Elon Musk is worth nearly $500 billion after doubling his money this year. Meet the world’s 10 biggest wealth gainers.
Tesla CEO Elon Musk (right) and Meta CEO Mark Zuckerberg lead the list of biggest wealth gainers this year.
Ten people have grown their personal fortunes by a combined $790 billion this year — a figure larger than the market value of Walmart ($767 billion).
The biggest wealth gainers of 2024 include Tesla CEO Elon Musk, Meta CEO Mark Zuckerberg, Amazon chairman Jeff Bezos, Oracle chairman Larry Ellison, and Nvidia CEO Jensen Huang, according to the Bloomberg Billionaires Index.
The buzz around artificial intelligence, a solid outlook for the US economy, and market expectations about Donald Trump’s second term in office have boosted their companies’ stock prices, benefiting them as major shareholders.
Here are the 10 greatest wealth builders this year as of the market close on Tuesday, December 17.
1. Elon Musk
Elon Musk is the CEO of Tesla and SpaceX.
Year-to-date wealth gain: $257 billion
Net worth: $486 billion
Source of wealth gain: Tesla and SpaceX stock
Elon Musk is the CEO of automaker Tesla and spacecraft manufacturer SpaceX. He’s also the owner of X, the social network previously known as Twitter, along with Neuralink, xAI, and The Boring Company.
Musk’s $257 billion wealth gain this year exceeds the total net worth of Jeff Bezos, the second-richest person on the planet. The serial entrepreneur could soon become the first individual to amass a $500 billion fortune.
2. Mark Zuckerberg
Mark Zuckerberg.
Year-to-date wealth gain: $90.9 billion
Net worth: $219 billion
Source of wealth gain: Meta stock
Mark Zuckerberg is the cofounder and CEO of Meta, the parent company of Facebook, Instagram, WhatsApp, and Threads.
Meta stock has soared 75% this year as investors wager Zuckerberg’s big bets on AI and the metaverse will pay off in the years ahead. Zuckerberg has added about $90 billion to his net worth as a result, propelling him into third place on Bloomberg’s rich list.
3. Jeff Bezos
Jeff Bezos.
Year-to-date wealth gain: $72.9 billion
Net worth: $250 billion
Source of wealth gain: Amazon stock
Jeff Bezos is Amazon’s founder, executive chairman, and former CEO.
Amazon shares have leaped 52% this year as investors bet the online retailer can harness AI to supercharge its sales and leverage Amazon Web Services to become a key provider of cloud infrastructure to AI companies.
4. Larry Ellison
Larry Ellison, the billionaire founder of Oracle.
Year-to-date wealth gain: $70.4 billion
Net worth: $193 billion
Source of wealth gain: Oracle and Tesla stock
Larry Ellison is the cofounder, executive chairman, and chief technology officer of Oracle, one of the largest enterprise software companies.
Oracle stock has jumped 61% this year as the company has emerged as a key provider of cloud data centers for AI businesses, fueling a $70 billion increase in Ellison’s net worth.
Ellison purchased more than 1.5% of Tesla prior to joining its board in December 2018, making him the electric-vehicle maker’s second-largest individual shareholder after Musk. He’s believed to have retained his stake, now worth upward of $20 billion, since resigning as a director in 2022.
5. Jensen Huang
Year-to-date wealth gain: $70 billion
Net worth: $114 billion
Source of wealth gain: Nvidia stock
Jensen Huang is the founder and CEO of Nvidia, the graphics chip maker that has emerged as a critical seller of “picks and shovels” to the AI gold rush.
Nvidia’s stock has surged 163% this year, making it one of the world’s most valuable companies with a $3.2 trillion market value and lifting Huang’s net worth by $70 billion.
6. Michael Dell
Year-to-date wealth gain: $48.9 billion
Net worth: $127 billion
Source of wealth gain: Dell Technologies stock
Michael Dell is the founder and CEO of Dell Technologies, the maker of PCs, printers, and other computing equipment.
Dell shares have soared 55% this year as the company has shifted its focus toward AI-powered devices and servers.
7. Larry Page
Larry Page.
Year-to-date wealth gain: $47.4 billion
Net worth: $174 billion
Source of wealth gain: Alphabet stock
Larry Page cofounded Google in 1998 and was the company’s CEO until 2001 and again between 2011 and 2015 after Google was restructured as a subsidiary of Alphabet.
Alphabet shares have surged 40% this year as investors wager the search-and-advertising titan can dominate AI. The stock jump has fueled a $47 billion rise in Page’s net worth.
8. Jim Walton
Jim Walton, Alice Walton, and Rob Walton cheer at the annual shareholders meeting for Walmart in Fayetteville, Arkansas.
Year-to-date wealth gain: $45.1 billion
Net worth: $118 billion
Source of wealth gain: Walmart stock
Jim Walton is the youngest son of Walmart founder Sam Walton and, like his siblings, one of the retailer’s largest shareholders with an 11%-plus stake.
Walmart stock has climbed 82% this year, fueled by resilient consumer spending in the face of historic inflation and soaring interest rates in recent years. The surge led to Walton amassing a $100 billion fortune for the first time in September.
9. Alice Walton
Alice Walton is one of the heirs to the Walmart fortune.
Year-to-date wealth gain: $44.4 billion
Net worth: $114 billion
Source of wealth gain: Walmart stock
Alice Walton is the only daughter of Walmart founder Sam Walton.
She overtook L’Oréal heiress Françoise Bettencourt Meyers in August to become the world’s richest woman.
10. Rob Walton
Year-to-date wealth gain: $43.8 billion
Net worth: $115 billion
Source of wealth gain: Walmart stock
Rob Walton is the eldest son of Sam Walton and an heir to the Walmart fortune.
He and his siblings owe a big chunk of their wealth to their father, who handed them each a 20% stake in the family business over 70 years ago instead of having them inherit his fortune upon his death, in turn avoiding paying billions of dollars in estate taxes.
