Elon Musk has claimed the top spot on Forbes’ 39th annual World’s Billionaires list, surpassing French luxury mogul Bernard Arnault.
Musk’s wealth has skyrocketed by 75%, reaching an astounding $342 billion, largely driven by the rising valuations of his companies, including Tesla, SpaceX, and xAI.
Forbes revealed the news on Tuesday, highlighting that Musk remains the first person ever to surpass $300 billion in wealth. Despite recent market fluctuations, his financial power continues to grow, further cementing his status as the world’s richest individual.
“It’s another record-breaking year for the world’s richest people, despite financial uncertainty for many and geopolitical tensions on the rise,” said Chase Peterson-Withorn, Forbes’ Senior Editor for Wealth.
Musk’s ascent to the top came at the expense of Bernard Arnault and his family, who now rank No. 5 with a net worth of $178 billion.
Other notable figures in the top five include Mark Zuckerberg at No. 2 with $216 billion, Jeff Bezos at No. 3 with $215 billion, and Larry Ellison at No. 4 with $192 billion.
Forbes also noted a record-breaking 3,028 billionaires worldwide, with a combined net worth of $16.1 trillion—marking the highest number since the list’s inception in 1987.
