Faith Nyasuguta
As of May 1, 2024, Bernard Arnault, the CEO of LVMH, remained firmly atop the global wealth hierarchy, cementing his status as the world’s wealthiest individual. Forbes’ live billionaires ranking reaffirms Arnault’s sustained dominance, a position he has occupied since February 2024, with Elon Musk, the driving force behind Tesla, trailing closely behind.
In a recent twist, Jeff Bezos, the visionary founder of Amazon, briefly eclipsed Musk in April 2024, claiming the second spot. However, Musk swiftly reclaimed his position following a remarkable 15 percent surge in Tesla’s stock on April 29, 2024, catapulting his net worth by $14.5 billion, according to Forbes.
Musk’s recent ventures into the electric vehicle landscape in China show his unyielding commitment to innovation. Despite trailing Arnault, Musk has made significant strides in narrowing the wealth gap, with Arnault’s fortune presently standing at $209.4 billion, approximately $10 billion ahead of Musk’s.
Nonetheless, Arnault’s LVMH encountered a setback in the past month, as a decline in its stock value led to a $17 billion dip in its fortune. Despite this setback, Arnault’s position as the world’s richest individual remains unchallenged.
Meanwhile, Jeff Bezos slipped to the third position, with a net worth of $193.3 billion, while Mark Zuckerberg’s Meta recorded a net worth of $151.2 billion for the period.
Bill Gates, the trailblazing founder of Microsoft, who held the title of the world’s richest person for nearly three decades, now finds himself in the ninth spot, with a net worth of $128 billion, down from seventh place a month earlier.
On May 1, 2024, Francoise Bettencourt Meyers of France emerged as the world’s wealthiest woman, boasting an estimated net worth of $95.4 billion. Her fortune is rooted in her ownership stake in the cosmetics behemoth L’Oreal, inherited from her late mother. Her grandfather, Eugène Schueller, founded L’Oreal. Forbes ranks her as the world’s 15th richest individual.
1. Bernard Arnault
Net worth: $209.4 billion
Source: LVMH/ luxury goods Age: 75
Residence: Paris
Citizenship: France
2. Elon Musk
Net worth: $199.6 billion
Source: Tesla, SpaceX, X (Twitter) Age: 52
Residence: Austin, Texas
Citizenship: U.S.
3. Jeff Bezos
Net worth: $193.3 billion
Source: Amazon Age: 60
Residence: Miami, Florida
Citizenship: U.S
4. Mark Zuckerberg
Net worth: $151.2 billion
Source: Meta (Facebook)
Age: 39 Residence: Palo Alto, California
5. Larry Ellison
Net worth: $142.8 billion
Source: Oracle
Age: 79 Residence: Woodside, California
Citizenship: U.S.
6. Larry Page
Net worth: $135.4 billion
Source: Google Age: 51
Residence: Palo Alto, California
Citizenship: U.S
7. Warren Buffett
Net worth: $131 billion
Source: Berkshire Hathaway
Age: 93 Residence: Omaha, Nebraska
Citizenship: U.S.
8. Sergey Brin
Net worth: $129.9 billion
Source: Google
Age: 50
Residence: Los Altos, California
Citizenship: U.S
9. Bill Gates
Net worth: $127 billion
Source: Microsoft, investments
Age: 68 Residence: Medina, Washington
Citizenship: U.S.
10. Steve Ballmer
Net worth: $117.1 billion
Source: Microsoft, Clippers, investments
Age: 68
Residence: Hunts Point, Washington
Citizenship: U.S
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