Musk’s $119 Billion Wealth Increase Outpaces Dell and Zuckerberg, But Guess Who’s Catching Up

Elon Musk is on another level this year. The Tesla and SpaceX CEO added $119 billion to his fortune in 2024. This pushed his net worth to $348 billion. That’s not just a number. It’s more than the entire net worth of tech icon Michael Dell. Let that sink in.

Musk isn’t alone in raking it in, though. The 10 biggest wealth gainers globally have seen their fortunes grow by a combined $585 billion this year, according to the Bloomberg Billionaires Index. For context, that’s more than the market value of giants like Exxon Mobil or Oracle. Big names like Larry Ellison, Jensen Huang and Mark Zuckerberg are also on the list.

Here’s how it breaks down:

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The Big Players

Musk leads the pack, of course. His massive wealth boost comes from Tesla’s and SpaceX’s success. But Oracle’s Larry Ellison is not far behind. He added $83.2 billion to his fortune this year. Ellison’s smart bet on Tesla and Oracle’s cloud business positions him as a key player in AI and has been a gold mine. His net worth now stands at $206 billion.

Nvidia’s Jensen Huang is often referred to as the king of AI chips. He’s had a stellar year, too. Nvidia’s stock surged 187%. This added nearly $80 billion to his wealth. Huang rides the AI boom like a champ with a net worth of $124 billion.

Then there’s Zuckerberg. Meta is surging thanks to big bets on AI and the metaverse, which has added $70 billion to his wallet, bringing his total to a staggering $198 billion.

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Who’s Catching Up?

Jeff Bezos may not be in the headlines as much, but he’s quietly added $41.7 billion this year, driven by Amazon’s AI-focused initiatives. Walmart heirs Jim, Alice and Rob Walton joined the party, each gaining about $40 billion thanks to the retailer’s stock climbing 72% this year.

What’s Driving This?

AI and Trump’s reelection buzz are the clear winners here. From Tesla and Nvidia riding the AI wave to Meta and Oracle leveraging new technologies, it’s been a year where innovation and strategic moves paid off big time.

The Surprising Takeaway

While Musk dominates, players like Jensen Huang and the Walton siblings are making waves, too. If there’s one thing this year has shown, the wealth race isn’t just about who’s at the top – it’s about who’s making smart moves to get there.