French magnate Bernard Arnault has dethroned Elon Musk to claim the top spot on the Forbes list of the richest people in the world. Arnault, the head of luxury conglomerate LVMH, saw his fortune grow by 10% in the last year, reaching an estimated net worth of $233 billion. His portfolio includes renowned brands such as Louis Vuitton, Christian Dior, and Sephora, solidifying his position as the wealthiest individual globally.
On the other hand, Elon Musk, known for his groundbreaking companies like Tesla and SpaceX, has dropped to the second spot on the list. This change came after a court ruling that voided his nearly $51 billion salary, resulting in a decrease in his net worth to $195 billion. Despite this setback, Musk continues to innovate with ventures like the recently acquired social network X (formerly Twitter).
Jeff Bezos, the founder of Amazon and Blue Origin, holds the third position on the Forbes list with a fortune estimated at $194 billion. Bezos, who also owns The Washington Post, has seen success with Amazon, where he previously served as CEO before stepping down in 2021. His innovative leadership has earned him recognition on Forbes’ list of “Innovative Leaders” in 2019.
The annual ranking by Forbes highlights the growing wealth of billionaires worldwide, with a record number of 2,781 individuals surpassing the $1 billion mark. The United States leads the way with 813 billionaires, followed by China with 473 and India with 200 wealthy individuals. The collective wealth of billionaires has seen a substantial increase, reflecting the global expansion of fortunes and economic influence.