A 12 months in wealth: The most important billionaire winners and losers of 2024

• In 2024, the wealthy largely acquired richer as tech shares flew and markets skilled a postelection bump.

• Nevertheless, some luxurious titans shed billions amid an business downturn.

• Listed below are the most important billionaire winners and losers of the 12 months, in response to their internet price.

2024 was a very good 12 months to be a billionaire.

The S&P 500 gained 25% this 12 months, whereas the Nasdaq grew 33%. The uberwealthy, a lot of whom are invested in corporations on every index, benefited significantly.

The 5 billionaires who gained essentially the most wealth in 2024 noticed their internet worths climb a collective $542 billion, in response to the Bloomberg Billionaires Index as of December 27.

These billionaires all come from the tech sector, the place AI fever and a postelection rally pushed many shares to all-time highs.

There have been, although, these whose fortunes took successful. Some billionaires whose cash comes from luxurious retail, which struggled this 12 months, misplaced double-digit billions.

Listed below are the billionaires who gained and misplaced essentially the most this 12 months — and simply how a lot their fortunes modified as of December 27.

The most important winners of the 12 months are…

Elon Musk: $239 billion richer

Elon Musk, who’s price $468 billion, almost doubled his internet price in 2024, owing in no small half to the inventory market’s rally after Donald Trump’s election victory. Since Election Day, he is grow to be greater than $200 billion richer.

His fortune is predominantly made up of Tesla inventory and fairness in SpaceX. Although gross sales of electrical automobiles have slowed down, Tesla’s inventory worth has jumped greater than 70% this 12 months. SpaceX, in the meantime, has doubled in worth prior to now 12 months and is now price a reported $350 billion.

Musk, who gave greater than $200 million to Trump’s reelection efforts, has grow to be an advisor to the president-elect, who tapped him and Vivek Ramaswamy to guide his newly created Division of Authorities Effectivity. Traders are bullish that his relationship with the commander in chief will profit his corporations.

Mark Zuckerberg: $85 billion richer

Mark Zuckerberg is using on the success of Meta’s robust 12 months. The CEO, who’s price $213 billion, owns about 13% of the corporate’s inventory, making him its largest particular person shareholder.

Meta’s share worth is up over 70% this 12 months because of its robust advert enterprise and push additional into AI. The corporate introduced its first-ever dividend in February, and its inventory hit report highs a number of instances this 12 months.

Jensen Huang: $78 billion richer

The AI increase minted a brand new centibillionaire this 12 months in Jensen Huang, who’s price $122 billion.

The Nvidia CEO and cofounder owns about 3.5% of the corporate, whose share worth is up greater than 175% year-to-date because of its dominance within the AI chip business.

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Larry Ellison: $70 billion richer

Larry Ellison, who’s price $193 billion, is the founder and chief expertise officer of Oracle.

The database software program firm’s inventory, which makes up the biggest share of his internet price, is up greater than 60% year-to-date because of its cloud functions and infrastructure, which can be utilized to coach AI.

Ellison additionally owns greater than 1% of Tesla inventory, which is price $20 billion, in response to Bloomberg.

Jeff Bezos: $69 billion richer

Jeff Bezos, the Amazon cofounder, stays the corporate’s largest particular person shareholder, proudly owning almost 9% of the $2.4 trillion firm. His stake within the retail and tech behemoth makes up greater than 80% of his $246 billion fortune.

Amazon’s inventory, which is up greater than 45% year-to-date, surged after Trump’s election. The corporate has additionally benefited from its management in e-commerce and cloud computing.

In the meantime, some billionaires did expertise hits to their fortunes.

Bernard Arnault: $31 billion poorer

This 12 months was one of many worst years for luxurious in current reminiscence, and Bernard Arnault has an 11-figure loss to point out for it.

The CEO of LVMH, who’s price $176 billion, has a 48% stake within the firm, which owns manufacturers like Louis Vuitton and Christian Dior. Luxurious labels have struggled this 12 months, notably in China, which has skilled an actual property disaster and excessive youth unemployment.

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Françoise Bettencourt Meyers: $25 billion poorer

Francoise Bettencourt-Meyers, the inheritor to the L’Oréal fortune, is the second-richest lady on this planet with a fortune of $75 billion.

The cosmetics firm has struggled this 12 months as gross sales in China took successful. Its share worth is down greater than 26% year-to-date.

Carlos Slim: $23 billion poorer

Mexican billionaire Carlos Slim, who’s price $82 billion, noticed his fortune slip with telecommunications large América Móvil’s inventory this 12 months.

Colin Huang: $17 billion poorer

Practically all of Colin Huang’s $35 billion fortune lies in his stake in Pinduoduo, the dad or mum firm of fast-fashion retailer Temu, whose inventory has fallen greater than 30% this 12 months.

In August, Temu introduced it anticipated income to fall sooner or later as a result of rising competitors and altering shopper sentiment. The corporate took one other hit following Trump’s victory, given the uncertainty of how future tariffs might have an effect on gross sales.

Francois Pinault: $14 billion poorer

Francois Pinault’s fortune is one other casualty of the posh downturn this 12 months.

He based the posh group Kering, which incorporates manufacturers like Balenciaga, Gucci, and Saint Laurent, and nearly all of his $22 billion internet price is tied up within the firm, whose inventory is down greater than 40% year-to-date.

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