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Billionaire wealth is soaring, with 25 holding $3.3 trillion. Indians Mukesh Ambani and Gautam Adani are included. Elon Musk leads with $419.10 billion.
Super Billionaire Boom: Mukesh Ambani, Jeff Bezos, Elon Musk (From Left To Right)
Super Billionaire Boom: The net worth of the wealthiest people has increased manifold times in the past few years. The rich are getting richer. The gap between the ultra-rich and the rest of the world continues to widen at an exponential pace. Forbes’ billionaire list, which tracks the real-time wealth of the world’s wealthiest individuals, indicates a massive jump in their wealth in recent years.
Super billionaires, a term used for those with wealth exceeding $50 billion, have seen their fortunes multiply manifold in the past few years. There are currently 25 super billionaires globally, their combined wealth totalling around $3.3 trillion, or the nominal GDP of France, according to a Wall Street Journal report.
Two Indians Are In Exclusive Club
Of the 28 super billionaires identified by Forbes, two are Indian: Mukesh Ambani, the chairman of Reliance Industries of India, and Gautam Adani, the chairman of Adani Group.
Ambani’s current wealth, as per Forbes, stands at $89.2 billion, whereas Adani’s wealth is at $52.4 billion.
Elon Musk Tops The Chart
Tech billionaire and head of X (formerly Twitter), Tesla, SpaceX, and several other startups, Elon Musk, is the richest person on the planet, with a net worth approaching $419.10 billion. His net worth is 21 times greater than that of the wealthiest individual in 1987 when Forbes released its first billionaire list of 140 people. That list was topped by Japan’s Yoshiaki Tsutsumi, with a net worth of $20 billion.
Reason Behind Emergence Of Super Billionaire
The emergence of super billionaires has coincided with a surge in global luxury markets, including real estate. This trend is driven by these individuals amassing vast portfolios of luxury properties worldwide. Experts observe that data indicates a widening gap between the ultra-wealthy and the merely affluent, with a select group reaching unprecedented levels of wealth.
According to Maya Imberg, head of thought leadership and analytics at Altrata, who has been studying the super-billionaire demographic, while billionaires have always held substantial wealth, the current disparities within the billionaire population are noteworthy. “While billionaires have always held a significant amount of wealth, the current disparities we are witnessing within the billionaire population are noteworthy,” Imberg notes. She finds the sheer growth in the net worth of some of these individuals to be remarkable.
