They took away Elon Musk’s throne: this is now the richest man in the world – Economy

Elon Musk, Tech Tycoon And the visionary behind companies like Tesla and SpaceX has been displaced from first place as the world’s richest man. This news marks a significant change in the ranking of the richest people on the planet.

As per latest financial reportsThe American businessman has been overtaken by another business titan. While Musk has been a prominent figure on the billionaires list for years, his position has recently been affected by various factors, including market movements and the performance of his companies.

This change in rankings reflects the volatile nature of the world of money and business. Despite this setback, Musk is leading several innovative companies and remains an influential figure in the technology and space industries.

Jeff Bezos beats Elon Musk

Jeff Bezos has once again won the title of the world’s richest person.According to the US Billionaires Index, left Elon Musk behind bloomberg Published this Monday.

Amazon founder has a net worth of $200 billion, while Musk’s is $198 billion. According to the index, Musk suffered a loss of about $31 billion last year, while Bezos earned $23 billion.

In May 2023, Elon Musk became the richest person in the worldLeaving behind Bernard Arnault, CEO of LVMH (LVMHF), a conglomerate that includes brands such as louis vuitton, dior And Celine, For months, Musk, Arnault and Bezos competed for the top spot on the centibillionaire list.

His rise to the top in the list of billionaires This was largely due to the impressive rise in the value of shares of leading electric vehicle company Tesla, of which he is the CEO and founder, as well as his other successful companies such as SpaceX. However, it may temporarily lose the title in 2024 due to market fluctuations and share price changes.

Earlier this year, a Delaware state court judge invalidated Elon Musk’s 2018 pay package, valued at more than $50 billion, which contributed to his emergence as one of the richest people in the world. Besides, Tesla shares have seen a decline of about 24% so far this year.

clear, The title of the richest person in the world changes from time to time, which reflects the performance of the markets. Both Musk and Arnault have large net worths. Since 2020, the combined wealth of the world’s five richest people, adjusted for inflation, has increased by 114% to a total of $869 billion, according to Oxfam’s annual inequality report.