2023 Forbes’ billionaire list as Elon Musk loses top spot
Elon Musk, the CEO of Tesla and Twitter, is no longer ranked as the richest person in the world according to Forbes' annual list of billionaires
Forbes’ billionaire list.
Elon Musk, the CEO of Tesla and Twitter, is no longer ranked as the richest person in the world according to Forbes’ annual list of billionaires.
Musk was the second person in history to have a net worth of over $200 billion. His wealth reached a peak of $340 billion in November 2021 before falling to an estimated $137 billion, mostly as a result of the 65% collapse in Tesla stock prices in 2022.
Due to the decrease in Tesla stock prices and Musk’s sale of considerable amounts of stock to pay for his $44 billion purchase of Twitter, SpaceX has surpassed the billionaire’s approximately $44 billion investment in Tesla. SpaceX is now Musk’s largest asset.
Musk has been under fire for how he’s run Twitter, where he’s let banned accounts—like those of neo-Nazis—return after being suspended and sacked hundreds of staff members and journalists.
Additionally, he has come under fire for firing janitors at the company’s San Francisco offices, which led to some employees bringing their own toilet paper, and for handling the spread of Covid-19 misinformation on the site.
Despite these controversies, Musk has brushed off concerns about the decline of his companies and instead blamed the Federal Reserve for raising interest rates. “We don’t control the Federal Reserve.
That is the real problem here,” he tweeted last month. “Tesla is executing better than ever!”
However, Tesla has recently offered American buyers a $7,500 discount on some of its models and is reportedly reducing production at its Shanghai facility.
European fashion mogul Bernard Arnault has now surpassed Musk as the world’s wealthiest person.
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Forbes’ billionaire list, 2023
- Bernard Arnault (France) – $181.6 billion from LVMH
- Elon Musk (U.S.) – $146.5 billion from Tesla and SpaceX
- Guatam Adani (India) – $126.1 billion from infrastructure and commodities
- Warren Buffett (U.S.) – $107.6 billion from Berkshire Hathaway
- Jeff Bezos (U.S.) – $107.3 billion from Amazon
- Bill Gates (U.S.) – $103.3 billion from Microsoft
- Larry Ellison (U.S.) – $102.4 billion from Oracle
- Mukesh Ambani (India) – $90.6 billion from diversified sources
- Carlos Slim Helu (Mexico) – $81.2 billion from the telecom industry
- Steve Ballmer (U.S) – $78.5 billion from Microsoft
Forbes’ Real-Time Billionaires rankings track the daily ups and downs of the world’s richest people.
The wealth-tracking platform provides ongoing updates on the net worth and ranking of each individual confirmed by Forbes to be a billionaire.
The value of individuals’ public holdings are updated every 5 minutes when respective stock markets are open (there will be a 15-minute delay for stock prices).
Individuals whose fortunes are significantly tied to private companies will have their net worths updated once a day.
In cases where an individual owns a stake in a private company that accounts for 20% or more of his or her net worth, the value of the company will be adjusted according to an industry- or region-specific market index provided by our partners at FactSet Research Systems when available.
A rotating cast of the five biggest winners and losers throughout the day is featured at the top of the page, followed by the complete list of billionaires ranked in order of net worth.
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