Khaberni - In a scene that redefines the standards of wealth and influence in the 21st century, The Wall Street Journal revealed in an extensive report based on data from the financial analysis firm "Altarata" about an unprecedented surge in major individual fortunes around the world.
The wealth of billionaires has risen to $13.4 trillion in 2024, with an annual increase of 10.3% compared to the previous year, marking the highest level in the history of monitoring.
The report attributes this leap to the strong performance of global stock markets and the boom in technology and artificial intelligence sectors, which contributed to sharply and unequally reshaping the global wealth map.
America sits at the top
The report indicates that the number of billionaires worldwide reached 3508 individuals, with 1135 being Americans, about a third of the global total, and the total value of the wealth of American billionaires amounts to $5.7 trillion, representing 43% of the combined wealth of billionaires around the world.
China came in second place with 321 billionaires owning $1.3 trillion, which is equivalent to 10% of the total global wealth.
As for Europe, the number of its billionaires has exceeded the thousand mark for the first time since the data collection began more than a decade ago.
Artificial Intelligence Expands the Gap
"The Wall Street Journal" noted that the surge in the technology and artificial intelligence sector has contributed to doubling the fortunes of major wealthy Americans, including Elon Musk, Mark Zuckerberg, and Jeff Bezos, driven by massive gains in the stock markets.
The report shows that the technology sector led the growth of fortunes by 198% between 2015 and 2025, followed by the hospitality and entertainment sectors by 146%, then health care by 75%, and the financial sector by 74%. In contrast, the real estate sector recorded the weakest performance with a growth rate of only 37% during the same period, reflecting a shift in the economic center of gravity towards the digital economy.
Europe Advances and China Declines
For the first time in a decade, the number of European billionaires exceeded one thousand, according to "Altarata" data, including notable names such as Bernard Arnault, CEO of the French group "LVMH" with a fortune of $236.4 billion, and Dieter Schwarz, owner of the Lidl store chain in Germany with a fortune of $45.9 billion.
In contrast, the position of the Asian region declined after several prominent names in China and Hong Kong fell off the rich list, despite the continued presence of figures such as Zhong Shanshan, founder of the bottled water company Nongfu Spring with an estimated wealth of $79.9 billion, and Pony Ma, CEO of Tencent with a fortune of $71.5 billion.
A New Threshold for Wealth and Disturbing Social Implications
According to the report, the minimum threshold to enter the billionaires' list reached $4.2 billion, while the number of those dropped from the list decreased to only 3.4% in 2024, the lowest rate since 2022. Prominent figures such as King Charles III were excluded, as his fortune was estimated at only $770 million, disqualifying him from the list.
Economic experts confirm that these figures show a widening gap between the rich and the rest of society, as wealth increasingly concentrates in the hands of a small minority, at a time when emerging economies suffer from slowing growth and a decline in income distribution justice.
North America remains the largest center for wealth accumulation in the world, followed by Europe, while Asia continues to lose its competitive position amidst global economic shifts.
Analysts believe that the rise of artificial intelligence will further deepen this disparity between countries and individuals, as economic power shifts towards major tech companies which now produce and simultaneously monopolize wealth.
