealth: +$23.9 billion

Source of wealth: Microsoft stock

Bill Gates is the cofounder and former CEO of Microsoft, which makes the Office application suite, the cloud-computing platform Microsoft Azure, and Xbox consoles.

He's renowned for his philanthropic work at the helm of the Bill & Melinda Gates Foundation, one of the world's largest charitable entities.

8. Sergey Brin
Sergey Brin

REUTERS/Ruben Sprich

Net worth: $164 billion

YTD change in wealth: +$44.3 billion

Source of wealth: Alphabet stock

Sergey Brin cofounded Google with Page in 1998 and served as the search-and-advertising titan's first president.

He and Page stepped down from their respective roles as Alphabet's president and CEO in 2019.

9. Steve Ballmer
Steve Ballmer waving
Microsoft CEO Steve Ballmer

REUTERS/Lee Jae-Won

Net worth: $156 billion

YTD change in wealth: +$25.4 billion

Source of wealth: Microsoft stock

Steve Ballmer served as Microsoft's CEO between 2000 and 2014. He joined the company in 1980 as Bill Gates' assistant, initially negotiating a profit share, which he later swapped for an equity stake when it became excessively large.

Ballmer retired as CEO in 2014 with a 4% stake β€” a position now worth more than $130 billion. He promptly bought the Los Angeles Clippers for $2 billion and remains the basketball team's owner.

10. Warren Buffett
Warren Buffett eating an ice cream.
Berkshire Hathaway chairman and CEO Warren Buffett enjoys an ice cream treat from Dairy Queen before the Berkshire Hathaway annual meeting in Omaha, Nebraska.

Reuters/Rick Wilking

Net worth: $143 billion

YTD change in wealth: +$23 billion

Source of wealth: Berkshire Hathaway stock

Warren Buffett acquired Berkshire Hathaway when it was a failing textile mill in 1965 and has since grown it into one of the world's largest companies. His nearly 15% stake is worth around $141 billion.

The famed investor's conglomerate owns scores of businesses, including GEICO, See's Candies, and BNSF Railway, and holds multibillion-dollar stakes in public companies such as Apple and Coca-Cola.

Buffett has gifted about half his Berkshire shares to the Gates Foundation and his four family foundations since 2006.

11. Michael Dell
Michael Dell

John Locher/AP

Net worth: $130 billion

YTD change in wealth: +$51.4 billion

Source of wealth: Dell stock

Michael Dell is the founder, chairman, and CEO of the eponymous computer maker. Dell stock has roughly tripled since March last year to $119, valuing the company at over $80 billion, as investors wager it will be a key beneficiary from the AI boom.

Dell owns about 46% of his company, and pocketed well over $10 billion from the sale of Dell-backed VMware to Broadcom last year.

12. Jim Walton
Jim Walton on stage

Walmart

Net worth: $117 billion

YTD change in wealth: +$44.5 billion

Source of wealth: Walmart stock

Jim Walton is the youngest son of Walmart founder Sam Walton, who gave each of his four children a 20% stake in the budding retail business over 70 years ago. Jim and his two surviving siblings, Rob and Alice, each still own over 11% of the company.

Jim's net worth crossed $100 billion in September following an 80% surge in Walmart stock this year.

13. Jensen Huang
Nvidia CEO Jensen Huang.
Nvidia CEO Jensen Huang.

Mohd Rasfan/AFP/Getty Images

Net worth: $115 billion

YTD change in wealth: +$71.4 billion

Source of wealth: Nvidia stock

Jensen Huang cofounded Nvidia in 1993, but the microchip maker has become a market darling within the past two years as its semiconductors have proven pivotal to developing artificial intelligence.

Nvidia's stock price has skyrocketed from under $15 at the end of 2022 to $132. That has boosted the company's value to $3.2 trillion β€” meaning it now rivals Apple as the world's most valuable company β€”and bolstered Huang's superrich status in the process.

14. Rob Walton
Rob Walton on stage

Rick T. Wilking/Getty Images

Net worth: $115 billion

YTD change in wealth: +$43.3 billion

Source of wealth: Walmart stock

Rob Walton, Sam Walton's eldest, sat on Walmart's board for more than 40 years before retiring this June.

His net worth passed $100 billion for the first time in September, making him the second Walton to join the club after his younger brother, Jim.

15. Alice Walton
Alice Walton
Alice Walton in Los Angeles in 2022.

Stefanie Keenan/Getty Images

Net worth: $114 billion

YTD change in wealth: +$43.8 billion

Source of wealth: Walmart stock

Alice Walton is Sam Walton's only daughter, and the world's richest woman after overtaking L'Oréal heiress Françoise Bettencourt Meyers earlier this year.

She joined her brothers, Jim and Rob, in the $100 billion club in September.

16. Amancio Ortega
Amancio Ortega

how-rich.org

Net worth: $104 billion

YTD change in wealth: +$16.9 billion

Source of wealth: Inditex stock

Amancio Ortega is the founder and former chairman of Inditex, a fashion retail group home to brands such as Zara, Bershka, and Massimo Dutti.

