Billionaires are riding high, a record 2,781 of them around the globe this year, worth a record $14.2 trillion altogether. With many markets up, the surge in wealth has made 265 people billionaires over the past year, up from 150 newcomers in 2023.
Once again, the United States leads the pack, with 67 Americans joining the ranks. The wealthiest among them is Todd Graves, the founder of fast-food chain Raising Cane's, whose net worth stands at an estimated $9.1 billion. China maintains the second spot, nearly doubling its number of new billionaires from last year, to 31, despite troubles in the Asian nation. The richest are Maggie Gu, Molly Miao and Ren Xiaoqing (worth an estimated $4.2 billion each), who cofounded the Gen Z fast-fashion giant Shein. India, meanwhile, added 25 new billionaires, including Renuka Jagtiani ($4.8 billion), the chief executive of e-commerce conglomerate Landmark Group, which was founded by her late husband Micky Jagtiani, who died in May 2023.
The richest women to join the ranks this year: Sofia Högberg Schörling and her sister Märta Schörling Andreen. The two daughters of Swedish investing tycoon Melker Schörling, who died in late 2023, have estimated net worths of $5.6 billion each. They are among 46 women to become billionaires over the past year.
The most famous newcomer is, of course, Taylor Swift, whose record-breaking, five-continent Eras Tour is the first to surpass $1 billion in revenue. The 34-year-old pop star amassed an estimated $1.1 billion fortune, based on earnings from the blockbuster tour, the value of her music catalog and her real estate portfolio. Swift is the first musician to hit ten-figure status solely based on her songs and performances.
NBA legend and businessman Earvin "Magic" Johnson is new this year, too, with an estimated net worth of $1.2 billion, thanks to investments in professional sports teams, movie theaters, Starbucks franchises, real estate and healthcare.
At 19 years old, Livia Voigt is not only this year's youngest newcomer, but also the world's youngest billionaire. (Previously the youngest was eyeglasses heir Clement Del Vecchio of Italy, who is just two months older.) Voigt and her elder sister Dora Voigt de Assis each inherited a $1.1 billion fortune based on their stakes in Brazilian turbine manufacturer WEG, which was cofounded by their grandfather, the late Werner Ricardo Voigt (d. 2016).
The technology sector accounts for 38 newcomers, the second most, behind manufacturing. Among the 37 newcomers with fortunes in finance and investments: Seth Boro, Scott Crabill and Holden Spaht, all managing partners of private equity firm Thoma Bravo, who are worth an estimated $3.3 billion each. With bitcoin surging, newcomers from crypto include Giancarlo Devasini of Italy, a former plastic surgeon behind Tether, which is known for issuing USDT, the world's most popular crypto stablecoin.
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