Taylor Swift joins world’s richest on billionaire list

London, United Kingdom: Taylor Swift has joined Elon Musk as ranking among the world’s wealthiest people, according to a new rich list.

The American pop star entered the Forbes World’s Billionaires List for the first time with $1.1bn (£877m), along with Sam Altman, creator of the AI chatbot ChatGPT on $1bn (£800m). LVMH French luxury goods titan Bernard Arnault and his family topped the chart with an estimated $233bn (£185bn).

Forbes said there were a record 2,781 billionaires for 2024. The figure is 141 more than last year and 26 more than the previous record set in 2021. Forbes added the elite were richer than ever – with a collective wealth of $14.2tn (£11.3tn).

Singer-songwriter Swift entered the rich list after achieving megastar status. She stole the show at this year’s Grammy Awards, becoming the first performer to win the prize for album of the year four times. Her album 1989 (Taylor’s Version) was also the best-selling vinyl LP of last year. Swift’s success is not just confined to the world of music. Her mere presence at American football games to watch her boyfriend Travis Kelce has been credited with raising NFL viewing figures.

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When it comes to the top 10 richest people on the planet, eight listed were from the US – six of whom had made their money in technology industries. After Frenchman Mr. Arnault and his family, Mr Musk, the owner of Tesla and X, formerly Twitter, is listed second, with an estimated net worth of $195bn (£155bn).

He is followed in third by Amazon owner Jeff Bezos.

Mr Musk’s riches are up 8% from last year but down on his net worth in November 2021, when he became the first person ever to be worth $300bn (£239bn).

Also joining Forbes’s list is basketball legend Magic Johnson with wealth of $1.2bn (£950m) and TV producer Dick Wolf, behind the US Law and Order and Chicago PD series, also on $1.2bn. Chase Peterson-Withorn, senior editor on wealth for Forbes, said it had been an “amazing” year for the world’s richest people.

“A record-breaking 14 centi-billionaires have 12-figure fortunes. Even during times of financial uncertainty for many, the super-rich continue to thrive,” he added.

The $100bn Club

Forbes said the class of billionaires for 2024 were 255% richer than a decade ago, now worth $2tn (£1.59tn) in all, meaning just 0.5% of the world’s 2,781 billionaires hold 14% of all billionaire wealth.

Geographically, the US still has more billionaires than any other country, with a record 813 on the list. China remains second, followed by India.

In the UK, hedge fund manager Michael Platt is the richest person, followed by part-owner of Manchester United Sir Jim Ratcliffe and inventor Sir James Dyson.

Forbes said 189 people had fallen off the list including 129 from mainland China, where weak consumer spending and a collapse in the real estate market wiped billions off portfolios.

Another 32 billionaires died, including Egyptian tycoon Mohamed Al-Fayed, former Italian Prime Minister Silvio Berlusconi, former Chilean President Sebastián Piñera and Margaritaville singer Jimmy Buffett.

Jemma Dempsey, BBC News
2 April 2024