Elon Musk, the CEO of Tesla, has solidified his position as the world’s wealthiest individual. A significant 29% surge in Tesla’s stock has raised Musk’s net worth to $314 billion. His wealth has increased by $84.7 billion this year, putting him far ahead of Amazon’s Jeff Bezos, who holds a net worth of $230 billion.
However, Musk isn’t the top earner of 2024. That distinction goes to Jensen Huang, the CEO of NVIDIA. Huang’s net worth has risen by $84.8 billion this year, slightly edging out Musk’s gains. Despite this, Huang’s total wealth stands at $129 billion, ranking him 11th on the global rich list.
NVIDIA’s outstanding performance in 2024 has played a key role in Huang’s wealth growth. The company’s market capitalization recently surpassed Apple’s, reaching $3.621 trillion, making it the most valuable company globally. Huang, who owns a 3% stake in NVIDIA, has greatly benefited from this surge.
Other notable earners include Meta CEO Mark Zuckerberg, whose net worth grew by $80.5 billion to $209 billion, and Oracle founder Larry Ellison, who added $79.4 billion, bringing his total to $202 billion.
While some billionaires saw gains, others faced setbacks. LVMH’s Bernard Arnault experienced the steepest decline, losing $35.3 billion this year, with his net worth now at $172 billion, placing him fifth globally. Other significant losses were recorded by Carlos Slim of Mexico, Francoise Bettencourt Meyers of France, and Zhong Shanshan of China, who collectively lost billions in 2024.
While Musk continues to dominate in terms of wealth, Huang’s rise underscores the growing impact of technology-driven fortunes on the global economy.