Tesla and SpaceX CEO Elon Musk has ascended to the coveted position of the world's richest person, according to the latest Forbes Real-Time Billionaires List (as of May 31, 2024). His net worth has skyrocketed to a staggering $210.7 billion, eclipsing previous leaders Bernard Arnault and Jeff Bezos.
Bernard Arnault, chairman and CEO of luxury goods giant LVMH Moët Hennessy – Louis Vuitton, now holds the second-place position with a net worth of $201 billion. Amazon founder Jeff Bezos follows closely behind at number three with a net worth of $197.4 billion.
While the exact reasons behind Elon Musk's wealth surge aren't explicitly stated, it likely coincides with his high-profile acquisition of social media platform X (formerly known as Twitter) for a hefty $44 billion in October 2022. This move, coupled with the continued success of Tesla and SpaceX, has undoubtedly contributed to his significant net worth increase.
The Forbes Real-Time Billionaires List is a dynamic snapshot of the world's wealthiest individuals. Updated constantly, it reflects fluctuations in net worth based on stock prices and other factors. This ensures the list remains accurate and reflects the ever-changing landscape of global wealth.
Following the top three, the list features a powerhouse of other influential figures:
Mark Zuckerberg (Meta Platforms) - $163.9 billion
Larry Ellison (Oracle) - $146.2 billion
Larry Page (Google) - $142.6 billion
Sergey Brin (Google) - $136.6 billion
Warren Buffett (Berkshire Hathaway) - $134.9 billion
Bill Gates (Microsoft) - $128.6 billion
Steve Ballmer (Microsoft) - $123.1 billion
These individuals represent a diverse range of industries and continue to shape the global economic landscape.
While celebrating his newfound position as the world's richest person, Musk also faces a legal challenge. A Tesla shareholder has filed a lawsuit accusing him of insider trading. The lawsuit alleges that Musk sold over $7.5 billion worth of Tesla shares in late 2022, potentially possessing insider knowledge about disappointing production and delivery numbers that weren't yet public.
The lawsuit claims that this knowledge allowed Musk to benefit unfairly by selling the shares before the news impacted the stock price. The lawsuit seeks the return of profits allegedly earned through these trades. It remains to be seen how this legal battle will unfold.
Elon Musk's ascent to the top of the Forbes Billionaires list underscores his remarkable success and influence in the tech and automotive industries. However, this achievement comes amidst legal challenges, highlighting the complexities and controversies often accompanying such monumental success. As Musk continues to innovate and expand his ventures, the world watches closely, captivated by his journey and its impact on the global economic landscape.