For a considerable period, Elon Musk held the esteemed position of the world’s wealthiest individual.

However, following various upheavals, particularly concerning Twitter, the entrepreneur’s ranking in the Forbes list has declined, as recently reported on the publication’s official website.

The top spot is now claimed by Bernard Arnault, the head of LVMH, whose empire includes iconic brands like Louis Vuitton and Sephora, totaling 75 luxurious cosmetics brands. Arnault’s current net worth stands at a staggering USD 211 billion.

In 2022, Elon Musk boasted a fortune of $219 billion, but recent figures indicate a decrease to $180 billion.

Notably, the 51-year-old entrepreneur has become increasingly active on social media, often making controversial decisions that may not necessarily endear him to the American public.

Meanwhile, Jeff Bezos has slipped to third place, with his wealth also seeing a significant decline from $171 billion in 2022 to $114 billion.

However, given global economic challenges, this decline is hardly surprising, although it’s doubtful that the billionaire is overly concerned.

Larry Ellison occupies fourth place, with his fortune not only remaining intact but also increasing.

With a net worth of $107 billion, Ellison’s ownership of Oracle, a leading software and server hardware provider, has contributed to his continued financial success.

Warren Buffett follows closely behind Ellison, renowned as the “Oracle of Omaha” and celebrated for his investment prowess.

With a fortune amassed through shrewd investments, the 92-year-old Buffett is regarded as one of the most successful investors in history.