$1 billion Not long ago, it seemed like an impossible amount of wealth. Before 1913, the world had no billionaires. In 1987, only two people were worth more than $10 billion, but that’s not the case anymore.
This year’s billionaire list is out. There’s a total of 2,781 people on the list, 141 more than last year. And there are a few interesting trends here.
Riches Amplified: The Elite CTI Club
The rich are richer than ever. Together, they have a collective wealth of $14.2 trillion, more than the GDP of every country except the US and China. There are billionaires, and then there are CTI billionaires, people with more than $100 billion. This list consists of LVMH owner Bernard Arnault, the richest person in the world, along with others like Tesla CEO Elon Musk, Meta CEO Mark Zuckerberg, Amazon owner Jeff Bezos, and Reliance chairman Mukesh Ambani. There are 14 people with 12-figure fortunes, making up the elite club of billionaires.
Global Distribution: Tracking Wealth Across Nations
The countries with the most number of billionaires. The US tops the list with around 813 billionaires, followed by China with 646. It’s a dip from last year. In third place is India, with a record 200 billionaires, 25 of them newcomers. The surge is attributed to the bullish trend of the Indian stock market.
Self-Made Billionaire: The Age and Gender Dynamics
Self-made billionaires. There are plenty of them on this list, but none are under the age of 30. The average age of a billionaire is 66. The oldest billionaire is 102 years old. So, young billionaires are an anomaly. But there are a few of them. All billionaires under the age of 30 have inherited their wealth. It’s the first since 2009, but it’s not the only first on the list. Women billionaires are on the rise too.
A Billion-Dollar Melody: Taylor Swift Makes History
This list, like I said, has a total of 2,781 people. 369 of them are women, comprising 13.3% of the total list. Plus, this group has a rare subset: self-made women billionaires, making up only 3.6% of the list this year. Their numbers reached a record high, with new additions to the list, including Taylor Swift, the American pop star, with a net worth of $1.1 billion. Ask anyone, and they will tell you that 2023 was her year. She achieved the status of a mega-star, dominated headlines, went on her super-hit era tour, made the NFL relevant again, and lifted economies all while jetting around the globe. She became a billionaire in October of last year. This year, she’s on the Forbes list, a unique achievement. Taylor Swift has accomplished something that no other musician has. Her earnings are primarily from her music and performances, not from investments or other businesses. This is money that she earned just from her music, which says a lot about her business skills. This year will be more of the same. Taylor Swift has completed the Asia leg of her era’s tour; she will then head to Europe and finally to America.
And she’s not the only new addition to this list. Another prominent addition is Sam Altman, the CEO of OpenAI and the founder of ChatGPT. But unlike Taylor Swift, it’s not been the best year for him. He was ousted from his own company. There was boardroom drama and corporate rivalry. But in the end, things worked out for Sam Altman; he was reinstated, and now he’s entered the list with a net worth of $1 billion. I guess all is well with that ending.
It’s been an amazing year for the world’s rich. Two wars, multiple conflicts, a volatile financial landscape, rising inflation, and a cost of living crisis. None of it mattered for them, because at the end of the day, the rich only got richer.
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