Billionaires' Billions Are Increasing Faster Than Ever

Billionaires' wealth has surged to $20.1 trillion, underscoring an acceleration in the billionaire class. Fifteen years ago, global billionaire net worth stood at $4.5 trillion; by 2024 it had risen to $14.2 trillion, and today it tops $20 trillion, equaling about a fifth of world annual output. The rise is driven by a handful of technology leaders shaping artificial intelligence and capital markets, with Nvidia, Apple, Microsoft, Alphabet, Meta and TSMC each valued at over $1 trillion. The trajectory is linked to US tax policy shifts and to SpaceX’s planned IPO, which could place a Day 1 valuation around $1.77 trillion and give Elon Musk roughly 42% of the stock.