Bernard Arnault has misplaced more cash than some other billionaire this yr, whereas Elon Musk’s fortune has nearly doubled.Chesnot/Getty Photographs; Marc Piasecki/Getty Photographs
Nevertheless, some luxurious titans have misplaced billions as a result of business downturn.
Listed below are the largest billionaire winners and losers of the yr, in keeping with their web price.
2024 was a very good yr to be a billionaire.
The S&P 500 has gained 25% this yr, whereas the Nasdaq is up 33%. The very rich, lots of whom put money into corporations on each index, have benefited tremendously.
The 5 billionaires who collected probably the most wealth in 2024 noticed their web price collectively rise to $542 billion, in keeping with the Bloomberg Billionaires Index to December 27.
These billionaires all come from the know-how sector, the place AI fever and a post-election rally has pushed many shares to all-time highs.
There have been, nevertheless, these whose fortunes took a success. Some billionaires whose cash comes from luxury retailwhich struggled this yr, misplaced double-digit billions.
Listed below are the billionaires who gained and misplaced probably the most this yr – and the way a lot their fortunes have modified as of December 27.
The most important winners of the yr are…
Elon Musk: $239 billion richer
Musk, who supported Donald Trump’s marketing campaign, has change into $200 billion richer for the reason that election.Getty Photographs
Elon Muskprice $468 billion, practically doubled his web price in 2024, largely due to the inventory market rally following Donald Trump’s election victory. Since Election Day, he has grown greater than $200 billion richer.
His fortune is actually composed of Tesla shares and fairness in SpaceX. Despite the fact that electrical car gross sales have slowed, Tesla’s inventory worth has jumped greater than 70% this yr. EspaceXin the meantime, has doubled its worth over the previous yr and is now price $350 billion.
Musk, who donated greater than $200 million to Trump’s re-election efforts, turned an adviser to the president-elect, who tapped him and Vivek Ramaswamy to steer his new Division of Authorities Effectiveness. Traders are assured his relationship with the commander-in-chief will profit his companies.
Mark Zuckerberg: $85 billion richer
Zuckerberg, Meta’s largest particular person shareholder, noticed his fortunes boosted by a very good yr for the corporate.@zuck by way of Instagram
Mark Zuckerberg relies on the success of Meta’s Joyful New Yr. The $213 billion CEO owns about 13% of the corporate’s inventory, making him its largest particular person shareholder.
The meta the inventory worth is up greater than 70% this yr due to its sturdy promoting enterprise and push into AI. The corporate introduced its first-ever dividend in February, and its shares have hit file highs a number of occasions this yr.
Jensen Huang: $78 trillion wealthy
Simply shy of a billionaire, Huang has change into one of many best-known figures within the booming AI sector.I-hwa Cheng/Getty
The AI growth has given rise to a brand new billionaire this yr in Jensen Huang, who’s price $122 billion.
The Nvidia CEO and co-founder owns about 3.5% of the corporate, whose inventory worth is up greater than 175% year-to-date due to his market dominance. AI chip industry.
Larry Ellison: $70 billion richer
Larry Ellison, the billionaire founding father of Oracle.Phillip Faraone/Getty Photographs
Larry Ellison, price $193 billion, is the founder and chief know-how officer of Oracle.
The database software program firm’s shares, which account for the biggest share of its web price, are up greater than 60% yr so far due to its cloud functions and infrastructure, which can be utilized to coach the AI.
Ellison additionally owns greater than 1% of Tesla’s inventory, which is price $20 billion, in keeping with Bloomberg.
Jeff Bezos: $69 billion richer
Jeff Bezos stays Amazon’s largest shareholder and has benefited from the corporate’s rebound in 2024.Eugene Gologursky/Getty Photographs for The New York Instances
Jeff Bezosthe co-founder of Amazon, stays the corporate’s largest particular person shareholder, proudly owning practically 9% of the $2.4 trillion firm. His stake within the retail and know-how large represents greater than 80% of his $246 billion fortune.
from Amazon the inventory, up greater than 45% for the reason that begin of the yr, surged after Trump’s election. The corporate additionally benefited from its management in e-commerce and cloud computing.
In the meantime, some billionaires have skilled monetary difficulties.
Bernard Arnault: 31 billion {dollars} poorer
In figures, Arnault is the largest billionaire loser of the yr.Tefano Rellandini/Getty Photographs
This yr has been one of many worst years for luxurious in latest reminiscence, and Bernard Arnault has an 11-figure loss to point out for it.
The $176 billion CEO of LVMH has a 48% stake within the firm, which owns manufacturers like Louis Vuitton and Christian Dior. Luxurious manufacturers have struggled this yr, notably in China, which has seen an actual property disaster and excessive youth unemployment.
Françoise Bettencourt-Meyers’ web price comes from her stake in L’Oréal.Martin Bureau/AFP/Getty Photographs
Françoise Bettencourt-Meyersheiress to the L’Oréal fortune, is the second richest girl on the earth with a fortune of 75 billion {dollars}.
The cosmetics firm has struggled this yr as its gross sales in China have been affected. Its inventory worth is down greater than 26% yr so far.
Carlos Slim: $23 billion poorer
Carlos Slim has a diversified fortune, with stakes in quite a few public corporations in Latin America.AP Picture/Rebecca Blackwell
Mexican billionaire Carlos Slim, price $82 billion, has seen his fortune plummet this yr due to the actions of telecommunications large América Móvil.
Colin Huang: $17 billion poorer
Colin Huang’s fortune comes from Temu, the quick vogue retailer he based.VCG/Getty Photographs
Nearly every part That of Colin Huang His $35 billion fortune lies in his stake in Pinduoduo, the mother or father firm of quick vogue retailer Temu, whose shares have fallen greater than 30% this yr.
In August, There is introduced that it expects earnings to say no sooner or later resulting from growing competitors and altering client confidence. The corporate suffered one other blow after Trump’s victory, given uncertainty over how future prices can have an effect on gross sales.
Francois Pinault: $14 billion poorer
François Pinault based the posh group Kering, whose shares have fallen this yr.REUTERS/Charles Plateau
François Pinault’s fortune is one other sufferer of the posh sector’s slowdown this yr.
He based the posh group Kering, which incorporates manufacturers like Balenciaga, Gucciand Saint Laurent, and nearly all of his $22 billion web price is tied to the corporate, whose shares are down greater than 40% yr so far.
