KUALA LUMPUR (April 3): The 2,781 billionaires around the world are worth a record US$14.2 trillion (RM67.4 trillion) altogether, according to Forbes.
In a report on Tuesday, the magazine said with many markets up, the surge in wealth has made 265 people billionaires over the past year, up from 150 newcomers in 2023.
It said these fresh faces include a fashion legend, an NBA hall-of-famer and one very famous pop star.
They collectively command US$510 billion in wealth, or US$1.9 billion on average, and hail from 32 countries.
Forbes said the US 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, and whose net worth stands at an estimated US$9.1 billion.
China maintained 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, who are worth an estimated US$4.2 billion each. They co-founded the Gen Z fast-fashion giant Shein.
India, meanwhile, added 25 new billionaires, including Renuka Jagtiani (US$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.
Taylor Swift
Forbes said the most famous newcomer is Taylor Swift, whose record-breaking, five-continent Eras Tour is the first to surpass US$1 billion in revenue.
The 34-year-old pop star amassed an estimated US$1.1 billion fortune, based on earnings from the blockbuster tour, the value of her music catalogue and her real estate portfolio.
Swift is the first musician to hit 10-figure status solely based on her songs and performances.
Meanwhile, NBA legend and businessman Earvin "Magic" Johnson is new this year, too, with an estimated net worth of US$1.2 billion, thanks to investments in professional sports teams, movie theatres, Starbucks franchises, real estate and healthcare.
More than half of this year’s newcomers are self-made billionaires, meaning they founded the companies that made them wealthy rather than inheriting their fortunes.
Forbes said the technology sector accounts for 38 newcomers, the second most, behind manufacturing.
Booming demand for computer chips and increased interest in generative artificial intelligence helped drive up shares of IT infrastructure firm Super Micro Computer, making its co-founder and chief executive officer, Charles Liang, the richest tech newcomer, worth an estimated US$6.1 billion. Türkiye’s Haluk Bayraktar built a US$1.1 billion fortune as CEO of military drone maker Baykar Defense.