Super Rich Club
Super Rich Club

As of March of this year, the $100 billion club, an organization comprised of global billionaires with a minimum net worth of $100 billion, reported 14 members, an increase of six individuals from the same month last year. The club's membership has since reached an all-time high.

In comparison to a decade ago, the average wealth of global billionaires increased by 120%. However, individuals belonging to the $100 billion club experienced a potentially greater return of 255%. The value of their assets surpasses both the inflation rate (which is greater than 32%) and the S&P 500 index's upward momentum (which is greater than 182%).

As of the list's closure, the combined assets of fourteen billionaires amounted to a sum of 2,000 billion USD. This means that despite comprising only 0.5% of the 2,781 billionaires in the world, this group may control as much as 14% of total assets.

When Forbes initially published its global billionaires ranking in 1987, only two Japanese businessmen topped the list with assets exceeding 10 billion USD, which is equivalent to approximately 27 billion USD in present-day value. Billionaires possessing such wealth will be positioned a mere 69th on the 2024 list.

It was the dotcom bubble that produced Bill Gates, the initial proprietor of $100 billion USD. In 1999, a brief surge in Microsoft stock prices propelled Gates' net worth beyond eleven figures, prior to a financial crisis that reduced it by nearly half.

Despite market upswings preceding and following the Great Recession, nobody has approached this milestone in close proximity in nearly two decades.

Jeff Bezos did not accomplish this feat and become the second billionaire with a net worth of $100 million until 2017, when Amazon reached $1,000 billion in market capitalization. The $100 billion club, on the other hand, will not continue to add new members such as Elon Musk and Bernard Arnault until 2021.

The owner of the luxury goods conglomerate LVMH, Bernard Arnault, is currently the wealthiest person in the world with a net worth of $233 billion.

The fashion behemoth disclosed a net profit of $16.5 billion on $94 billion in revenue the year prior. Arnault formally established his succession strategy to maintain familial dominance in January by presenting a proposition to include his two eldest sons, Alexandre and Frédéric, on the board of directors of LVMH. Delphine and Antoine.

Regarding the $100 billion club, the oldest billionaire is Warren Buffett. The chairman of Berkshire Hathaway possesses $133 billion at the age of 93. Since the previous year, Berkshire's stock has risen 30% to an all-time high earlier this year.

French businesswoman Francoise Bettencourt Meyers, positioned at the bottom of the ranking, possesses the potential to ascend to the 15th position among billionaires and become the inaugural female billionaire to enter the $100 billion club. At present, the heir to L'Oreal holds approximately 99.5 billion USD in assets, reflecting a nearly $29 billion growth since the commencement of 2023.

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