Artificial intelligence is creating billionaires at an unprecedented rate, with over 60 new billionaires emerging in the past year alone, thanks to AI startups, chipmakers, and enabler technologies. This phenomenon is transforming the global economy and reshaping the world's wealthiest elite.
The record market demand for AI technologies is driving this wealth creation, with businesses racing to integrate AI into products and companies. The market is estimated to reach over $1 trillion within a decade, and AI firms going public are fetching record valuations, doubling shareholder value overnight. The AI national rivalry has also led to massive government spending and procurement contracts, adding further to company value.
Nvidia's CEO, Jensen Huang, has seen his personal fortune estimated at $159 billion, making him the eighth richest person in the world. Other notable AI billionaires include Sam Altman, OpenAI's CEO, with a net worth ranging between $1.8-2 billion, primarily from investments outside of OpenAI. Mira Murati, former OpenAI CTO, raised $2 billion for her new venture, Thinking Machines Lab, valued at $12 billion.
The AI boom is expected to continue creating new billionaires, with the number of AI unicorns (private companies valued at $1 billion or more) reaching 498, collectively worth $2.7 trillion. However, concerns arise about economic inequality, as the benefits of AI may disproportionately favor a select group of founders, investors, and executives. As the AI industry continues to grow and evolve, it's likely that we'll see even more billionaires emerge in the coming years.
