America's Wealthiest: Who is the Richest Person in the USA and How Did They Build Their Fortunes?

The question “who is the richest person in the USA” has a clear answer in 2024: Elon Musk, with a staggering net worth of $244 billion. But the landscape of American wealth tells a far more interesting story than just one name at the top. Using the latest 2024 Forbes 400 rankings, the top earners represent decades of innovation, strategic business moves, and in some cases, significant year-over-year wealth gains that reshaped the billionaire hierarchy.

The New Wealth Elite: How Fast Can Fortunes Grow?

What’s remarkable about 2024’s rankings isn’t just who is the richest person in the USA—it’s how dramatically some fortunes shifted in a single year. Larry Ellison’s net worth jumped by $68 billion since 2023, catapulting the Oracle co-founder into the #2 overall global rank with $175 billion. Meanwhile, Mark Zuckerberg experienced one of the most dramatic rebounds, gaining over $116 billion as Meta stock surged, bringing his total to $181 billion at age 40.

Even at the top, Elon Musk expanded his lead significantly. The Tesla and SpaceX CEO now controls approximately 12% of Tesla (excluding options) and an estimated 42% stake in SpaceX. His $244 billion fortune places him as unquestionably the richest man in America, commanding nearly $64 billion more than the second-place billionaire.

From Garage Startups to Global Empires

The journeys of America’s wealthiest individuals reveal common threads: education, timing, and relentless innovation. Jeff Bezos, ranked second in U.S. wealth with $197 billion, started Amazon from a garage in 1994. Though he stepped down as CEO in 2021, he remains executive chairman and retains just under 10% ownership of the e-commerce giant that transformed retail forever.

Similarly, Mark Zuckerberg built Facebook (now Meta) while still a Harvard student in 2004, maintaining a 13% stake after taking the company public in 2012. His $181 billion net worth reflects the explosive growth of social media dominance and recent market recovery.

The Google founders tell another compelling story. Larry Page and Sergey Brin both attended Stanford when they co-founded Google in 1998, with both now controlling their respective fortunes through Alphabet. Page holds $136 billion, while Brin—America’s wealthiest immigrant, having emigrated from Russia at age 6—commands $130 billion.

Tech Titans Who Defined Computing Eras

Microsoft’s influence on American wealth runs deep. Bill Gates pioneered software in the 1980s and 1990s, accumulating $107 billion before shifting focus to philanthropy through the Bill & Melinda Gates Foundation, to which he has donated over $59 billion. Steve Ballmer, who joined Microsoft as employee #30 in 1980 and served as CEO through 2014, experienced massive wealth appreciation with a current net worth of $123 billion—a $42.3 billion jump from 2023—partly due to his 2014 investment in the Los Angeles Clippers for $2 billion.

Warren Buffett, now 94, remains America’s stock market legend. His $150 billion fortune flows primarily through Berkshire Hathaway, a conglomerate owning dozens of household-name brands like Geico and Duracell. Buffett bought his first stock at age 11, and in 2010 co-founded the Giving Pledge with Bill Gates, committing billionaires to donate at least half their wealth to charitable causes.

Building Wealth Beyond Tech

Not all American wealth originates from Silicon Valley. Michael Bloomberg, ranked 10th with $105 billion, built his fortune from the ground up on Wall Street before creating Bloomberg LP into a financial media and technology powerhouse. His $10.5 billion wealth increase since last year’s Forbes ranking demonstrates how diversified business models continue generating returns.

Larry Ellison, Oracle’s co-founder, represents another wealth-building archetype. Still owning approximately 40% of Oracle, Ellison commands $175 billion and famously acquired nearly all of Hawaii’s Lanai island in 2012 for $300 million, where he now resides full-time.

The Verdict: Self-Made Success Dominates America’s Top 10

Every person on this list built their wealth through innovation, entrepreneurship, and strategic positioning in growth industries. From e-commerce to artificial intelligence, from spacecraft to social networks, America’s richest demonstrate that transformative technology creates generational wealth. The question of who is the richest person in the USA may have Elon Musk at the top today, but the velocity of wealth change suggests the rankings remain dynamic, driven by market performance and business outcomes.