INTERNATIONAL BUSINESS TIMES uk NOTICEBOARD My account Log Out Aug 27, 3:33 AM BST Business Latest News UK News Personal Finance Tech and Science Work Life Women in Business Travel Real Estate Reviews NOTICEBOARD My account Log Out UK Edition Business Latest News UK News Personal Finance Tech and Science - Science - Cybersecurity - eSports - Artificial Intelligence Work Life - Retail - Hospitality - Healthcare - Motoring - Finance & Banking - Sports Betting Women in Business Travel Real Estate Reviews Editions Australia Edition India Edition International Edition Singapore Edition United Kingdom United States NOTICEBOARD Follow Us Editions Australia Edition India Edition International Edition Singapore Edition United Kingdom United States Business The Centibillionaires Club: 15 People Worth Over $100 Billion And Three More About To Join Their Ranks By Callum Conway-Shaw callumc191 Published 08/27/24 AT 3:33 AM BST Share on Facebook Share on Twitter Share on LinkedIn Share on Reddit Share on Flipboard Share on Pocket Elon Musk publicly challenged his fellow tech centibillionaire Mark Zuckerberg to a cage match last year Twitter / DogeDesigner @cb_doge KEY POINTS It is believed that only 15 centibillionaries are currently alive, although that number is expected to grow significantly over the next decade. Three members of the Walton family command net worths between $94 billion and $98 billion after each became at least $24 billion richer this year As the world's wealthiest individuals continue to amass fortunes that defy comprehension, a select few have entered the exclusive "Centibillionaires Club," a designation reserved for those with a net worth exceeding $100 billion. These individuals have achieved this monumental financial milestone through ownership of vast stock holdings in some of the world's most valuable companies.
As of 2024, only 15 people hold this distinction, though three more are on the cusp of joining their ranks. The Rise of the Centibillionaires According to the 2024 UBS Global Wealth Report, there are approximately 58 million US-dollar millionaires worldwide, comprising 1.5 per cent of the global adult population.
However, the number of billionaires is significantly smaller, with only 3,194 individuals worldwide holding that title . But to be worth over $100 billion is to belong to an even rarer class—the Centibillionaires. As of this year, the combined wealth of these 15 centibillionaires totals around $2.
3 trillion. This figure surpasses the market capitalisation of several large corporations, including Alphabet, the parent company of Google. Moreover, despite economic fluctuations, these individuals have collectively added $380 billion to their net worths in 2024 alone .
The Elite 15: Who Are the Centibillionaires? 1. Elon Musk Net worth : $246 billion YTD change : +$16.7 billion Source of wealth : Tesla and SpaceX stock Elon Musk, the CEO of Tesla and SpaceX, continues to dominate the Centibillionaires Club as the wealthiest individual.
His other ventures include Neuralink, The Boring Company, and X (formerly Twitter). Musk's influence on technology and space exploration remains unparalleled, making him the richest person globally . 2.
Jeff Bezos Net worth : $203 billion YTD change : +$26.3 billion Source of wealth : Amazon stock Jeff Bezos, the founder and former CEO of Amazon, continues to thrive with his e-commerce and cloud computing empire. Additionally, Bezos's interests in space exploration through Blue Origin and his ownership of The Washington Post further solidify his status among the world's wealthiest .
3. Bernard Arnault Net worth : $200 billion YTD change : -$7.64 billion Source of wealth : LVMH stock Bernard Arnault, the CEO and chairman of LVMH Moët Hennessy Louis Vuitton, is a powerhouse in the luxury goods industry.
Despite a slight decline in his wealth this year, Arnault remains a dominant figure with a vast portfolio of brands under his conglomerate, including Dior, Sephora, and Tiffany & Co. . 4.
Mark Zuckerberg Net worth : $190 billion YTD change : +$62 billion Source of wealth : Meta stock As the cofounder and CEO of Meta Platforms, Mark Zuckerberg has seen a significant boost in his wealth thanks to Meta's strong performance. The company, which owns Facebook, Instagram, WhatsApp, and Threads, continues to lead in the social media landscape, with additional ventures in virtual reality through Reality Labs . 5.
