Elon Musk, 52, derives his wealth mainly from his stake in Tesla
Billionaire Elon Musk surpassed Bernard Arnault and Jeff Bezos to become the richest person in the world, according to the Forbes Real Time Billionaires list.
With the new ranking, Elon Musk's net worth has risen to $210.7 billion, while LVMH's
Bernard Arnault is in second place with $201 billion, and Amazon CEO Jeff Bezos is in third place with $197.4 billion.
Mark Zuckerberg was fourth on the list with a net worth of $163.9 billion. Larry Ellison secured the fifth spot with a net worth of $146.2 billion.
Elon Musk, 52, derives his wealth primarily from his stake in Tesla, as well as his interests in Space Exploration Technologies Corp. and social media platform 'X'.
He made headlines in October 2022 after purchasing social media company Twitter, which he later renamed as .
Previously, a report stated 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 stated that if each of the five richest men spent $1 million a day, it would take an average of 476 years for their combined wealth to be depleted.
The analysis also found that the world could see its first trillionaire within a decade.