The billionaire philanthropist and real-estate investor stopped running Inditex in 2011. His daughter Marta Ortega PΓ©rez was appointed chair at the end of 2021.

Read the original article on Business Insider

The Waltons are once again the world's wealthiest family, beating out Gulf royalty and fashion dynasties

13 December 2024 at 06:03
Alice Walton (Jim out of focus)
Alice Walton (Jim out of focus)

REUTERS/Rick Wilking

  • The Waltons have reclaimed the title of the world's wealthiest family
  • The Walmart family fortune has grown by 66% since last year to a record $432 billion.
  • Jim, Rob, Alice, and the other Waltons are richer than the royal families of Abu Dhabi and Qatar.

The Waltons are once again the world's wealthiest family, ranking ahead of Gulf royalty, luxury fashion houses, and industrial dynasties.

The heirs to the Walmart fortune have grown their wealth by 66% since last year to a record $432 billion as of December 5, meaning they've regained the No.1 spot on Bloomberg's annual list of the world's richest families.

That wealth figure exceeds the market value of some of America's biggest companies including Home Depot ($412 billion), Procter & Gamble ($402 billion), and Netflix ($396 billion).

Abu Dhabi's ruling family, the Al Nahyans, topped the ranking last year with an estimated $305 billion fortune that dwarfed the Waltons' $260 billion. The two clans switched places this year with the Al Nahyans now worth $324 billion, more than $100 billion less than the Waltons.

Qatar's ruling dynasty, the Al Thanis, placed third this year with $173 billion to their name. France's Hermès family, which includes the Birkin maker's artistic director and executive chairman, landed in fourth with $171 billion. Rounding out the top five were the Kochs, the legendary US industrialists worth an estimated $149 billion.

The richest families on the planet also include Saudi Arabia's rulers, candy dynasties Mars and Ferrero, and the Wertheimer family behind Chanel.

Family fortunes

Walmart founder Sam Walton's three surviving children β€” Jim, Rob, and Alice β€” have each grown about $43 billion richer this year, per the Bloomberg Billionaires Index.

The trio joined the $100 billion club in September and ranked among the 15 richest people on the planet as of December 12 with north of $112 billion to each of their names.

Lukas and Christy Walton, the son and widow of Sam's late son, John T. Walton, also feature on Bloomberg's rich list with net worths of about $40 billion and $18 billion each.

The five Waltons' combined fortune has ballooned by more than $150 billion this year, representing a big chunk of the 25 richest families' total wealth gain of $407 billion.

The Walton family's wealth bump has been fueled by a roughly 80% surge in the retailer's stock price this year. Sam Walton gave each of his four children a 20% stake in the family enterprise early on, and his three surviving kids each own upward of 11% of Walmart β€” now a company valued north of $750 billion β€” through a family trust. They've also raked in more than $15 billion from stock sales and dividends over the years, Bloomberg says.

Read the original article on Business Insider

Elon Musk is worth nearly $500 billion after doubling his money this year. Meet the world's 10 biggest wealth gainers.

18 December 2024 at 04:44
Mark Zuckerberg attending the UFC 300 event in Las Vegas; Elon Musk attending the annual Breakthrough Prize ceremony in Los Angeles.
Tesla CEO Elon Musk (right) and Meta CEO Mark Zuckerberg lead the list of biggest wealth gainers this year.

Jeff Bottari/Zuffa LLC via Getty Images; Steve Granitz/FilmMagic via Getty Images

  • The world's 10 biggest wealth gainers have grown $790 billion richer in 2024.
  • Elon Musk leads the list with a $257 billion gain that has boosted his net worth to $486 billion.
  • Mark Zuckerberg, Jeff Bezos, Larry Ellison, and Jensen Huang are all up more than $70 billion.

Ten people have grown their personal fortunes by a combined $790 billion this year β€” a figure larger than the market value of Walmart ($767 billion).

The biggest wealth gainers of 2024 include Tesla CEO Elon Musk, Meta CEO Mark Zuckerberg, Amazon chairman Jeff Bezos, Oracle chairman Larry Ellison, and Nvidia CEO Jensen Huang, according to the Bloomberg Billionaires Index.

The buzz around artificial intelligence, a solid outlook for the US economy, and market expectations about Donald Trump's second term in office have boosted their companies' stock prices, benefiting them as major shareholders.

Here are the 10 greatest wealth builders this year as of the market close on Tuesday, December 17.

1. Elon Musk
Elon Musk Feb 2024 Los Angeles
Elon Musk is the CEO of Tesla and SpaceX.

Lisa O'Connor/AFP/Getty Images

Year-to-date wealth gain: $257 billion

Net worth: $486 billion

Source of wealth gain: Tesla and SpaceX stock

Elon Musk is the CEO of automaker Tesla and spacecraft manufacturer SpaceX. He's also the owner of X, the social network previously known as Twitter, along with Neuralink, xAI, and The Boring Company.

Musk's $257 billion wealth gain this year exceeds the total net worth of Jeff Bezos, the second-richest person on the planet. The serial entrepreneur could soon become the first individual to amass a $500 billion fortune.

