Richest Man in the World By August 2024, Name List [Current Affairs]

The Real-Time Billionaire List, an annual compilation by Forbes Magazine, is a renowned roster detailing the wealthiest individuals worldwide, gauged by their estimated net worth. Released each March, this list offers a comprehensive snapshot of the richest man in the world. The first edition of this ranking was introduced in 1987, becoming a widely anticipated and influential annual report on the financial standing of the world’s wealthiest individuals.

World Richest Man 2024

A person’s net worth is determined by assessing the value of their reported assets while considering outstanding debts and relevant factors. The rankings indicate the net worth of individuals in terms of US dollars. It is crucial to note that these lists intentionally omit royalties and political leaders whose wealth is primarily linked to their official roles.

Top 10 Richest Person In the World by August 2024

As of August 2024, Elon Musk, with a remarkable net worth of $247.2 billion, holds the title of the richest man in the world, followed by Jeff Bezos, Mark Zuckerberg and Bernard Arnault & Family.

Here is the list of Top 10 Richest Man in the World as of August 2024:

Top-10 Richest Man in the World as of August 2024
Rank	Name	Net Worth	Source of Wealth	Country
1.	Elon Musk	$147.2 billion	Tesla, SpaceX	United States
2.	Jeff Bezos	$195.6 billion	Amazon	United States
3.	Bernard Arnault & Family	$194.3 billion	LVMH	France
4.	Mark Zuckerberg	$182.8 billion	Facebook	United States
5.	Larry Ellison	$172.7 billion	Oracle	United States
6.	Warren Buffet	$142.7 billion	Berkshire Hathaway	United States
7.	Larry Page	$137.9 billion	Google	United States
8.	Bill Gates	$133.3 billion	Microsoft	United States
9.	Sergey Brin	$132 billion	Google	United States
10.	Amancio Ortego	$123.2 billion	Zara	Spain

Top-10 Richest Man in the World in Brief

Here is the brief description of top-10 richest man of the world along with their net worth, source of income and some key details:

1. Richest Man in the World – Elon Musk

The world’s richest person, Elon Musk, aged 53 and based in the United States, serves as Tesla’s co-founder and CEO, boasting a net worth of $147.2 billion. His 13% Tesla ownership stake is valued at $98.1 billion, complemented by a 79% ownership stake in X, worth $9.32 billion. Musk’s other private assets include SpaceX ($53.2 billion) and the Boring Company ($3.33 billion)

Elon Musk is the second richest person in the world. He co-founded companies like SpaceX (rocket producer), Tesla (electric car maker) and Boring Company (tunnelling startup). A significant portion of his wealth is tied to the success of Tesla. Musk purchased Twitter in October 2022 for $44 billion.

2. Second Richest Person in the World – Jeff Bezos

The second richest person in the world – Jeff Bezos, aged 60, resides in the United States and holds the position of Founder and Executive Chair at Amazon (AMZN). His substantial net worth of $171 billion largely stems from a 10% ownership stake in Amazon, valued at $145 billion. Bezos diversifies his portfolio with private assets like Blue Origin ($11.2 billion), The Washington Post ($250 million), Koru ($500 million) and holds $14 billion in cash.

In July 2021, Jeff Bezos decided to give up his role as CEO of the ecommerce powerhouse Amazon while still maintaining his position as chairman.

Bezos owned an aerospace company named The Washington Post and Blue Origin, designing rockets and fled to space in July 2021.

3. Third World’s Richest Person – Bernard Arnault

 

Wealth: $194.3 billion
Country: France
Business: LVMH

Bernard Arnault, Chairman and CEO of LVMH, ranks third among the world’s top billionaires. LVMH, a conglomerate of over 70 luxury brands including Louis Vuitton and Christian Dior, acquired Tiffany & Co. for USD 15.8 billion in 2021. Arnault’s children also play vital roles in LVMH’s operations; his daughter Delphine oversees Dior, while his son Frédéric leads the conglomerate’s watch division since January 2024.

4. Fourth Richest Person in the World – Mark Zuckerberg

As of 2024, Mark Zuckerberg, aged 40 and based in the United States, claims the title of the fifth richest person in the world who holds the dual roles of CEO and Chair at Meta Platforms (META), amassing a significant net worth of $115 billion. His ownership stake in Meta Platforms stands at 13%, valued at $111 billion, reflecting his influential position in the tech industry. Additionally, Zuckerberg manages a portfolio that includes $4.03 billion in cash, showcasing his strategic approach to wealth management.

