Forbes Richest List 2024: Bernard Arnault retains title as World's richest person with $233 bn fortune; Report records 2781 billionaires worldwide (2024)
Bernard Arnault, the renowned chairman and CEO of luxury conglomerate LVMH Moët Hennessy Louis Vuitton SA, has once again secured the top spot on Forbes' World's Billionaires list for the second consecutive year. With an estimated fortune of $233 billion, Arnault maintains a substantial lead of $38 billion over his closest competitor, Elon Musk. This impressive increase in wealth is attributed to another exceptional year for LVMH, which reported a net profit of $16.5 billion on revenues of $94 billion in 2023.
Arnault's journey to becoming the world's wealthiest individual is marked by strategic acquisitions and visionary leadership. He first appeared on the billionaires list in 1997 with a fortune of $3.1 billion. Over the years, he has transformed LVMH into a powerhouse, acquiring iconic brands such as Tiffany & Co. and collaborating with global stars like Rihanna. In a significant milestone, LVMH became the first European company to achieve a market capitalization of $500 billion in April 2023.
Focus on Succession Planning At 75 years old, Arnault is keenly focused on ensuring the continuity of his legacy and family control over LVMH. In a move to solidify this plan, he has proposed adding his sons Alexandre and Frédéric to LVMH's board, alongside his two eldest children, Antoine and Delphine. This follows a strategic reorganization in 2022 that equalized the stakes of his five children in his holding company, Agache. This approach aims to secure the Arnault family's influence over LVMH for generations to come.
Global Trends in Wealth The global billionaire landscape is experiencing unprecedented growth, with a record 2,781 billionaires worldwide. Their combined wealth has surged to $14.2 trillion, marking a $2 trillion increase from the previous year. Notably, there are now 14 individuals in the exclusive $100 Billion Club, up from just one four years ago. This select group holds a total wealth of $2 trillion, highlighting the concentrated nature of global wealth.
The United States leads the world in billionaire count, boasting 813 individuals with a total wealth of $5.7 trillion. China follows closely behind, with 473 billionaires worth $1.7 trillion. India has also seen a significant rise in billionaire numbers, reaching a record 200 individuals with a combined wealth of $954 billion.
Mukesh Ambani Emerges as Asia's Wealthiest Individual in 2024 Forbes' latest update reveals Mukesh Ambani, Chairman of Reliance Industries, as Asia's wealthiest individual, with a staggering net worth of $116 billion. This significant increase from $83 billion has placed Ambani as the sole Asian member of the exclusive $100 billion club.
Rise in Indian Billionaires The Forbes report also showcases a substantial rise in the number of Indian billionaires, with 200 individuals making the list, up from 169 in the previous year. The combined wealth of these Indian billionaires has surged to $954 billion, reflecting a remarkable 41 percent increase from the previous year's total of $675 billion.
Other Wealthy Individuals in India Following Ambani, Gautam Adani secures the second spot as India's wealthiest individual, boasting a net worth of $84 billion. His wealth witnessed a remarkable increase of $36.8 billion, propelling him to the 17th spot on the global billionaire list. Savitri Jindal, India's wealthiest woman, also maintains her prominent position, ascending to become India's fourth-richest individual, with a net worth of $33.5 billion.
New Additions and Omissions The latest Forbes list welcomes 25 new Indian billionaires, including Naresh Trihan, Ramesh Kanhikanan, and Renuka Jagtiani. However, notable exclusions from the list this time include Biju Ravindran and Rohika Mistry.
India's Top 10 Richest Individuals
Mukesh Ambani - $116 billion
Gautam Adani - $84 billion
Shiva Nadar - $36.9 billion
Savitri Jindal - $33.5 billion
Dilip Shanghvi - $26.7 billion
Cyrus Poonawalla - $21.3 billion
Kushal Pal Singh - $20.9 billion
Kumar Birla - $19.7 billion
Radhakishan Damani - $17.6 billion
Lakshmi Mittal - $16.4 billion
Bernard Arnault's continued dominance as the world's wealthiest individual underscores his strategic acumen and the enduring success of LVMH. As he navigates the complexities of succession planning, his vision and leadership continue to shape the luxury goods industry and secure the Arnault family's legacy in the global business landscape.
