Taylor Swift joins the world's richest billionaires list

Taylor Swift has recently been included in a list of the world’s richest individuals, joining the likes of Elon Musk.

An American pop star has made her debut on the Forbes World’s Billionaires List, amassing a staggering $1.1 billion (£877 million). Joining her is Sam Altman, the mastermind behind the AI chatbot ChatGPT, who has also reached the impressive milestone of $1 billion (£800 million).

The French luxury goods titan Bernard Arnault and his family have claimed the top spot on the chart with an estimated $233bn (£185bn).

According to Forbes, the number of billionaires reached an all-time high of 2,781 in 2024.

The figure has increased by 141 compared to last year and 26 compared to the previous record set in 2021. According to Forbes, the elite have reached unprecedented levels of wealth, with a combined fortune of $14.2tn (£11.3tn).

Singer-songwriter Swift has made it onto the rich list thanks to her incredible success as a megastar. She captivated audiences at this year’s Grammy Awards, making history as the first artist to win the prestigious album of the year award four times.

Last year, her album 1989 (Taylor’s Version) was the top-selling vinyl LP.

Swift’s achievements extend beyond the realm of music. Her attendance at American football games to support her boyfriend Travis Kelce has been attributed to an increase in NFL viewership.

When it comes to the wealthiest individuals in the world, a significant majority of them hail from the United States, with a notable six of them having amassed their fortunes in the field of technology.

Following Mr. Arnault and his family, Mr. Musk, the owner of Tesla and X (formerly Twitter), is ranked second on the list, with an estimated net worth of $195bn (£155bn).

Jeff Bezos, the owner of Amazon, is currently in third place.

Mr. Musk’s wealth has increased by 8% compared to last year, although it has decreased since November 2021, when he achieved the historic milestone of being the first person ever to have a net worth of $300 billion (£239 billion).

Adding to Forbes’s list are basketball icon Magic Johnson with a wealth of $1.2bn (£950m) and TV producer Dick Wolf, known for his work on the US Law and Order and Chicago PD series, also with a net worth of $1.2bn.

According to Chase Peterson-Withorn, a senior editor at Forbes who specializes in wealth, the past year has been truly remarkable for the wealthiest individuals in the world.

“There are an unprecedented number of individuals with fortunes in the billions.” Even in the midst of economic uncertainty for many, the ultra-wealthy continue to prosper,” he remarked.

The $100bn Club According to Forbes

The group of billionaires for 2024 have seen a significant increase in their wealth over the past decade, now totaling $2tn (£1.59tn) collectively. This means that a mere 0.5% of the world’s 2,781 billionaires possess 14% of the total billionaire wealth.

The United States continues to lead the world in terms of the number of billionaires, boasting a remarkable 813 individuals on the list. China continues to hold the second position, with India following closely behind.

In the UK, hedge fund manager Michael Platt holds the title of the wealthiest individual, closely followed by Sir Jim Ratcliffe, a part-owner of Manchester United, and Sir James Dyson, the renowned inventor.

According to Forbes, a significant number of individuals, particularly from mainland China, have been removed from the list. This is due to the impact of weak consumer spending and a collapse in the real estate market, resulting in substantial losses in their portfolios.

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