Forbes reveals who topped list of world’s richest

Elon Musk overtakes Jeff Bezos, who has headed the list for the last four years

The CEO of Tesla and SpaceX, Elon Musk, has become the world’s richest person, according to Forbes magazine’s latest billionaires list, published on Tuesday.

Musk is atop the World’s Billionaires list for the first time ever. As of March 11, the businessman was worth an estimated $219 billion, after his fortune soared by $68 billion over the past year amid a surge of 33% in the share price of his electric vehicle maker Tesla.

Musk’s net worth is $48 billion more than the fortune of Jeff Bezos, who fell to the second spot for the first time in four years due to a drop of 3% in the stock of his retail giant Amazon. Moreover, the billionaire had reportedly increased charitable giving, which wiped $6 billion from his net worth.

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French luxury goods tycoon Bernard Arnault landed in the third spot of the ranking, with an estimated fortune of $158 billion. The LVMH chief reportedly added $8 billion to his fortune over the past year.

According to Forbes’ calculations, the world’s billionaires are worth an estimated $12.7 trillion, which is $400 billion less than in 2021.

The entire list includes 2,668 people, with 735 of them from the US and 607 from China. The number of Russian billionaires on the list is 83.

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