Top 10 billionaires in October 2024: Mark Zuckerberg emerges as the world’s second richest

In 20 years, Meta has grown to be the world’s most widely used social media platform, with over 3 billion monthly active users, and ranks as the world’s seventh-largest corporation, having a market capitalisation of $1.255 trillion.

It also owns and operates several prominent social media applications, including Instagram and WhatsApp, both of which it acquired and expanded under his leadership.

                         Top 10 billionaires as of October 2024 Zuckerberg surpasses Bezos as the world’s second richest.

Notably, Meta’s stock surged in early 2023, making Zuckerberg reclaim his position among the world’s top 10 richest individuals for the first time since January 2022.

FT reports that Meta’s shares have surged by 23% following the company’s stronger-than-expected sales results for the second quarter of 2024, and significant advancements in its large language models that enhance AI chatbots have propelled Zuckerberg to become the second-richest billionaire globally, as of October 2024.

It’s also noteworthy to mention that Zuckerberg is estimated to reach trillionaire status by 2030, given he retains his recent annual growth rate of 35.8%, as per the report by Informa Connect.

Bloomberg Billionaire Index: Top 10 billionaires as of October 2024

Please note: The net worth figures are current as of October 4, 2024. The Bloomberg Billionaires Index provides a daily ranking that is updated at the close of each trading day in New York.

The world’s top 3 billionaires: Know more about the leading contenders to be in the top spot

The race for the top spot among the world’s billionaires remains dynamic, with Musk currently leading due to his diverse investments and innovative business strategies.

Bezos and Arnault continue to be formidable competitors, reflecting the ongoing volatility in global markets and individual business performances.

1. Elon Musk:

                                                   Elon Musk 

Elon Musk, a prominent figure known for his roles as the CEO of Tesla, SpaceX, and X (formerly Twitter), currently holds the position as the richest person in the world with a present net worth of 256 billion dollars.

Musk’s leadership during Tesla’s initial public offering (IPO) in 2010 significantly boosted the company’s market capitalisation, surpassing Bernard Arnault of LVMH and claiming the title of the world’s richest person.

In addition, his strategic acquisition of Twitter, now rebranded as X, has further diversified his influential ventures and is on track to become the world’s first trillionaire by 2027.

2. Jeff Bezos:

                                                  Jeff Bezos 

Jeff Bezos, founder and chairman of Amazon, began his career in 1994 and served as CEO until July 2021. Bezos held the title of the world’s richest person on Forbes from 2018 to 2021 but slipped to the second spot in 2022.

3. Bernard Arnault

             Bernard Arnault

Bernard Arnault, CEO and chairman of LVMH reclaimed the top spot as the richest person in the first half of 2023 and 2024, surpassing Elon Musk; however, he slipped to fourth place in late 2024.

Under Arnault’s leadership, LVMH grew into a global powerhouse with over 70 luxury brands, including Louis Vuitton, Christian Dior, Moet & Chandon, Sephora, and Tiffany & Co.