PHOTO: THE DAILY PAKISTAN
The Richest In 2024
This year marked a historic pinnacle for the billionaire elite, as their collective wealth reached unprecedented heights, solidifying their status as the wealthiest individuals on the planet.
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In the face of global turmoil including conflicts, political instability, and persistent inflation, the fortunes of billionaires continued their meteoric rise. The ranks of the billionaire class swelled to an all-time high of 2,781 individuals, surpassing previous records by 141, with an additional 26 joining their ranks since 2021. Their combined wealth surged to a staggering $14.2 trillion, marking a $2 trillion increase from the previous year and surpassing the previous record set in 2021 by $1.1 trillion.
The majority of billionaires saw their fortunes grow, with two-thirds experiencing an increase in wealth compared to the previous year. Notably, the top 20 billionaires collectively added $700 billion to their wealth since 2023, contributing significantly to the overall increase. The United States emerged as the epicenter of billionaire wealth, boasting a record 813 individuals with a combined net worth of $5.7 trillion. Meanwhile, China, despite facing challenges such as sluggish consumer spending and a downturn in real estate, maintained its position as the second-largest hub of billionaire wealth with 473 individuals (including Hong Kong), totaling $1.7 trillion. India, with a record 200 billionaires, secured the third position.
Calculations of net worth were based on stock prices and exchange rates as of March 8, 2024. For the complete list of the world’s billionaires and the methodology used in our calculations, refer below. Real-time updates on the net worth of all 2,781 billionaires are available in our daily updated billionaires rankings.