Elon Musk saw a significant increase in his fortune in November, with his net worth surpassing $300 billion for the first time in two years. The surge in Tesla shares and a higher valuation for his AI startup contributed to the 25% rise in his wealth. His close ties to Donald Trump also played a role, as Tesla’s stock surged after Trump won the U.S. presidential election on November 6. Musk, who has been the world’s richest person since May, widened the gap between him and the No. 2 richest to over $100 billion.
Larry Ellison, the cofounder of Oracle, was the second biggest gainer in November, adding $22 billion to his wealth. His fortune is now estimated to be nearly $227 billion. Jeff Bezos, the founder of Amazon, also saw a significant increase in his net worth, gaining $19 billion during the month. Amazon’s shares jumped by 11%, bringing Bezos’s fortune to $223 billion, just a few billion less than Ellison’s.
Overall, the world’s top 10 richest individuals saw their combined wealth increase by $106 billion in November, reaching an estimated $1.81 trillion. This increase was attributed to the rally in U.S. stock indices following Trump’s election victory, with the S&P 500 index up nearly 3.6% and the Nasdaq up 3.5% during the month. However, French luxury goods titan Bernard Arnault was the biggest loser in this group, with his fortune falling by $9 billion due to weaker sales in China.
Forbes has been tracking the world’s billionaires since 1987, with the latest update in April listing 2,781 billionaires. As of December 1, 2024, the top 10 richest individuals include Elon Musk, Larry Ellison, Jeff Bezos, Mark Zuckerberg, Bernard Arnault, Warren Buffett, Larry Page, Sergey Brin, Steve Ballmer, and Amancio Ortega. All of these individuals are male, with each of them being worth $120 billion or more.
Elon Musk, the richest person in the world, is worth $330.1 billion as of December 1, 2024. His various ventures, including Tesla, SpaceX, and xAI, have contributed to his wealth. Larry Ellison, the cofounder of Oracle, follows closely behind with a net worth of $226.9 billion. Jeff Bezos, the founder of Amazon, ranks third with a fortune of $223.3 billion. Other notable individuals in the top 10 richest list include Mark Zuckerberg, Bernard Arnault, Warren Buffett, Larry Page, Sergey Brin, Steve Ballmer, and Amancio Ortega.
Overall, the top 10 richest individuals in the world have seen fluctuations in their fortunes in November, with some experiencing significant gains while others faced losses. The changing dynamics of the global economy and stock markets have played a role in reshaping the list of the wealthiest individuals, with Elon Musk maintaining his position as the world’s richest person. As stock prices continue to fluctuate, the net worth of these billionaires may change on a daily basis, reflecting the volatility of the financial markets.
