Much-loved American singer Taylor Swift has climbed the ranks and was recently added to the world's richest individuals, forming part Forbes World’s Billionaires List.

The pop star’s wealth is based on earnings from her blockbuster tour, the value of her music catalogue and her real estate portfolio. The star is the first musician to hit 10 figures based on her songs and performances.

Taylor Swift, whose wealth was reported at $1.1 billion (€935 million), was joined by ChatGPT CEO and Co-Founder Sam Altman with a $1 billion fortune (€850 million).

The richest man to join the ranks of the world’s richest is Andrea Pignataro. Mr Pignataro is a former Salomon Brothers bond trader and the man behind London-based financial software firm ION Group in 1999.

On the other hand, the richest female newcomers were sisters Sofia Högberg Schörling and Märta Schörling Andreen. The duo are the children of Swedish investing magnate Melker Schörling, who died in late 2023, and together have an estimated $5.6 billion (€4.76 billion) each.

Other notable names have also joined the list. This includes basketball athlete (NBA) Earvin “Magic” Johnson with an estimated net worth of $1.2 billion (€1.02 billion) based on investments in professional sports teams, movie theatres, Starbucks, real estate and healthcare.

Meanwhile, popular French designer Christian Louboutin also joined the list with the same net worth as the latter.

Livia Voigt was named this year’s youngest newcomer and also the world’s youngest billionaire. Both her and her sister Dora Voigt de Assis each inherited a $1.1 billion (€935 million) fortune from their grandfather, the late Werner Ricardo Voigt.

Interestingly, more than half of this year’s Forbes newcomers are self-made and have founded the companies that made them wealthy rather than having inherited wealth. Despite Livia Voigt being crowned as the youngest billionare, the youngest self-made billionaire is Japan’s Shunsaku Sagami the Founder of M&A Research Institute advisory firm “which employs AI to find buyers for companies.”  Mr Sagami is 33 years old and is worth $1.9 billion (€1.615 billion).

At the top of the list of the wealthiest individuals are Bernard Arnault and Family (worth $233 billion), Elon Musk (worth $195 billion), Jeff Bezos ($194 billion), Mark Zuckerberg (worth $177 billion) and Larry Ellison (worth $141 billion).