Elon Musk, the famous entrepreneur and CEO of Tesla, Space X, and Twitter, recently lost his title as the richest person in the world.
After holding the title for three years, Musk's net worth strongly declined by $17.6 billion, allowing Amazon founder Jeff Bezos to reclaim the top spot on Bloomberg's Billionaires Index.
Elon Musk is no longer the richest man in the world.
Bloomberg's Billionaires Index is the list that provides periodic updates on the richest individuals globally.
From 2021, Elon Musk maintained his position as the world's richest person. However, Jeff Bezos, the CEO and Executive Chairman of Amazon, has now taken over Musk in the rankings.
In January, a judge issued a ruling that Elon Musk must give back a massive amount of $55 billion which is the largest payout ever in the history of companies.
The judge made this decision because there were accusations that Musk had tried to force the directors at Tesla to do what he wanted.
This ruling has a major impact on Musk's wealth and has also led to him losing the title of the richest person in the world.
Jeff Bezos has officially surpassed Elon Musk and has reclaimed the title of the richest person in the world.
Despite Bezos also facing a decline in his business, it was not as significant as Musk's, making Bezos reclaim the top spot from Tesla's CEO.
According to the latest update, Bezos now possesses wealth worth $200 billion, while Musk's net worth is $198 billion.
This change in rankings can come from many factors, including the rise in Amazon's stock price by approximately 89% over the past year and Bezos' ownership of around 9% of the company's shares.
Additionally, Bezos has recently sold off shares worth around $4 billion and has shifted his focus toward his Blue Origin space projects.
The fluctuations on the list of the world's richest people have created a dramatic atmosphere and sparked discussions on social networks.
Here are the top ten of the world's richest men:
3) Bernard Arnault
Apart from Jeff Bezos and Elon Musk, the top ten richest individuals in the world also include French billionaire Bernard Arnault, the founder and CEO of LVMH, who holds a net worth of $197 billion.
He was born in Roubaix, France on March 5, 1949, and began his career as an engineer at Ferret-Savinel construction company.
Over the years, he climbed the corporate ladder and held many leadership positions before assuming the role of Chairman in 1978.
At the age of 75, Arnault remained with the company until 1984 when he spearheaded the reorganization of the Financière Agache holding company.
He became the principal shareholder of LVMH Moët Hennessy – Louis Vuitton in 1989, where he has since served as Chairman and CEO.
4) Mark Zuckerberg
Following them, we have Mark Zuckerberg, the founder of Meta, with a net worth of $179 billion.
Mark Zuckerberg is the founder, chairman, and CEO of Meta (formerly Facebook). He was born in New York and studied computer science at Harvard University.
In 2004, he founded Facebook and later established the Chan Zuckerberg Initiative with his wife to address social issues in 2015.
5) Bill Gates
In the fifth position is Microsoft co-founder Bill Gates, who holds a fortune of $150 billion.
Bill Gates, along with Paul Allen, co-founded Microsoft Corporation in 1975.
The company became a global leader in software and services. After leaving Microsoft's board in 2020, Gates focused on the Bill & Melinda Gates Foundation, which they co-chaired until their divorce in 2021.
Gates transferred billions of dollars in shares as part of the settlement and has made significant donations totaling over $59 billion to the foundation.
6) Steve Ballmer
Taking the sixth spot is Steve Ballmer, with a wealth of $143 billion.
7) Warren Buffett
Not far behind is famous investor Warren Buffett, whose net worth stands at $133 billion.
8) Larry Ellison
Larry Ellison, the CEO of Oracle, ranks next with a fortune of $129.
9) Larry Page
Larry Page, one of the co-founders of Google, follows closely with a valuation of $122 billion.
10) Sergey Brin
Finally is Sergey Brin, another co-founder of Google, with a net worth of $116 billion.
