Elon Musk has claimed the number one position on Forbes' 39th annual World’s Billionaires list, moving ahead of French luxury tycoon Bernard Arnault.
Musk's wealth surged by 75%, reaching $342 billion, primarily due to increased valuations at xAI, SpaceX, along with robust gains in Tesla's stock price over the last year.
Despite a recent market dip, he remains the first person to surpass $300 billion in wealth.
This information was revealed in a statement posted on the website of Forbes on Tuesday.
The most recent Forbes ranking reveals a total of 3,028 billionaires globally, marking the highest number since the compilation started in 1987.
In total, their combined wealth amounts to an unprecedented $16.1 trillion.
US President Donald Trump also saw a sharp rise in wealth, more than doubling his net worth to $5.1 billion.
This growth comes from his Trump Media & Technology Group shares and profits from recent crypto ventures.
“It’s another record-breaking year for the world’s richest people, despite financial uncertainty for many and geopolitical tensions on the rise.
"And from Elon Musk to Howard Lutnick and the other billionaires seizing control of the U.S. government, their power continues to grow," stated Chase Peterson-Withorn, Forbes' Senior Editor for Wealth.
After Musk, the leading five billionaires in the ranking are:
- Mark Zuckerberg takes the second spot with a net worth of $216 billion.
- Jeff Bezos ranks third with $215 billion.
- Larry Ellison at No. 4 with $192 billion.
- Bernard Arnault & family rank No. 5 with a net worth of $178 billion
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