Elon Musk Surpasses Bernard Arnault, Jeff Bezos To Become World's Richest

Billionaire Elon Musk surpassed Bernard Arnault and Jeff Bezos to become the richest person in the world, as per the Forbes Real Time Billionaires list.

With the new rankings, Elon Musk's net worth has soared to $210.7 billion, while LVMH's
Bernard Arnault holds second place with $201 billion, and Amazon CEO Jeff Bezos is in third with $197.4 billion.

Mark Zuckerberg stood fourth in the list with a net worth of $163.9 billion. Larry Ellison secured the fifth spot with a wealth of $146.2 billion.

Elon Musk, 52, derives his wealth primarily from his stake in Tesla, as well as his holdings in Space Exploration Technologies Corp. and social media platform 'X'.

He grabbed the headlines in October 2022 after he bought social media company Twitter, which he later renamed X. The 52-year-old co-founded Tesla in 2003. However, it was only during 2020 and 2021 that the company witnessed significant growth in market capitalisation.

A report had earlier said that Elon Musk, Bernard Arnault, Jeff Bezos, Larry Ellison and Mark Zuckerberg grew their wealth at an alarming rate of $14 million per hour since 2020.

The Oxfam report had said that if each of the five wealthiest men were to spend a million US dollars daily, they would take 476 years (on an average) to exhaust their combined wealth.

The analysis also revealed that the world could see its first trillionaire within the next decade.