How the newest and youngest billionaires on Forbes’ 2024 ranking found their success

This week has been a fun one at Forbes, as our editorial team knocked it out of the park with a treasure trove of stories centered around the 2024 World’s Billionaires List. From revealing who earned their billions in tech and artificial intelligence, to highlighting? the world’s most financially successful women, to a breakdown of riches by country, our reporters have provided a variety of ways to dive into the stories behind the world’s 2,781 billionaires.

And while you don’t have to be a billionaire to be successful, there are lessons to be learned from how these individuals became members of the three-comma club.

In his story about the newest billionaires to join the list, Forbes staff writer Segun Olakoyenikan writes that there are 265 newcomers this year, up from 150 in 2023. And once again, the U.S. leads the way in fresh-faced billionaires, with 67 Americans joining the club. The wealthiest among them is Todd Graves, the founder of fast-food chain Raising Cane’s, whose net worth stands at an estimated $9.1 billion.

Meanwhile, China has 31 new faces on the list, with the richest being Maggie Gu, Molly Miao and Ren Xiaoqing, the cofounders of Gen Z fashion giant Shein, each worth an estimated $4.2 billion each.

The most famous newcomer is—you guessed it—Taylor Swift, whose Eras Tour is the first to surpass $1 billion in revenue. The 34-year-old has amassed a $1.1 billion fortune, and is the first musician to hit ten-figure status solely based on her songs and performances.

While many of the new billionaires inherited their wealth, more than half are self-made. The youngest of them is Japan’s Shunsaku Sagami, the founder of Tokyo-based advisory firm M&A Research Institute, which utilizes AI to find buyers for companies. The 33-year-old is worth an estimated $1.9 billion.

Make sure to give the full story a read for information on which industries minted the most new billionaires this year, and don’t skip the other great articles about this year’s Billionaires List.

Read more:?

• 2024 World’s Billionaires List?
• New billionaires 2024: Taylor Swift, Magic Johnson and 263 others join the ranks this year
• The world’s youngest billionaires
• The richest billionaire in each country
• The richest woman in the world 2024

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Financial planning: How much do you need to earn to afford a home in 2024?

Homeownership is getting more expensive. The dream of buying a home likely feels unrealistic for many workers across the country, as a recent report from Zillow found that the average income to afford a home has risen to $106,000.

That’s an 80% increase from $59,000 in 2020, according to Anushna Prakash, Zillow’s economic research data scientist who conducted the study.

“The monthly mortgage payment on a typical U.S. home has nearly doubled since January 2020, up 96.4% to $2,188 (assuming a 10% down payment),” Prakash says.

But there are places where the income needed to buy a home is lower, and Zillow lists both the most affordable and unaffordable cities in the U.S. Give the full story from contributor Terri Williams a read to find out where you might want to consider moving.

Read the full story: Buyers need a six-figure salary to comfortably afford a home, Zillow finds

Driving Success: The 5 richest billionaires in the world 2024

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• 3 Career Benefits Of ChatGPT Use, Based On Age And Education Trends
• Myths You Can Safely Ignore During Your Job Search, According To A Recruiter

Calling all success seekers:?

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Thank you for reading! We'll be back next week with another edition of Forbes Edge. If you missed Wednesday’s newsletter, check it out here for a look at why teams are still struggling with pointless meetings.

This edition of Forbes Edge was curated by associate editor Chris Dobstaff.