The latest 2024 Global Rich List, compiled by Hurun Research, reveals a sharp rise in billionaire numbers and total wealth, reaching an unprecedented US$15 trillion. While some industries experienced remarkable growth, others faced notable declines. With data indicating a surge in fortunes across various sectors, the report sheds light on the evolving landscape of global wealth distribution.
Here are the key findings of the report :
The number of billionaires worldwide has increased by 5% to 3,279, a rise of 167 from the previous year.
Total wealth among billionaires has surged by 9% to reach a staggering US$15 trillion.
Sources of wealth among billionaires vary, with the majority of their fortunes made in financial services (10%), followed by consumer goods (8%), food & beverages (7%), and real estate (7%).
Media & entertainment experienced significant growth, adding US$226 billion, surpassing software & services (US$149 billion), financial services (US$118 billion), and retail (US$104 billion).
Conversely, healthcare saw a decline, losing US$75 billion, followed by industrial products (US$46 billion), food & beverages (US$40 billion), and real estate (US$32 billion).
A noteworthy 59 individuals saw their wealth increase by US$5 billion or more, marking a substantial rise from 31 individuals last year.
Among billionaires aged forty or under, 93 individuals were identified, including 61 self-made billionaires and 32 who inherited their wealth. Notably, 8 billionaires are under 30, with Clemente Del Vecchio of EssilorLuxottica leading the pack with US$4.6 billion at just 19 years old. Ryan Breslow of Bolt is the youngest self-made billionaire at 29 years old, with US$1.3 billion.
There are 218 self-made women billionaires, down by 29 from the previous year. China remains the dominant country with 74% of self-made women billionaires. Diane Hendricks, known as the 'Roofing Queen' from Oklahoma, tops the list as the richest self-made woman for the second consecutive year with US$22 billion, while Françoise Bettencourt Meyers of L'Oréal holds the title of the richest woman in the world with US$91 billion.
Immigrant billionaires represent 15.4% of the total, up from 13.7% last year and 10% five years ago. The USA leads with 144 immigrant billionaires, followed by 67 in the UK and 60 in Switzerland. Notable immigrants include Elon Musk (born in South Africa), Sergey Brin (born in Russia), and Jensen Huang (born in Taiwan).
Among the wealthiest families, 118 have maintained their billionaire status for four generations or more, indicating a generational continuity and legacy. This number has increased by 7 from the previous count.