Forbes Richest List 2024: Bernard Arnault retains title as World's richest person with $233 bn fortune; Report records 2781 billionaires worldwide. FILE PHOTO: Bernard Arnault, chairman and CEO of global luxury goods company LVMH
LVMH
LVMH Moët Hennessy Louis Vuitton (French: [mɔɛt‿ɛnɛsi lwi vɥitɔ̃]), commonly known as LVMH, is a French multinational holding and conglomerate specializing in luxury goods, headquartered in Paris.
Bernard Arnault (75) has been named the world's richest man of 2024 with an estimated fortune of $226.2 billion, according to Forbes' 38th annual billionaires list, released Tuesday.
According to the tortured poets accountants department at Forbes, Swift's Eras tour made more than $1 billion in revenue. That means that touring on its own was enough to get her to this milestone. Still, all those different vinyl versions likely helped boost her numbers.
China has 814 billionaires, the most in the world, according to the Hurun Global Rich List 2024. Despite holding on to the top spot, China lost 155 billionaires year-over-year, while the U.S. gained 109.
Francoise Bettencourt Meyers, the heiress to the L'Oréal cosmetics empire, holds the title of the richest woman in the world. Born in 1948, she is the granddaughter of Eugène Schueller, the founder of L'Oréal.
Synopsis. Bernard Arnault maintains his position as the world's richest person in 2024, with a fortune of $233 billion, driven by LVMH's exceptional performance.
Austin Russell who is Florida's youngest self-made billionaire, is the founder of Luminar Technologies. If you have not heard of that company, their technology specializes in machine perception technologies which are mostly used to build autonomous cars.
Accumulating wealth requires that you start saving early so you can take full advantage of the power of compounding interest. Smart savers limit their spending so that they can put more money to work for them. They also maximize their retirement fund contributions every year.
The 75-year-old French businessman is the chairman and CEO of LVMH Moët Hennessy — Louis Vuitton, known as LVMH. Arnault owns a 48% stake in LVMH, according to Bloomberg.
According to Forbes, there are more billionaires than ever before (141 more than last year and 26 more than the 2021 record), with their collective worth reaching $14.2 trillion. Swift's inclusion comes after Forbes declared the singer a billionaire in October 2023 and reported her net worth at $1.1 billion.
Yes.The pop superstar, who reached billionaire status in October, landed on Forbes' World's Billionaires list, the business magazine shared Tuesday. Among other celeb billionaires who made the cut — including Rihanna, Kim Kardashian, Oprah Winfrey and "Star Wars" creator George Lucas — Swift was ranked at No.
New York City once again is home to the most billionaires in the world: It's the primary residence of an estimated 110 billionaires who are worth a collective $694 billion. The Big Apple has long dominated the ranks, coming in at No. 1 for all but one of the past 11 years. (Beijing briefly took the top spot in 2021.)
The city is home to over 68 thousand millionaires, over 200 centimillionaires (with a net worth over $100 million) and 15 billionaires. Year after year, a growing number of high-net-worth individuals (HNWIs) and ultra-high-net-worth individuals (UHNWIs) are choosing to relocate and settle in Dubai.
2025. Gautam Adani & family would be a year behind Musk, with Adani reaching trillionaire status in 2025 at age 62 following his current rate of growth. Adani is the chairman of the commodity trading business Adani Group, founded in 1988.
The 2024 list has a record-breaking 2,781 billionaires – which is more than ever before, Forbes said. The United States has more billionaires than any other country, now boasting a record 813 on the list. Overall, the world's billionaires are richer than ever, too.
Our forecast is that, by 2024, global wealth per adult should pass the $100,000 threshold and that the number of millionaires will exceed 87 million individuals over the next five years,” Hechler-Fayd'herbe said in a statement.
Introduction: My name is Jeremiah Abshire, I am a outstanding, kind, clever, hilarious, curious, hilarious, outstanding person who loves writing and wants to share my knowledge and understanding with you.
We notice you're using an ad blocker
Without advertising income, we can't keep making this site awesome for you.
