The $200 billion club is an elite group consisting of only three individuals worldwide: Elon Musk, Jeff Bezos, and the recent addition, Mark Zuckerberg.
These tech entrepreneurs have amassed fortunes that surpass the $200 billion mark, a rare feat among the nearly 8 billion people on Earth and the 2,781 billionaires recorded globally.
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According to the Bloomberg Billionaires Index, here are the $200 billion club members
1. Elon Musk — The richest person in the world
Elon Musk, CEO of Tesla and SpaceX, leads the $200 billion club with a net worth of $270 billion as of September 26, 2024, according to the Bloomberg Billionaires Index. Musk’s wealth primarily derives from his holdings in Tesla, the electric vehicle company, where he holds significant shares. His ventures also include SpaceX, a private space exploration company, which has contributed to his wealth. Musk has held the title of the richest person in the world for several years, surpassing fellow tech magnates through the explosive growth of Tesla’s stock and SpaceX’s successful space missions.
2. Jeff Bezos — Amazon’s founder
Jeff Bezos, the founder of Amazon, is the second member of the club with a net worth of $215 billion. Bezos accumulated his fortune primarily from Amazon, the e-commerce giant he founded in 1994. His wealth has fluctuated over the years but has consistently placed him near the top of global wealth rankings. While Bezos stepped down as CEO of Amazon in 2021, his financial ties to the company through stock holdings continue to generate significant income. In addition to his business ventures, Bezos has invested in space exploration through his company Blue Origin.
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3. Mark Zuckerberg — CEO of Meta
Mark Zuckerberg, CEO and co-founder of Meta (formerly Facebook) is the newest entrant to the $200 billion club, with a net worth of $202 billion. In 2024, Zuckerberg saw the largest wealth increase among billionaires, adding $71.8 billion to his fortune. His wealth primarily comes from his approximately 13 per cent stake in Meta, equating to about 345.5 million shares. This massive gain in wealth is attributed to Meta’s strong performance in 2024, as well as its continued dominance in the social media space and virtual reality investments.
Zuckerberg’s business success contrasts with his salary, as he famously takes home a symbolic $1 salary. However, he earned $24.4 million in “other compensation” this year, reflecting his substantial stock ownership in Meta.
Tech Dominance in the Billionaire Landscape
All three members of the $200 billion club are based in the United States and are deeply tied to the technology industry. The prominence of tech in wealth generation is evident, as the majority of the world’s top billionaires derive their fortunes from this sector. Of the top 20 billionaires in the world, 14 are from the United States, underscoring the dominance of American tech companies in creating unprecedented wealth.
The $200 billion club serves as a reflection of the significant financial power wielded by these three individuals. Beyond their wealth, they play central roles in driving innovation in space exploration, e-commerce, and social media.
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Philanthropic commitments
Each of these billionaires has made significant philanthropic commitments. Mark Zuckerberg, alongside his wife Priscilla Chan, has committed to giving away 99 per cent of his Meta stock to philanthropic causes. The couple has pledged $3 billion toward initiatives aimed at curing, preventing, or managing all diseases by 2100. They have also donated to educational causes, including a notable $100 million donation to the Newark, New Jersey public school system.
Jeff Bezos has focused part of his philanthropic efforts on climate change and space exploration. He established the Bezos Earth Fund, a $10 billion initiative aimed at combating climate change. Additionally, his space company, Blue Origin, aligns with his long-term vision of promoting space travel and sustainability.
Elon Musk has contributed to various causes, including renewable energy through Tesla’s solar initiatives and funding for research into space travel and interplanetary colonization via SpaceX. Musk has also made donations to educational programs, scientific research, and disaster relief efforts.
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