Elon Musk remains the richest person in the world, with a net worth of $924.8 billion (£690.8 billion), according to the Forbes Real-Time Billionaires list. The first woman on the list is Alice Walton, daughter of Walmart founder Sam Walton, who ranks 16th with a net worth of $118.5 billion (£88.52 billion). Net worth is calculated by subtracting a person’s debts from their total assets. A positive net worth means their assets are greater than their liabilities, while a negative net worth indicates the opposite. In the UK, the average net worth for individuals aged 25 to 34 is £115,000, according to a study by financial services firm Charles Stanley. This figure is more than double the average net worth of those in the same age group from previous years. For people aged 35 to 44, the average net worth rises to £295,000, and it continues to grow with age, reaching £485,000 for those between 45 and 54. According to a 2026 study by Forbes, the average gross weekly income for workers aged 40 to 49 is £1,145, with those in managerial positions earning even more. This is significantly higher than the £692 earned by those aged 22 to 29. By the time individuals reach 55 to 64, their average net worth peaks at £625,000. However, for most people, this is the highest net worth they will achieve, as the average Brit pays off their mortgage between the ages of 63 and 65. A study by PensionBee found that the average pension wealth for people aged 55 to 59 is £124,024. Once individuals reach their 60s, their net worth tends to decline as they begin to claim their pensions. Between the ages of 65 and 74, the average net worth drops slightly to £590,000. From the age of 75 onward, this figure continues to fall, reaching £470,000.