Editor: Linda Majid
U.S. business magazine Forbes has recently published the ranking of the world's richest people in January 2024, and it suggests that global entrepreneurs are experiencing a decline in the value of their net worth early this year.
While several billionaires have lost some of their wealth, the ranking has not changed significantly compared to the previous month, December 2023.
Here is a list of the top 10 richest people in the world in January 2024, with a combined fortune of nearly US$1.47 trillion. This figure and the other currency values mentioned in this article are accurate as of January 18, 2024.
1. Elon Musk
The world's richest individual in January 2024 is Elon Musk. He is the CEO of Tesla, the leading electric car manufacturer worldwide. He also has shares in the private space exploration company SpaceX and the social media company X (formerly Twitter).
As of January 18, 2024, Elon Musk's net worth was US$227.8 billion, down about 1.35 percent, or US$3.1 billion, from the previous month.
2. Bernard Arnault and Family,
Bernard Arnault who is the CEO and chairman of the world's largest luxury goods company, Moët Hennessy Louis Vuitton (LVMH), saw his net worth drop by US$4.9 billion or 2.73 percent to US$175.1 billion, just like Elon Musk.
LVMH owns approximately 70 renowned fashion and cosmetics brands, including Louis Vuitton, Christian Dior, Moet & Chandon, and Sephora. In January 2021, LVMH acquired jewelry company Tiffany & Co. for US$15.8 billion.
3. Jeff Bezos
Jeff Bezos is a global entrepreneur who once served as the CEO of the world's largest e-commerce company, Amazon. He resigned from his post in 2021. His assets amounted to US$174 billion, down around 0.82 percent or US$1.4 billion
4. Larry Ellison
Larry Ellison is the tycoon behind the software company Oracle. He served as Chief Technology Officer (CTO) of Oracle and then ventured into investments, including a substantial stake in Tesla, where he served on the board of directors from 2018 to 2022. His total wealth was recorded at $134.9 billion, a decrease of $347 m8illion, or 0.26 percent.
5. Mark Zuckerberg
Facebook founder Mark Zuckerberg has become the world’s fifth richest person, surpassing Bill Gates and Warren Buffett. He started the social media platform in 2004 at the age of 19. He also owns Instagram, WhatsApp, and Threads under Meta Platforms.
Unlike other global entrepreneurs who experienced a decline in their assets early this year, Mark Zuckerberg recorded a surplus of about 0.24 percent or US$316 million, making his total net worth US$130.2 billion.
6. Bill Gates
Bill Gates, the founder and former CEO of Microsoft, has been among the world's top richest people for 25 years, from 1995 to 2017, with brief exceptions in 2008 and from 2010 to 2013. He also has many investments in various companies. His fortune as of January 18, 2024, was US$120 billion.
7. Warren Buffett
Known as the 'Oracle of Omaha', Warren Buffett is among the greatest investors in history. He runs Berkshire Hathaway, an investment conglomerate with a diverse portfolio, consisting of numerous companies, including insurance provider Geico and battery manufacturer Duracell. His net worth amounted to US$119.2 billion.
8. Larry Page
Larry Page co-founded Google in 1998 and served as CEO from 2011-2015. At present, he is a member of the board of directors of Alphabet, Google's parent company. His total wealth was around US$118.7 billion.
9. Steve Ballmer
Steve Ballmer was Bill Gates’ classmate at Harvard University. He was also the CEO of Microsoft in 2000-2014. Apart from that, he made investments in various fields including the NBA and the Los Angeles Clippers basketball clubs. Steve Ballmer's net worth reached US$115.4 billion.
10. Sergey Brin
Sergey Brin ranks tenth in the Forbes list of ten richest people in the world this January. He co-founded the popular search engine company Google with Larry Page. In December 2019, he stepped down as President of Alphabet, Google's parent company, but remains a controlling shareholder and a board member. His net worth hit US$113.8 billion.
News Editor: Linda Majid
