Billionaires hold immense sway in the global economy, with their fortunes anchored in a variety of industries. Nearly one in six billionaires, or just over 15%, have amassed their wealth in finance and investments, making it the largest sector.
This group of 427 individuals includes newcomers like Ben Navarro of Sherman Financial Group and Cristina Junqueira of Nubank. Collectively, these billionaires are worth $2.17 trillion, with Warren Buffett leading the charge, adding $27 billion to his wealth thanks to a surge in Berkshire Hathaway’s stock prices.
Technology ranks second, home to 342 billionaires, up by 29 from last year. Tech billionaires are the wealthiest of all sectors, with a combined net worth of $2.6 trillion. Jeff Bezos remains the richest in this group, followed by Mark Zuckerberg, whose wealth saw a massive $116.2 billion jump in just one year.
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Manufacturing comes in third, producing 328 billionaires, with the sector seeing the most newcomers this year. New additions include the Chao family of Westlake Corporation and Don Levin of D.R.L. Enterprises. Fashion and retail is the fourth largest industry, with 285 billionaires, including Christian Louboutin, the creator of the iconic red-sole shoes. Food and beverage ranks fifth with 210 billionaires, and new faces like Todd Graves, founder of Raising Cane’s, are making their mark.
These industries not only drive the fortunes of the world’s richest individuals but also shape the broader global economy.
Here are the top 10 biggest industries for billionaires in 2024 as of November 20, compiled by Forbes.
1. Finance & Investments — 427 billionaires | 15% of the list
The finance and investment sector remains the largest industry for billionaires. This group includes individuals who have made their fortunes by managing investments, operating financial institutions, and leveraging capital markets. Warren Buffett, the chairman and CEO of Berkshire Hathaway, tops this sector with a net worth of $147.6 billion. Buffett’s success stems from his expertise in value investing and his long-standing leadership in the financial world.
2. Technology — 342 billionaires | 12% of the list
The technology industry is home to 342 billionaires, and its significance in the modern economy cannot be overstated. It is one of the fastest-growing sectors, with billionaires rising from their involvement in software development, internet services, and technology hardware. Larry Ellison, co-founder of Oracle, is the richest individual in this industry, valued at $231.3 billion. Oracle’s dominance in enterprise software and cloud computing has cemented Ellison’s position at the top.
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3. Manufacturing — 328 billionaires | 12% of the list
Manufacturing continues to be a major source of wealth for billionaires, with 328 individuals in the sector. Many of these billionaires have made their fortunes through industrial products, machinery, and the production of consumer goods. Reinhold Wuerth, chairman of Wuerth Group, leads this category with a net worth of $35.9 billion. His company, a leader in the screw and fastener market, is a prime example of manufacturing success on a global scale.
4. Fashion & Retail — 285 billionaires | 10% of the list
Fashion and retail account for a significant portion of the world’s billionaires, with 285 individuals operating in this space. Bernard Arnault, the chairman and CEO of LVMH, is the wealthiest individual in this sector, valued at $157.6 billion. LVMH is a global powerhouse in luxury goods, managing iconic brands such as Louis Vuitton, Christian Dior, and Moët & Chandon. Arnault’s leadership has helped LVMH become a leader in both fashion and retail.
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5. Food & Beverage — 210 billionaires | 8% of the list
The food and beverage sector continues to produce significant wealth, with 210 billionaires involved in everything from bottled water to food production. Zhong Shanshan, the chairman of Nongfu Spring, is the richest person in this industry with a net worth of $51.2 billion. His company’s dominance in the bottled water market, along with its expansion into pharmaceuticals, has positioned him as a leading figure in the sector.
6. Diversified — 201 billionaires | 7% of the list
Diversified industries encompass a wide range of sectors, with billionaires involved in multiple business areas. Mukesh Ambani, chairman of Reliance Industries, is the richest individual in this category, with a net worth of $97.9 billion. His company’s interests span petrochemicals, oil, gas, retail, and telecommunications, making it one of the most influential conglomerates in the world.
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7. Healthcare — 197 billionaires | 7% of the list
Healthcare remains a vital industry for billionaires, with 197 individuals building their wealth in pharmaceuticals, medical devices, and healthcare services. Dilip Shanghvi, founder of Sun Pharmaceutical Industries, is the wealthiest person in this sector, with a net worth of $28.7 billion. His company is India’s largest pharmaceutical firm and has a significant global presence, particularly in the generics market.
8. Real Estate — 190 billionaires | 7% of the list
Real estate is another significant wealth generator, with 190 billionaires in the sector. Many of these individuals have made their fortunes through property development, investment, and management. Lee Shau Kee, the founder of Sun Hung Kai Properties and Henderson Land Development, is the richest person in this industry, valued at $29.1 billion. His companies are some of Hong Kong’s largest property developers.
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9. Media & Entertainment — 104 billionaires | 4% of the list
The media and entertainment industry has 104 billionaires, including those involved in film production, publishing, broadcasting, and digital media. David Thomson and his family, who control a media empire founded by his grandfather Roy Thomson, are the wealthiest individuals in this sector, with a net worth of $69 billion. Their business empire includes major media holdings across television, publishing, and digital platforms.
10. Energy — 98 billionaires | 4% of the list
The energy sector, which includes natural gas, oil, and renewable energy, remains a powerful wealth driver. Leonid Mikhelson, founder of Novatek, is the richest person in this category, with a net worth of $27.4 billion. His company is a leading producer of natural gas in Russia, and its involvement in the energy sector has made him a key figure in global energy markets.
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