The first half of 2024 was a rollercoaster ride for the world’s tech billionaires, with fortunes rising and falling in response to strategic business moves, market dynamics, and broader economic trends.
Here’s a closer look at how the top tech magnates navigated the year’s first six months and what drove the changes in their wealth.
Elon Musk: The visionary gambler
Net Worth: $205.4 billion (June 2024) | Up $54.1 billion from February 2024
Elon Musk’s journey in the first half 2024 was nothing short of dramatic. After starting the year as the world’s richest person, Musk saw his net worth plummet by $68.7 billion in January following a Delaware court’s ruling that slashed his compensation package and a weaker than expected sales forecast from Tesla.
However, his fortunes rebounded in March when Tesla’s stock surged, adding $27 billion to his net worth.
The most significant boost came in May when Musk regained the title of the world’s richest person. This resurgence was largely driven by his new AI venture, xAI, which raised $6billion from private investors, valuing the company at $24 billion.
Jeff Bezos: Steady growth amidst challenges
Net Worth: $203.2 billion (June 2024) | Up $34.8 billion from January 2024
Jeff Bezos, who started the year at $168.4 billion, saw a consistent rise in his wealth throughout the first half of 2024, primarily driven by the steady performance of Amazon.
However, April posed a challenge as Amazon’s shares took a hit, leading to a $5 billion drop in Bezos’s wealth. Despite this, Bezos’s overall net worth by June was bolstered by a rebound in Amazons stock reflecting the company’s strategic investments in AI and logistics automation, which have kept Amazon ahead of its competitors.
Mark Zuckerberg: Betting big on AI, quietly dumps Metaverse
Net Worth: $176.5 billion (June 2024) | Up $51.2 billion from January 2024
Mark Zuckerberg’s fortunes saw a remarkable climb in early 2024, driven by Meta’s aggressive push into AI. Zuckerberg added $35 billion to his net worth in February alone, as Meta’s stock surged on the back of positive market reception to its new AI-powered tools. However, the momentum slowed in April with Meta’s stock dropping 13% erasing $19 billion from Zuckerberg’s wealth.
Despite this, his overall net worth by June reflected a significant increase from the start of the year, signalling investor confidence in Meta’s long-term vision and its potential to shape the future of digital interaction.