Mark Zuckerberg is an American billionaire business magnate, computer programmer, internet entrepreneur and philanthropist. He co-founded the social media website Facebook and its parent company Meta Platforms of which he is the executive chairman, CEO and controlling shareholder.

5. World’s Fifth Wealthiest Person –  Larry Ellison

Larry Ellison, the fifth richest person in the world, aged 80 and resides in the United States. He serves as the co-founder, Chair and CTO of Oracle (ORCL), boasting a substantial net worth of $129 billion. His Oracle ownership stake exceeds 42%, valued at $96.1 billion. Additionally, his diversified assets include $10.7 billion in Tesla equity, a noteworthy public asset and a considerable cash reserve of $21.8 billion.

Larry Ellison holds 5th position in the real-time billionaire’s list. He owns 35% of software giant Oracle and is its chief technology officer, chairman and co-founder. He left the CEO position at Oracle in 2014. He shifted permanently to Hawaiian Island Lanai and bought it for $300 million. He purchased 3 million Tesla shares and joined its board in December 2018.

6. Sixth Richest Man of the World – Warren Buffet

Warren Buffet, residing in the United States, aged 94, serves as the CEO of Berkshire Hathaway (BRK.A) with a considerable net worth of $119 billion. His ownership stake in Berkshire Hathaway stands at 15%, valued at $118 billion. Complementing this, he holds $1.28 billion in cash, reflecting a strategic approach to wealth management and investment.

Warren Buffet, widely recognised as the “Oracle of Omaha”, is one of history’s most accomplished investors. He is the head of Berkshire Hathaway, an investment conglomerate with a diverse portfolio encompassing numerous companies, such as insurance provider Geico, battery manufacturer Duracell and restaurant chain Dairy Queen.

7. World Seventh Wealthiest Person – Larry Page

Larry Page, aged 51 and residing in the United States, stands as the co-founder and board member of Alphabet (GOOG), boasting a substantial net worth of $119 billion. With a 6% ownership stake in Alphabet, valued at $102.7 billion, Page strategically manages his wealth. Notably, he holds additional assets, including $16.3 billion in cash, indicating a diversified and financially astute approach to his portfolio.

Lawrence Edward Page is an American billionaire business magnate. He is the co-founder of Google with Sergen Brin. He is the co-creator and namesake of PageRank, a search ranking algorithm for Google. He received the Macroni Prize 2004 with co-writer Brin.

8. Eighth Wealthiest Person in the World – Bill Gates

World’s fourth wealthiest person – Bill Gates, aged 68 and residing in the United States, is renowned as the co-founder of Microsoft (MSFT), amassing a substantial net worth of $134 billion. Their Microsoft ownership stake sits at 1.4%, valued at $24.1 billion. Beyond Microsoft, their diverse portfolio includes $64.1 billion cash and investments across numerous other companies, solidifying their influential presence in the business world.

He stands on the fourth position on the real-time billionaire’s list. He gets a significant portion of wealth from Microsoft and investment in zero-carbon energy. Bill co-founded Microsoft with Paul Allen in 1975 and owns only 1% of the software company’s share as of March 2020.

Bill Gates is the largest owner of farmland in the United States and invested in various companies like Canadian National Railway and AutoNation. Bill occupied the fourth rank in the real-time billionaire’s list in 2022.

9. World Ninth Richest Man – Sergey Brin

Sergey Brin, aged 50 and residing in the United States, the co-founder and board member of Alphabet (GOOG), possesses a substantial net worth of $113 billion. His influence stems from a 6% ownership stake in Alphabet, totaling $96.5 billion. Notably, Brin strategically manages his wealth, including significant assets like $16.4 billion in cash.

Brin is a co-founder of Google with Larry Page. He was the president of Google’s parent company, Alphabet Inc., until stepping down from his role in December 2019.

10. World’s Tenth Wealthiest Man – Amancio Ortega

 

Amancio Ortega Gaona, aged 88, is a Spanish billionaire and the founder of Inditex, the fashion group known for popular brands like Zara and Bershka. Renowned as a pioneer in fast fashion, Ortega was formerly the chairman of Inditex. As of August 2024, he has a net worth of $123.2 billion, making him the tenth richest person in the world.