The combined wealth of the world's 500 richest individuals has reached a record high of $10 trillion.

The relentless rise of American tech stocks has played a crucial role in boosting the fortunes of billionaires such as SpaceX, PayPal, and Neuralink founder Elon Musk, Meta's co-founder Mark Zuckerberg, and NVIDIA co-founder Jensen Huang, among others. This year alone, eight tech titans have collectively earned over $600 billion, accounting for 43% of the $1.5 trillion increase among the 500 wealthiest individuals tracked by the Bloomberg Billionaires Index.

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In 2024, the 500 wealthiest individuals in the world increased their fortunes to a record level of $10 trillion, comparable to the combined annual GDP of Germany, Japan, and Australia, according to Bloomberg.

The relentless rise of American tech stocks played a crucial role in boosting the fortunes of Elon Musk, founder of SpaceX, PayPal, and Neuralink, Meta's Mark Zuckerberg, NVIDIA co-founder Jensen Huang, and other billionaires. This year, just eight tech titans earned over $600 billion, accounting for 43% of the $1.5 trillion increase among the 500 wealthiest individuals tracked by the Bloomberg Billionaires Index.

Among the world's richest in 2024, Elon Musk dominated, being close to newly elected U.S. President Donald Trump. Specifically, as reported by Bloomberg, Musk's relationship with Trump helped increase the value of his companies, Tesla Inc., SpaceX, and xAI. This boosted his wealth to an unprecedented $442.1 billion, which is $213 billion more than at the beginning of the year. The $237 billion gap between him and Jeff Bezos on December 17 was the largest ever recorded between the first and second positions in the Bloomberg Billionaires Index.

Overall, the wealthiest individuals in the world benefited from a stock market that exceeded expectations in 2024. Additionally, Donald Trump's victory in the elections contributed to this growth by triggering a historic surge in digital assets, with Bitcoin surpassing $100,000 for the first time.