The richest 500 people’s fortunes exceeded $10 trillion this year

Tech billionaires dominated the scene this year with a combined gain of $903 billion.

US President Donald Trump’s election victory helped push the fortune of Elon Musk, CEO of American electric car manufacturer Tesla, to more than $400 billion.

The world’s 500 richest people became even richer in 2024, with Elon Musk, Mark Zuckerberg and Jensen Hwang leading the group of billionaires to a new level, with a combined net worth of $10 trillion.

The continued rise in US technology stocks played a major role in boosting the wealth of the trio, in addition to the fortunes of Larry Ellison, Jeff Bezos, Michael Dell and Google founders Larry Page and Sergey Brin.

The eight tech companies alone have gained more than $600 billion this year, or 43% of the $1.5 trillion increase among the 500 richest people tracked by the Bloomberg Billionaires Index.