The Billionaire Boom: 2024’s Biggest Winners
A Record-Breaking Year for the Wealthy
The past 12 months have been a wild ride for the stock market, with the S&P 500 hitting over 50 record highs. This surge has translated into massive monetary gains for investors and the individuals who control or have large stakes in some of the world’s largest companies, particularly those in the tech industry.
Sergey Brin: The Alphabet Billionaire
Sergey Brin’s wealth is largely attributed to his co-founding of Alphabet, the holding company behind Google. He owns about 6% of the company through Class B and Class C shares and has sold over $10 billion worth of shares since Google’s IPO in 2004. As of December 29, Brin’s net worth stands at approximately $161 billion, with a year-to-date increase of over $41 billion, or 34%.
Larry Page: The Other Half of Google’s Founding Duo
Like Brin, Larry Page’s wealth is largely tied to Alphabet, where he owns about 6% of the company through Class B and Class C shares. Page has also sold over $10 billion worth of shares and has investments in companies like Tesla Motors and Planetary Resources. As of publication, Page’s net worth is approximately $171 billion, with a year-to-date increase of nearly $45 billion, or more than 35%.
Michael Dell: The Tech Titan
Michael Dell’s wealth comes primarily from his ownership of Dell Technologies, which he founded in 1984. He owns about half of the company, including 29 million shares held by a trust for his wife. Dell’s value has fluctuated over the years, but its stock is still up 68% year-to-date. As of publication, Dell’s net worth is approximately $127 billion, with a year-to-date increase of $48.6 billion, or almost 62%.
The Walton Family: Walmart’s Wealthy Heirs
The Walton family, including Jim, Alice, and Rob Walton, have seen their wealth surge in 2024 thanks to their ownership of Walmart. Each is a billionaire in their own right, with a combined net worth of approximately $432.4 billion. The family’s wealth has grown by more than $40 billion apiece, according to the Bloomberg Billionaires Index.
Jeff Bezos: Amazon’s Founder and Executive Chairman
Jeff Bezos’ net worth is largely attributed to his almost 9% stake in Amazon, which he founded and once led as CEO. As of publication, Bezos’ net worth is approximately $243 billion, with a year-to-date increase of $66.1 billion, or 37%. Bezos is also the owner and sole shareholder in Blue Origin, a space exploration company.
Larry Ellison: Oracle’s Chief Technology Officer and Executive Chairman
Larry Ellison’s wealth comes primarily from his ownership of Oracle, which he founded in 1977. He owns more than 42% of the software maker, according to company filings. As of publication, Ellison’s net worth is approximately $190 billion, with a year-to-date increase of $67.3 billion, or almost 55%.
Jensen Huang: Nvidia’s Founder and CEO
Jensen Huang’s net worth has skyrocketed alongside AI hype due to demand for Nvidia’s chips, which power some of the world’s leading AI models. As of publication, Huang’s net worth is approximately $120 billion, with a year-to-date increase of more than $75 billion, or 171.1%.
Mark Zuckerberg: Meta’s CEO and Founder
Mark Zuckerberg’s fortune comes primarily from his stake in Meta, which he founded about two decades ago as TheFaceBook. As of September, he owns about 13% of the social media firm. Meta shares are up by more than 73% year-to-date as of writing. As of publication, Zuckerberg’s net worth is approximately $212 billion, with a year-to-date increase of $84.2 billion, or almost 66%.
Elon Musk: The Wealthiest Man Alive
Elon Musk’s net worth has solidified his position as the wealthiest man alive. The value of his aerospace company, SpaceX, grew to $350 billion this month, while his artificial intelligence start-up xAI has raised $6 billion at a $50 billion valuation less than two years after he founded it. As of December 29, Musk’s net worth is approximately $452 billion, with a year-to-date increase of $223 billion, or 97%.
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