The world of billionaires is expanding rapidly, with Forbes reporting a record 2,781 individuals worldwide joining the three-comma club, collectively worth a staggering $14.2 trillion. This surge in wealth has seen 265 new billionaires emerge over the past year, marking a significant increase from the 150 newcomers in 2023.

Among the fresh faces in the billionaire ranks are notable figures from various industries, including fashion, sports, and entertainment. Collectively, these newcomers boast a combined wealth of $510 billion, with an average net worth of $1.9 billion. Hailing from 32 different countries, they represent the global nature of billionaire wealth.

Unsurprisingly, the United States leads the way in producing new billionaires, with 67 Americans joining the elite ranks. Topping the list is Todd Graves, the founder of the fast-food chain Raising Cane’s, whose net worth is estimated at a staggering $9.1 billion. China also saw a significant rise in new billionaires, nearly doubling its count from the previous year to 31 individuals, despite facing challenges in the region. Notable among the Chinese newcomers are Maggie Gu, Molly Miao, and Ren Xiaoqing, co-founders of the Gen Z fast-fashion giant Shein, each with an estimated net worth of $4.2 billion.

India also made its mark on the billionaire landscape, welcoming 25 new members to the club. Among them is Renuka Jagtiani, with a net worth of $4.8 billion, serving as the chief executive of the e-commerce conglomerate Landmark Group, originally founded by her late husband Micky Jagtiani, who passed away in May 2023.

One standout newcomer to the billionaire list is Italy’s Andrea Pignataro, a former Salomon Brothers bond trader who established the London-based financial software firm ION Group in 1999. Through strategic acquisitions, Pignataro transformed ION Group into a major competitor of industry giants like Bloomberg LP and FactSet. With a net worth estimated at $27.5 billion, Pignataro’s wealth is derived from ION Group and other assets, including the 1,280-acre Canouan Estate, a luxurious collection of villas and hotels located in the Caribbean paradise of St. Vincent and the Grenadines.