Taylor Swift Among New Entrants on Forbes Billionaires List: A Look at the Wealthiest Individuals of 2024

Taylor Swift Among New Entrants on Forbes Billionaires List: A Look at the Wealthiest Individuals of 2024

Felix Yim 03/04/2024
Taylor Swift Among New Entrants on Forbes Billionaires List: A Look at the Wealthiest Individuals of 2024

Taylor Swift has recently ascended to the ranks of the world's wealthiest individuals.

According to a new report from Forbes, the renowned American pop star, whose career has reached unparalleled heights, has made her debut on the prestigious Forbes World's Billionaires List with a staggering net worth of $1.1 billion (£877 million). Alongside Swift, Sam Altman, the creator of the AI chatbot ChatGPT, has also joined the billionaire club, boasting a net worth of $1 billion (£800 million). Topping the list are Bernard Arnault and his family, the French luxury goods titans, with an estimated net worth of $233 billion (£185 billion).

Forbes' latest report indicates a record number of billionaires for the year 2024, totaling 2,781 individuals. This figure represents an increase of 141 from the previous year and surpasses the previous record set in 2021 by 26. Additionally, Forbes notes that the collective wealth of these elite individuals has soared to unprecedented levels, reaching a staggering $14.2 trillion (£11.3 trillion).

Taylor Swift's inclusion on the billionaire list comes as no surprise given her immense success and influence in the entertainment industry. The singer-songwriter has achieved megastar status, as evidenced by her remarkable achievements at this year's Grammy Awards, where she became the first artist to win the prize for Album of the Year four times. Notably, her album "1989 (Taylor's Version)" emerged as the best-selling vinyl LP of the past year.

Swift's impact extends beyond the realm of music, with her presence even affecting viewership of American football games. Her attendance at games to support her boyfriend, Travis Kelce, has been credited with boosting NFL viewing figures, underscoring her widespread appeal and influence across various domains.

The list of the top 10 wealthiest individuals is dominated by figures from the United States, with eight out of ten hailing from the nation. Following Bernard Arnault and his family, Elon Musk, the visionary entrepreneur behind Tesla and X (formerly Twitter), ranks second on the list, boasting an estimated net worth of $195 billion (£155 billion). Meanwhile, Jeff Bezos, the founder of Amazon, occupies the third position.

Despite Musk's considerable wealth, which has seen an 8% increase from the previous year, his net worth has dipped compared to November 2021 when he became the first person ever to attain a net worth of $300 billion (£239 billion). Notable newcomers to Forbes' billionaire list include basketball legend Magic Johnson, with a wealth of $1.2 billion (£950 million), and TV producer Dick Wolf, known for his work on acclaimed series such as "Law and Order" and "Chicago PD," also with a net worth of $1.2 billion.

According to Chase Peterson-Withorn, senior editor on wealth for Forbes, the past year has been remarkable for the world's wealthiest individuals, with a record-breaking 14 centi-billionaires now boasting 12-figure fortunes. Despite economic uncertainty for many, the super-rich continue to thrive, amassing unprecedented wealth and influence.

Forbes' analysis also highlights the significant disparities in wealth distribution, with just 0.5% of the world's billionaires holding 14% of all billionaire wealth. Geographically, the United States maintains its position as the country with the highest number of billionaires, with a record 813 individuals on the list. China follows closely behind, with India rounding out the top three.

In the United Kingdom, hedge fund manager Michael Platt emerges as the wealthiest individual, followed by Sir Jim Ratcliffe, part-owner of Manchester United, and renowned inventor Sir James Dyson. However, Forbes reports that 189 individuals have fallen off the billionaire list, including 129 from mainland China, primarily due to weak consumer spending and a collapse in the real estate market.

Additionally, 32 billionaires have passed away, including notable figures such as Egyptian tycoon Mohamed Al-Fayed, former Italian Prime Minister Silvio Berlusconi, former Chilean President Sebastián Piñera, and renowned musician Jimmy Buffett.

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Felix Yim

Tech Expert

Felix is the founder of Society of Speed, an automotive journal covering the unique lifestyle of supercar owners. Alongside automotive journalism, Felix recently graduated from university with a finance degree and enjoys helping students and other young founders grow their projects. 

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