Billionaire Elon Musk has now surpassed Bernard Arnault and Jeff Bezos to become the richest person in the world, according to the Forbes Real Time Billionaires list.
Musk’s net worth has surged to $210.7 billion, placing him ahead of LVMH’s Bernard Arnault, who holds the second spot with $201 billion, and Amazon’s Jeff Bezos, who is in third with $197.4 billion.
The list also features Mark Zuckerberg in fourth place with a net worth of $163.9 billion, and Larry Ellison rounding out the top five with $146.2 billion.
At 52, Musk’s immense wealth primarily stems from his significant stake in Tesla, along with his holdings in Space Exploration Technologies Corp. (SpaceX) and the social media platform X.
READ ALSO:
Nationwide Strike by NLC: National Grid Down, Disruptions Hit Businesses, Airports and Hospitals
Musk made headlines in October 2022 when he acquired the social media company Twitter, which he subsequently rebranded as X. He co-founded Tesla in 2003, but it was not until 2020 and 2021 that the company saw a substantial increase in market capitalization, significantly boosting his wealth.
A previous report highlighted the astonishing rate at which Musk, Arnault, Bezos, Ellison, and Zuckerberg have accumulated wealth, noting that these five individuals collectively increased their fortunes at an alarming rate of $14 million per hour since 2020.
The Oxfam report emphasized the sheer scale of their wealth by illustrating that if each of these billionaires spent a million dollars every day, it would take an average of 476 years for them to deplete their combined fortunes.
Moreover, the analysis predicted that the world could witness its first trillionaire within the next decade, underscoring the vast economic disparities and the rapid accumulation of wealth among the world’s richest individuals.