Elon Musk Is Once Again the World's Richest, but Walmart Becomes a Threat

2024 has been an impressive year for great fortunes, especially for those setting the pace in the business world. Although Elon Musk continues to top the list of the richest people, his position is increasingly challenged. Despite keeping the throne, the Walton family, owners of Walmart, are dangerously closing in, promising to give a battle in the coming years.

In recent months, the wealth accumulation of the 20 richest people has been surprising. According to Bloomberg, in 2024, the total fortune of all of them increased by $795.8 billion, a considerable jump compared to the previous year. Although technology sectors continue to dominate, traditional commerce giants are also gaining ground among billionaires.

Elon Musk Remains at the Top, but Faces Challenges

Elon Musk remains the richest man on Earth with a fortune of $468 billion. Most of his wealth comes from Tesla, where he keeps a significant stake, approximately 13% of the company.

Additionally, SpaceX, his space services company, contributes a significant part of his fortune. Despite these assets, the situation is not completely obstacle-free. Musk has a pending litigation over the rights to 303 million Tesla shares that could put part of his wealth at risk.

Moreover, the purchase of Twitter for $44 billion in 2022 has become a financial challenge, with the valuation of the social network now reduced to $7.4 billion. Despite these issues, his ability to remain the leader has been thanks to his futuristic vision and his ability to make decisions in his companies, Tesla and SpaceX.

Musk's close relationship with politics has also played a crucial role in his fortune. His support for Donald Trump has strengthened his business image, and investors positively value his closeness to the United States Government as beneficial for his businesses. Even so, this political influence has also caused controversy, but it hasn't significantly affected his position on the list of the richest.

The Waltons, Owners of Walmart, Are Closing in on Musk

Meanwhile, the Waltons, heirs of the Walmart empire, have seen significant growth in their wealth, reaching a figure close to $112 billion per person. Although Walmart doesn't have the visibility of Tesla, its solidity as the largest supermarket chain allows it to generate enormous income. The company has remained competitive, especially against other commerce giants like Amazon, thanks to its stable business model and customer loyalty.

This increase in the Waltons' wealth reflects the resilience of traditional commerce, which still remains an important pillar of the global economy. Their ability to keep at the top, despite the competition from technology companies, shows that mass distribution companies like Walmart continue to be very profitable. The Waltons, with their dominance in this sector, are closing in on Musk's fortune, which could bring a battle for the top spot in the coming years.

Over time, the Waltons could surpass Musk if growth dynamics continue. Meanwhile, Musk must be alert to the advance of these traditional commerce giants. Walmart, although less technologically innovative, continues to show that the stability of traditional businesses should not be underestimated.