The past year has made many Forbes list members even wealthier. Let's find out which of them earned the highest profits over the last 12 months and what contributed to their financial success.
1st rank: Elon Musk
American high-tech mogul Elon Musk ended 2024 with a fortune of $439 billion, increasing his wealth by a record $188 billion over the past 12 months. This incredible growth was driven by the success of Musk’s companies. This year, Tesla shares soared by 68%, SpaceX topped the list of the world’s most valuable private companies, and his startup xAI reached a market valuation of $50 billion. All of this cemented his undisputed leadership among the world’s ultra-rich people, where he confidently holds the top spot.
2nd rank: Mark Zuckerberg
Mark Zuckerberg, American entrepreneur and founder of Meta, which comprises Facebook, Instagram, and WhatsApp, completed 2024 with a fortune of almost $214 billion, growing by $92 billion over the past year. The catalyst of his success was a 67% surge in Meta’s stock, marking a stunning rally after their decline in 2022. Investors regained confidence in the company’s strategy, including its metaverse development, which bolstered Zuckerberg’s position among Forbes billionaires.
3rd rank: Larry Ellison
Larry Ellison, American entrepreneur and co-founder of IT giant Oracle, finished the year with a fortune of approximately $218 billion, adding $84 billion over the past 12 months. Ellison’s financial success this year was fueled by a 52% rise in Oracle’s stock on the back of the company’s achievements in cloud technology and artificial intelligence. The billionaire currently owns about 42% of Oracle’s shares, as well as Tesla stock and several valuable real estate properties, including the Hawaiian island of Lanai.
4th rank: Jensen Huang
Jensen Huang, American entrepreneur of Taiwanese descent and co-founder of tech company Nvidia, closed the year with a fortune of nearly $117 billion, increasing his wealth by $74 billion over the past 12 months. Huang’s financial growth was propelled by a sharp surge in Nvidia’s stock price. Since January, the company’s shares have soared by 185% due to growing demand for Nvidia’s graphics processors, which have become essential for training AI models and data processing in cloud computing. Huang currently owns about 3% of Nvidia’s shares.
5th rank: Jeff Bezos
Jeff Bezos, American entrepreneur and Amazon founder, rounds out the list of the year’s most successful tycoons. According to the latest data, his current net worth is $241 billion – $69 billion more than a year ago. Bezos’ profit growth was driven by Amazon’s stock price, which surged by 53% since January amid buoyant demand for the company’s cloud services and the active implementation of artificial intelligence technologies. This solidified Amazon’s position as a leader in e-commerce and the IT sector.