2. Mark Zuckerberg
Mark Zuckerberg
Mark Zuckerberg.

Getty Images

Year-to-date wealth gain: $90.9 billion

Net worth: $219 billion

Source of wealth gain: Meta stock

Mark Zuckerberg is the cofounder and CEO of Meta, the parent company of Facebook, Instagram, WhatsApp, and Threads.

Meta stock has soared 75% this year as investors wager Zuckerberg's big bets on AI and the metaverse will pay off in the years ahead. Zuckerberg has added about $90 billion to his net worth as a result, propelling him into third place on Bloomberg's rich list.

3. Jeff Bezos
Jeff Bezos
Jeff Bezos.

Amy Harris/Invision/AP

Year-to-date wealth gain: $72.9 billion

Net worth: $250 billion

Source of wealth gain: Amazon stock

Jeff Bezos is Amazon's founder, executive chairman, and former CEO.

Amazon shares have leaped 52% this year as investors bet the online retailer can harness AI to supercharge its sales and leverage Amazon Web Services to become a key provider of cloud infrastructure to AI companies.

4. Larry Ellison
Larry Ellison, a billionaire cofounder of Oracle.
Larry Ellison, the billionaire founder of Oracle.

Phillip Faraone/Getty Images

Year-to-date wealth gain: $70.4 billion

Net worth: $193 billion

Source of wealth gain: Oracle and Tesla stock

Larry Ellison is the cofounder, executive chairman, and chief technology officer of Oracle, one of the largest enterprise software companies.

Oracle stock has jumped 61% this year as the company has emerged as a key provider of cloud data centers for AI businesses, fueling a $70 billion increase in Ellison's net worth.

Ellison purchased more than 1.5% of Tesla prior to joining its board in December 2018, making him the electric-vehicle maker's second-largest individual shareholder after Musk. He's believed to have retained his stake, now worth upward of $20 billion, since resigning as a director in 2022.

5. Jensen Huang
Jensen Huang speaking on stage

Chip Somodevilla/Getty Images

Year-to-date wealth gain: $70 billion

Net worth: $114 billion

Source of wealth gain: Nvidia stock

Jensen Huang is the founder and CEO of Nvidia, the graphics chip maker that has emerged as a critical seller of "picks and shovels" to the AI gold rush.

Nvidia's stock has surged 163% this year, making it one of the world's most valuable companies with a $3.2 trillion market value and lifting Huang'sΒ net worthΒ by $70 billion.

6. Michael Dell
Michael Dell

John Locher/AP

Year-to-date wealth gain: $48.9 billion

Net worth: $127 billion

Source of wealth gain: Dell Technologies stock

Michael Dell is the founder and CEO of Dell Technologies, the maker of PCs, printers, and other computing equipment.

Dell shares have soared 55% this year as the company has shifted its focus toward AI-powered devices and servers.

7. Larry Page
Larry Page speaks during the Fortune Global Forum at the Legion Of Honor on November 2, 2015 in San Francisco, California.
Larry Page.

Kimberly White/Getty Images for Fortune

Year-to-date wealth gain: $47.4 billion

Net worth: $174 billion

Source of wealth gain: Alphabet stock

Larry Page cofounded Google in 1998 and was the company's CEO until 2001 and again between 2011 and 2015 after Google was restructured as a subsidiary of Alphabet.

Alphabet shares have surged 40% this year as investors wager the search-and-advertising titan can dominate AI. The stock jump has fueled a $47 billion rise in Page's net worth.

8. Jim Walton
Jim Walton, Alice Walton, and Rob Walton cheering in a crowd.
Jim Walton, Alice Walton, and Rob Walton cheer at the annual shareholders meeting for Walmart in Fayetteville, Arkansas.

REUTERS/Rick Wilking

Year-to-date wealth gain: $45.1 billion

Net worth: $118 billion

Source of wealth gain: Walmart stock

Jim Walton is the youngest son of Walmart founder Sam Walton and, like his siblings, one of the retailer's largest shareholders with an 11%-plus stake.

Walmart stock has climbed 82% this year, fueled by resilient consumer spending in the face of historic inflation and soaring interest rates in recent years. The surge led to Walton amassing a $100 billion fortune for the first time in September.

9. Alice Walton
Alice Walton
Alice Walton is one of the heirs to the Walmart fortune.

Stefanie Keenan/Getty Images

Year-to-date wealth gain: $44.4 billion

Net worth: $114 billion

Source of wealth gain: Walmart stock

Alice Walton is the only daughter of Walmart founder Sam Walton.

She overtook L'Oréal heiress Françoise Bettencourt Meyers in August to become the world's richest woman.

10. Rob Walton
Rob Walton on stage

Rick T. Wilking/Getty Images

Year-to-date wealth gain: $43.8 billion

Net worth: $115 billion

Source of wealth gain: Walmart stock

Rob Walton is the eldest son of Sam Walton and an heir to the Walmart fortune.

He and his siblings owe a big chunk of their wealth to their father, who handed them each a 20% stake in the family business over 70 years ago instead of having them inherit his fortune upon his death, in turn avoiding paying billions of dollars in estate taxes.

Read the original article on Business Insider

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