Taylor Swift Joins Elon Musk in Global Billionaire Rankings

Taylor Swift Joins Elon Musk on Global Billionaire Rankings

Taylor Swift, who has reached her billionaire “era,” has joined Elon Musk on the list of the world’s richest people.

Musk has reclaimed the title of the world’s richest person in an annual billionaire list, aided by a surge in Tesla shares and an increase in SpaceX’s value.

Musk’s fortune of US$231 billion put him ahead of Amazon executive chairman Jeff Bezos (US$185 billion) and LVMH CEO Bernard Arnault (US$175 billion), who came in second and third place, as well, in the 13th Hurun Global Rich Report, an annual survey organized by China-based media and research firm Hurun. This year was Musk’s third time at the top of the roster in four years.

Swift debuted on the list, with her worth estimated at $1.2 million, fueled by her Eras Tour and royalties from re-recording her records.

According to the survey, Mark Zuckerberg (US$158 billion), CEO of Meta Platforms Inc., was fourth on the list but added the most wealth, as Meta shares more than doubled.

Ryan Breslow, the 30-year-old chairman of the financial platform Bolt and a Miami-based entrepreneur worth $1.3 billion, was named this year’s youngest self-made billionaire. 93 billionaires are 40 years or younger, whereas the average age of billionaires on the entire list is 66.

Other Notable Billionaires on the List

There are 3,279 new billionaires on the list, up from 3,112 last year. According to a news release by Hurun, the total wealth of billionaires experienced a 9% growth while their number increased by 5%. The richest individuals have links with 2,435 firms in 73 countries.

The current year’s wealth calculations are valid until January 15th. According to the report, AI growth generated for the first time more than half of the newly earned wealth.

“AI has been the major driver for wealth growth,” Hurun’s chairman and chief researcher, Rupert Hoogewerf, said in a statement. “Whilst [Nvidia president] Jensen Huang has grabbed many of the headlines as Nvidia broke through the US$2 trillion mark and catapulting him into the Hurun Top 30 as a result, the billionaires behind Microsoft, Google, Amazon, Oracle and Meta have seen significant surges in their wealth as investors bet on the value generated by AI.”

Billionaire Distribution by Country and City

Despite the loss of 155 billionaires, China still has the most (814), according to the survey. The United States added 109 billionaires, bringing its total to 800. According to the research, India has added 84 billionaires, making it nearly twice as many as the United Kingdom.

If there is a billionaire capital, it is New York, where more billionaires live than anywhere else; London came in second, and Mumbai came in third, edging out other cities to become Asia’s billionaire hub.

According to Hurun, the world’s wealthiest made the most money in financial services (10%), consumer goods (8%), food and beverages (7%), and real estate (7%). It was a “good year” for media and entertainment, which contributed US$226 billion, beating software and services (149 billion), financial services (118 billion), and retail (104 billion).

Also read: https://techmin.org/elon-musk-starship-set-to-break-nasas-record/

Conclusion: Evolving Dynamics of Global Wealth

Not everyone won. According to the report, 1,346 billionaires’ wealth dropped; 278 of them were removed from the list, with 208 coming from China.

“Wealth creation in China has gone through deep changes these last few years, with the wealth of billionaires from real estate and renewables down,” Hoogewerf said in a news release. “While up to 40% of the Hurun Global Rich List from the peak two years ago have lost their billionaire status, China has added 120 new names to the list.

According to the research, the current rankings were a “bad year” for healthcare, with millionaires losing US$75 billion; industrial products lost US$46 billion; food and drinks lost US$40 billion; and real estate lost US$32 billion.

Show Buttons
Hide Buttons