Forbes’ 2023 World’s Billionaires List: Bezos and Musk Slump

Bezos and Musk drop one spot in Forbes' World's Richest list, with their net worths decreasing by tens of billions of dollars due to market fluctuations.

Forbes released its annual World’s Billionaires List on Tuesday, with Amazon’s Jeff Bezos and Tesla’s Elon Musk slipping in rankings. Bezos fell to third place, while Musk slid to second, with LVMH CEO Bernard Arnault regaining the top spot. The world now has 2,640 billionaires, a nearly 9% YoY decline. The top five wealthiest people are Arnault, Musk, Bezos, Mark Zuckerberg, and Larry Ellison.

Forbes attributed Musk’s slide to his Twitter activity and Tesla’s stock falling, while Amazon’s stock drop caused Bezos’ fall.