According to Forbes Real Time Billionaires, billionaire Elon Musk has eclipsed billionaires Jeff Bezos and Bernard Arnault to become the richest person on the planet.
Elon Musk’s net worth has increased to $210.7 billion according to the new rankings, while Bernard Arnault of LVMH is in second place with $201 billion and Jeff Bezos, the CEO of Amazon, is in third place with $197.4 billion.
Mark Zuckerberg, whose net worth was $163.9 billion, was ranked fourth on the list. Larry Ellison, whose net worth is $146.2 billion, came in fifth.
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.
