This past year has been a fruitful one for the ultra-rich. Two-thirds of Forbes’ annual World’s Billionaires list have gotten richer over the past 12 months, the publication reported. And among the 10 billionaires who gained the most wealth in 2024, eight work in technology — many of whom benefited from the AI boom.
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Here’s a look at the 10 billionaires whose net worths soared the most in 2024.
1. Mark Zuckerberg
Net worth: $177 billion
Gain since March 2023: +$112.6 billion
Source of wealth: Facebook
Zuckerberg’s net worth skyrocketed thanks to major layoffs at Meta, which assuaged investor fears, plus a larger commitment to projects related to AI and the metaverse.
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2. Jeff Bezos
Net worth: $194 billion
Gain since March 2023: +$80 billion
Source of wealth: Amazon
Amazon shares account for about 85% of Bezos’ wealth. The company’s founder and executive chair saw his fortunes rise amid job cuts and growth in Amazon’s e-commerce and cloud computing divisions.
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3. Jensen Huang
Net worth: $77 billion
Gain since March 2023: +$55.9 billion
Source of wealth: Semiconductors
The AI boom has led to a financial windfall for the Nvidia co-founder. Shares of the chip manufacturer have more than doubled over the past year, bringing the company’s market cap past the $2 trillion mark – and making Huang one of the 20 richest people in the world for the first time.
4. Michael Dell
Net worth: $91 billion
Gain since March 2023: +$40.9 billion
Source of wealth: Dell Technologies
The AI boom has also proved lucrative for Dell, the founder and CEO of Dell Technologies. Shares of the hardware firm increased by over 200% over the past year, driven by increasing demand for the company’s AI servers. Dell also boosted his net worth by selling his company’s cloud computing division to Broadcom for $69 billion last year.
5. Steve Ballmer
Net worth: $121 billion
Gain since March 2023: +$40.3 billion
Source of wealth: Microsoft
The former Microsoft CEO saw his net worth climb as the company’s shares rose 63% over the past year, driven by Microsoft’s $10 billion investment in OpenAI. Ballmer also benefited from his ownership of the Los Angeles Clippers – the NBA team’s value grew by nearly 20% over the past year.
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6. Prajogo Pangestu
Net worth: $43.4 billion
Gain since March 2023: +$38.1 billion
Source of wealth: Petrochemicals, energy
The Indonesian billionaire took two firms public on the Indonesia Stock Exchange last year: coal miner Petrindo Jaya Kreasi and geothermal energy producer Barito Renewables Energy. Shares of Petrindo Jaya Kreasi have increased nearly 15x since going public, while shares of Barito Renewables Energy have increased nearly 5x.
Photo disclaimer: Photo is for representational purposes only.
7. Gautam Adani
Net worth: $84 billion
Gain since March 2023: +$36.8 billion
Source of wealth: Infrastructure, commodities
Adani’s net worth plummeted in early 2023 after U.S. short-seller Hindenburg Research accused the Adani Group of financial fraud and stock manipulation. His fortune recovered – for the most part – after India’s Supreme Court decided in the Adani Group’s favor. Although Adani is still not back to his net worth peak of $90 billion, he’s getting closer.
8. Larry Page
Net worth: $114 billion
Gain since March 2023: +$34.8 billion
Source of wealth: Google
Alphabet shares rose 50% over the past year, leading to major net worth gains for Page, who is the co-founder and former CEO of Google.
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9. Sergey Brin
Net worth: $110 billion
Gain since March 2023: +$34 billion
Source of wealth: Google
As Google’s second-largest individual shareholder, co-founder Brin also saw his net worth soar over the past year.
10. Larry Ellison
Net worth: $141 billion
Gain since March 2023: +$34 billion
Source of wealth: Oracle
The AI boom has also helped pad Ellison’s pockets. The Oracle co-founder saw his net worth skyrocket as demand for his company’s cloud computing services expanded along with the generative AI craze. Oracle shares are up 34% since last year.
Net worth data is sourced from Forbes and is accurate as of April 2, 2024.
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This article originally appeared on GOBankingRates.com: 10 Billionaires Whose Net Worths Soared in 2024
