The World's Billionaires

The World's Billionaires - Forbes List

The World's Billionaires is an annual ranking of people who are billionaires, i.e., they are considered to have a net worth of US$1 billion or more, by the American business magazine Forbes. The list was first published in March 1987. The total net worth of each individual on the list is estimated and is cited in United States dollars, based on their documented assets and accounting for debt and other factors. Royalty and dictators whose wealth comes from their positions are excluded from these lists. This ranking is an index of the wealthiest documented individuals, excluding any ranking of those with wealth that is not able to be completely ascertained.

Notable Rankings

In 2018, Amazon founder Jeff Bezos was ranked at the top for the first time and became the first centibillionaire included in the ranking, surpassing Microsoft founder Bill Gates, who had topped the list 18 of the previous 24 years. In 2022, after topping the list for four years, Bezos was surpassed by Elon Musk. In 2023, Musk was in turn surpassed by French businessman Bernard Arnault, after topping the list for just a year. Arnault became the first French person to top the list.

Methodology

Each year, Forbes employs a team of over 50 reporters from a variety of countries to track the activity of the world's wealthiest individuals and sometimes groups or families – who share wealth. Preliminary surveys are sent to those who may qualify for the list. According to Forbes, they received three types of responses – some people try to inflate their wealth, others cooperate but leave out details, and some refuse to answer any questions. Business deals are then scrutinized and estimates of valuable assets – land, homes, vehicles, artwork, etc. – are made.

Forbes Billionaires Growth Over the Years

The 38th annual Forbes list of the world's billionaires found a record 2,781 billionaires with a total net wealth of $14.2 trillion. This is an increase of 141 members and $2 trillion from 2023, which held the previous record for the highest net worth gain on the list, surpassing the $900 billion record set in 2022. Two-thirds of the list members are wealthier compared to the previous year, including Mark Zuckerberg, whose net worth increased by $112.6 billion.

In the 37th annual Forbes list of the world's billionaires, the list included 2,640 billionaires with a total net wealth of $12.2 trillion, down 28 members and $500 billion from 2022. Over half of the list is less wealthy compared to the previous year, including Elon Musk, who fell from No. 1 to No. 2. The list also marks for the first time a French citizen was in the top position as well as a non-American for the first time since 2013 when the Mexican Carlos Slim Helu was the world's richest person.

Recent AI Developments

The year 2024 has been marked by significant advancements in artificial intelligence (AI), influencing various sectors globally. Notably, AI has made strides in healthcare, with predictions suggesting that AI could potentially cure all diseases within the next decade. Demis Hassabis, CEO of Google DeepMind, emphasizes that AI is poised to revolutionize the world fundamentally, promising both significant advancements and challenges.

In the pharmaceutical industry, companies like Johnson & Johnson, Merck, and Eli Lilly are emphasizing AI literacy and training among their workforce to incorporate advanced technologies into drug development, regulatory compliance, and operations. These initiatives are expected to save the industry billions and shift recruitment priorities towards AI fluency alongside traditional biotech skills.

Furthermore, Google DeepMind is introducing advanced AI models to enhance the capabilities of robots in performing real-world tasks. These models significantly improve robots' generality, interactivity, and dexterity, allowing them to perform precise tasks such as folding paper or unscrewing bottle caps.