Apr 2, 2024 - Business

Taylor Swift named to Forbes' annual billionaire list

Taylor Swift performs at Melbourne Cricket Ground on February 16, 2024 in Melbourne, Australia. (Photo by Graham Denholm/TAS24/Getty Images for TAS Rights Management)

Taylor Swift performs at Melbourne Cricket Ground on February 16, 2024 in Melbourne, Australia. (Photo by Graham Denholm/TAS24/Getty Images for TAS Rights Management)

Taylor Swift is one of 265 new names on Forbes' annual billionaire list with her net worth listed around $1.1 billion.

Why it matters: The list's 2,781 billionaires are now collectively worth a record $14.2 trillion, up from $2 trillion last year.

  • This year's list marks a record number of billionaires, and they are richer than ever, according to Forbes. This year's total net worth surpassed the previous record of $12.2 trillion, set in 2023.
  • Forbes estimated wealth by calculating stock prices and exchange rates from March 8, 2024, while taking into account assets, like stakes in public and private companies, real estate and luxury goods.

By the numbers: Two-thirds of the people on Forbes' list are now worth more than they were a year ago, while only one-fourth were worth less.

  • The fortunes of the top 20 richest people on Earth grew by a combined $700 billion over the last year.
  • Swift reached billionaire status in October 2023, and became the first musician to do so solely on earnings from her music and performances.
  • Other names added to this year's list include NBA hall-of-famer Magic Johnson ($1.2b) and ChatGPT creator Sam Altman ($1b).

Zoom out: Bernard Arnault, CEO of the luxury goods empire LVMH, tops the list as the world's richest man for the second year. He's worth an estimated $233 billion, $22 billion more than in 2023.

  • Elon Musk ($195B), Jeff Bezos ($194B), Mark Zuckerberg ($177B) and Larry Ellison ($141B) round out the top 5.

Worth noting: The United States had the most billionaires (813), followed by China (473, including those in Hong Kong) and India (200).

  • 8 of the list's Top 10 reside in the U.S. Arnault lives in France, and Mukesh Ambani ($116B) lives in India.

Go deeper: The rich now own a record share of stocks

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