Business Desk 
Jan 02, 2025
While the year 2024 ran its course in a blink, it appears to have been overwhelmingly favourable for billionaires to multiply their wealth by infinity, letting the world’s 500 richest amass $10 trillion in net worth.
The startling figure was brought to light by Bloomberg, showing that tech billionaires like Elon Musk, Mark Zuckerberg and Jensen Huang remained in the lead.
This colossal amount of wealth indicated that the previous year, despite witnessing political turmoil and raging wars, possessed the margin of uplifting the global economy to an unbelievable extent.
According to the publication, the astounding rise in the wealth of the world's richest 500 people was primarily pushed by the continuous surge in the US technology stocks, and the fortunes of Larry Ellison, Jeff Bezos, Michael Dell and Google co-founders Larry Page and Sergey Brin.
The aforementioned tech titans alone accumulated over $600 billion this year, accounting for 43% of the $1.5tn gains distributed among the 500 richest people tracked by the Bloomberg Billionaires Index.
Among the top eight, the chart was led by Musk, who was reportedly the biggest backer of President-elect Donald Trump during the latter's reelection campaign as a presidential candidate. The total market value of Musk-owned firms like Tesla, SpaceX and xAI rose thanks to his friendly ties with the upcoming president.
Given that, his total net worth jumped to $442.1bn, up $213bn compared to the beginning of the year. This extent of Musk's gains created a $237bn gap between him and Bezos, which on December 17, 2024, was recorded to be the largest ever between the wealthiest and the runner-up on Bloomberg’s wealth index.
