The richest people in the world are now worth a combined $6.4 trillion, according to Forbes. That record breaking number is up from $5.4 trillion last year.
The 2014 Forbes' Billionaires list is composed of 1,645 billionaires, up 219 from 2013 -also the highest ever.
Forbes says the massive wealth creation is attributed to the strong bull market. The S&P 500 was up nearly 30 percent for 2013.
In a CNBC interview, Forbes Chairman and Editor-in-Chief Steve Forbes said "despite everything Washington is doing, the U.S. is increasing billionaires."
Two-thirds of the billionaires on the list are self-made, said Forbes.
Microsoft founder and philanthropist Bill Gates pulls in the top spot with a net worth of $76 billion.
(The full interview with Steve Forbes will air on CNBC's "The Kudlow Report" on Monday, March 3rd at 7 p.m. EST)
-By CNBC Producer Bree Kelly. Follow her on Twitter @Bree_Kelly.