$13.4 trillion: the total net worth of the world’s 3,508 billionaires

More than $13,400,000,000,000 – if you are struggling to read all the zeroes, chances are you are probably not part of the 0.00004% club.

A new report by a wealth intelligence firm estimates that the world’s 3,508 billionaires are worth a staggering $13.4 trillion, a 10.3% increase in total net worth last year.

With an estimated total of 8.2 billion people in the world, the 3,508 billionaires account for just 0.00004% of the global population.

Wealth concentration at the very top has become so egregious that the numbers are skewed even among that tiny population of 3,508 billionaires.

Twenty-six “super billionaires” whose net worth exceeds $50 billion account for 21% of the $13.4 trillion figure, a five-fold increase in percentage terms over the last decade.

Malta is not immune to this global bottom-to-top shift in wealth transfer, with the wealthiest 10% owning 90% of the country’s business wealth as of last year, according to Central Bank figures. 

The total number of billionaires worldwide increased by 5.6% in 2024. Overall, 2024 was the third consecutive year which saw billionaires increase the size of their generous share of the economic pie.

The report states that despite the volatility of global markets after the COVID pandemic and ongoing wars in several parts of the globe, “a gradual reduction in global interest rates and inflation, rising corporate earnings, stabilising real estate markets, a rally in digital assets and still fervent investor enthusiasm for all things AI” has largely shielded billionaires’ wealth from these shocks.

Known formally as the 2025 Billionaire Census, this year marks the 12th edition that was compiled by wealth intelligence firm Altrata.

With over a third of the world’s billionaires residing in North America, the continent remains the undisputed home of the world’s wealthiest individuals, followed by Europe at 28.6% and Asia at 23.6%.

While most billionaires would like you to believe that their wealth is earned through their own hard work, the data suggests otherwise.

A separate report published earlier this year by Oxfam shows that 60% of billionaire wealth “comes from either inheritance, cronyism and corruption or monopoly power”, with 2023 being the first year in which more billionaires were created by inheritance rather than entrepreneurship.

In contrast, around 3.5 billion people across the globe – or 44% – live on less than the equivalent of $6.85 per day.

By far the biggest beneficiaries of this massive increase in wealth inequality are US tech oligarchs whose company stocks continue to hit record highs fueled by massive investment in artificial intelligence.

Silicon Valley tycoons like Jeff Bezos, Mark Zuckerberg, Bill Gates and Elon Musk saw their wealth increase by 198% in the last decade, with the second fastest growing industry being hospitality and entertainment at 146%.

Collectively, European billionaires – 1,002 individuals as of last year – are worth $3.3 trillion, half the US billionaires’ total net worth of $6 trillion.

“Economic performance in the region’s largest billionaire markets of Germany, the UK, Switzerland and France remained lackluster amid cost of living pressures, structural constraints, soft external demand, rising political fragmentation and the ongoing effects of the Ukraine-Russia conflict,” the Altrata report notes.

While US billionaires had one of their best years ever, billionaire wealth growth in Europe was slower, though the report notes “firmer growth trends more evident in southern and central Europe on the back of buoyant tourism sectors and expanded EU grants.”

“Equity market developments were mixed; major stock markets were resilient in local currency terms…but underperformed their North American and most Asian peers. Relative currency depreciation against the US dollar, muted real estate markets, and the modest weighting of tech stocks in the region’s main indices constrained overall portfolio gains,” the report concludes.