Elon Musk, the world's richest person, has a net worth of $419.4 billion, according to Altrata, a global wealth tracking company. His fortune is more than two million times greater than that of the average American family, according to the report obtained by The Wall Street Journal.
An elite group known as superbillionaires, who possess assets valued at $50 billion or more, has emerged as a result of the recent increase in the number of billionaires. There are just 24 individuals who fall into this category, including Musk.
These superbillionaires made up over 16% of all billionaire wealth as of early February, according to Altrata data, up from 4% ten years prior in 2014.
Their net worth was $3.3 trillion, equal to the nominal GDP of France. Sixteen members of this group are centi-billionaires, meaning they each own at least $100 billion.
The rise of superbillionaires has contributed to a boom in the luxury market, especially in real estate, as these extremely wealthy people are accumulating enormous holdings of upscale real estate across the globe.
India's billionaires Mukesh Ambani and Gautam Adani have made the coveted list.
Disparity between the rich and super-rich
According to analysts, this trend highlights a growing divide not only between the rich and the rest of the population, but also within the billionaire class itself. "While billionaires have long held substantial wealth, we're now seeing stark disparities even among them," said Maya Imberg, Altrata's head of thought leadership and analytics, who studies this elite tier. "The sheer scale of some of these fortunes is remarkable."
Hotspots for luxury real estate, including New York, Miami, Palm Beach, Los Angeles, and Aspen, are changing as a result of this concentration of wealth.
In addition to a surge in home sales worth hundreds of millions of dollars, these markets are witnessing an increase in ultra-modern skyscrapers and specially designed mansions for billionaires.
