It's called the "three-comma club," and some well-known Americans have recently become members, along with 263 others.
The Forbes list of New Billionaires 2024 was published Tuesday. The elite club consists of a record number of 2,781 billionaires around the world this year, and most of them are from the United States.
Here's a look at five of the most notable from the list:
5. Shunsaku Sagami
At just 33, the youngest self-made billionaire on the list is the Japanese founder of Tokyo-based advisory firm M&A Research Institute, which employs artificial intelligence to find buyers for companies. Sagami is worth an estimated $1.9 billion. The youngest overall is 19-year-old Livia Voigt, who inherited $1.1 billion via a stake in the Brazilian turbine manufacturer WEG, which her grandfather co-founded.
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4. Maggie Gu, Molly Miao and Ren Xiaoqing
These three are the Chinese co-founders of Shein, the Gen Z fast-fashion retailer. Each is worth an estimated $4.2 billion, according to Forbes. Their company in 2022 enjoyed the largest share of the American fast-fashion market and was valued at $100 billion, according to Wired.
3. Todd Graves
The founder of fast-food giant Raising Cane's, Graves is worth an estimated $9.1 billion.
"Todd personifies the entrepreneurial spirit — the promise that with dedication, drive, hard work and a great concept, dreams can be achieved," his biography on the chicken finger company's website says. "Only 24 years old when he began his journey, Todd and his Crew have grown Raising Cane’s from a single campus Restaurant to one of the fastest-growing large restaurant brands in the U.S."
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2. Earvin "Magic" Johnson
NBA Hall of Famer Earvin "Magic" Johnson has an estimated net worth of $1.2 billion. The Los Angeles Lakers icon has dominated off the court by investing in professional sports teams, including the Los Angeles Dodgers, the WNBA's Los Angeles Sparks and the NFL's Washington Commanders; a chain of movie theaters bearing his name; Starbucks franchises; and more.
1. Taylor Swift
The hottest pop star on the planet became the world's most famous billionaire. The 34-year-old Swift became the first musician to become a billionaire as a direct result of songs and performances. Swift is worth an estimated $1.1 billion.
Swift's Eras Tour, which began in March 2023 and will continue through the end of this year, is the first to break $1 billion in revenue, according to Forbes.
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Together, all the billionaires on the list are worth a record $14.2 trillion.
