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Elon Musk is on another level this year. The CEO of Tesla and SpaceX added $119 billion to his wealth in 2024. This pushed his net worth to $348 billion. That is not just a number. That’s more than the total cost of professional photos Michael Dell. Let it sink in.
Musk isn’t alone in the investment, however. The world’s 10 richest people have seen their wealth grow by $585 billion this year, according to the Bloomberg Billionaires Index. As a matter of fact, it is more than the market value of giants like Exxon Mobil or Oracle. Big names like Larry Ellison, Jensen Huang and Mark Zuckerberg are also on the list.
Here’s how it works:
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Great Players
Musk leads the pack, of course. Its financial growth is due to the success of Tesla and SpaceX. But Oracle’s Larry Ellison is not far behind. He added $83.2 billion to his wealth this year. Ellison’s smart bets on Tesla and Oracle’s cloud business position him as a major player in AI and have become a gold mine. His fortune now reaches $206 billion.
Nvidia’s Jensen Huang is often referred to the king of AI chips. He’s had a great year, too. Nvidia stock rose 187%. This added about $80 billion to his wealth. Huang is riding the AI boom as a competitor with an estimated $124 billion in revenue.
Then there is Zuckerberg. The meta is growing thanks to big bets on AI and metaverse, which has added $70 billion to its wallet, bringing its total revenue to $198 billion.
See also: Inspired by Uber and Airbnb – Deloitte’s fastest growing company turns 7 billion mobile phones into revenue generating products – with $1,000 you can invest $0.26/share!
Who’s Working?
Jeff Bezos may not be in the headlines much, but he quietly added $41.7 billion, led by Amazon. AI-based experiments. Walmart heirs Jim, Alice and Rob Walton joined the party, each earning nearly $40 billion thanks to a 72% increase in retailer prices this year.
What Drives This?
AI and Trump’s re-election buzz are the winners here. From Tesla and Nvidia riding the AI wave to Meta and Oracle embracing new technologies, it’s been a year where smart moves pay off big.
The Strange Vessel
While Musk reigns supreme, players like Jensen Huang and the Walton brothers are making waves, too. If there’s one thing this year has shown, the economic race isn’t just about those at the top — it’s about those making the smart moves to get there.
