In 2024, the rich largely got richer as tech stocks flew and markets experienced a postelection bump. However, some luxury titans shed billions amid an industry downturn. Here are the biggest billionaire winners and losers of the year, according to their net worth.
Advertisement 2024 was a good year to be a billionaire. The S&P 500 gained 25% this year, while the Nasdaq grew 33%. The uberwealthy, many of whom are invested in companies on each index, benefited greatly.
Advertisement The five billionaires who gained the most wealth in 2024 saw their net worths climb a collective $542 billion, according to the Bloomberg Billionaires Index as of December 27. These billionaires all come from the tech sector, where AI fever and a postelection rally pushed many stocks to all-time highs. There were, though, those whose fortunes took a hit.
Some billionaires whose money comes from luxury retail , which struggled this year, lost double-digit billions. Advertisement Here are the billionaires who gained and lost the most this year — and just how much their fortunes changed as of December 27..