Bill Gates Net worth : $160 billion YTD change : +$18.9 billion Source of wealth : Microsoft stock Bill Gates, co-founder of Microsoft, is renowned not only for his wealth but also for his extensive philanthropic efforts through the Bill & Melinda Gates Foundation. Gates continues to shape global health, education, and technological innovation .
6. Larry Ellison Net worth : $155 billion YTD change : +$32.2 billion Source of wealth : Oracle and Tesla stock Larry Ellison, the co-founder and CTO of Oracle, has expanded his fortune significantly through investments in Tesla.
Ellison's influence extends across software and cloud computing, making him one of the wealthiest tech moguls . 7. Larry Page Net worth : $150 billion YTD change : +$23.
1 billion Source of wealth : Alphabet stock Larry Page, who co-founded Google with Sergey Brin, has played a pivotal role in shaping the internet as we know it. His continued involvement in Alphabet, Google's parent company, ensures his place among the world's elite . 8.
Steve Ballmer Net worth : $147 billion YTD change : +$16.1 billion Source of wealth : Microsoft stock Former Microsoft CEO Steve Ballmer's wealth is rooted in his substantial stake in the company. Since retiring, Ballmer has also become the owner of the NBA's Los Angeles Clippers, adding to his diversified portfolio .
9. Sergey Brin Net worth : $141 billion YTD change : +$20.8 billion Source of wealth : Alphabet stock Sergey Brin, along with Larry Page, co-founded Google.
His leadership in the early days of the search engine giant laid the foundation for its dominance in the tech industry . 10. Warren Buffett Net worth : $141 billion YTD change : +$21.
0 billion Source of wealth : Berkshire Hathaway stock Warren Buffett, often referred to as the "Oracle of Omaha," is one of the most successful investors of all time. His company, Berkshire Hathaway, owns a diverse range of businesses and significant stakes in public companies, contributing to his immense wealth . 11.
Mukesh Ambani Net worth : $113 billion YTD change : +$16.3 billion Source of wealth : Reliance Industries stock Mukesh Ambani, the chairman of Reliance Industries, has been instrumental in transforming the conglomerate into a global powerhouse. His leadership has expanded the company's reach into telecommunications, retail, and petrochemicals .
12. Jensen Huang Net worth : $113 billion YTD change : +$68.6 billion Source of wealth : Nvidia stock Jensen Huang, CEO of Nvidia, has seen his fortune soar as the company's microchips have become crucial in the development of artificial intelligence.
Nvidia's rapid growth has catapulted Huang into the Centibillionaires Club . 13. Amancio Ortega Net worth : $107 billion YTD change : +$19.
9 billion Source of wealth : Inditex stock Amancio Ortega, the founder of Inditex, is best known for creating Zara, the world-renowned fashion retailer. Ortega's influence in the fashion industry is unparalleled, and his wealth continues to grow . 14.
Michael Dell Net worth : $107 billion YTD change : +$28.2 billion Source of wealth : Dell stock Michael Dell, founder and CEO of Dell Technologies, has built one of the most successful technology companies in the world. His significant ownership stake in the company has propelled him into the ranks of the Centibillionaires .
15. Gautam Adani Net worth : $105 billion YTD change : +$21.1 billion Source of wealth : Adani Group stock Gautam Adani, founder and chairman of the Adani Group, has played a critical role in India's infrastructure development.
His conglomerate spans various sectors, including energy, logistics, and transportation . The Next In Line: The Walton Family The Waltons, heirs to the Walmart fortune, are on the brink of joining the Centibillionaires Club. Jim Walton, Rob Walton, and Alice Walton have seen their wealth surge this year due to Walmart's strong stock performance.
Their net worths currently stand at $97.6 billion, $95.3 billion, and $94.
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