Elon Musk Leads Superbillionaires Index; Ambani & Adani Join

According to Altrata, a company that monitors global wealth, Musk's fortune of $419.4 Billion makes him the richest person on Earth. The Wall Street Journal report further estimates that his assets are over two million times more than an average American family's net worth. 

Due to a rise in the number of billionaires in the world, a new class of the ultra-rich has emerged known as superbillionaires- those whose wealth exceeds $50 Billion. Musk is also one of the other twenty four persons who belong in that category. 

These superbillionaires, according to Altrata, held 16% of the total wealth possessed by the billionaires as of early February. This figure was only 4% back in 2014. They collectively have a wealth comparable to France’s nominal GDP which equals 3.3 trillion dollars. Out of this 24 superbillionares, 16 have crossed into centi-billionaire status by having a minimum of $100 billion each. 

A rise in the number of superbillionaires has led to a sudden increase In the demand for luxurious goods, especially real estate where ultra rich individuals are rapidly buying expensive properties from all around the globe. 

Notably, Mukesh Ambani and Gautum Adani from India have entered the list of global billionaires.

Differences between wealthy and wealthy over rich. 

Experts point out that this pattern reveals an emerging cleft, not simply between the wealthy and non-wealthy, but even within the billionaires. “For ages, some billionaires kept enormous amounts of money, but during the last few decades, something has shifted,” stated Maya Imberg, head of thought leadership and analytics at Altrata, and a researcher on this elite segment. “Some of these fortunes are unimaginable in terms of their magnitude.”  

This shift of wealth is transforming high-end luxury property markets in New York Miami, Palm Beach, Los Angeles and Aspen.  

These markets are experiencing a boom in severely modernized new skyscrapers and custom-designed mansions for billionaires, as well as a new wave of billion dollar home sales.