For the first time since January, Elon Musk is the richest person in the world, thanks to his new AI company. Over the Memorial Day weekend, his startup xAI raised $6 billion from private investors, who valued the company at $24 billion. That makes Musk’s 60% stake in xAI worth $14.4 billion, Forbes reported, and pushed his fortune up to just over $210 billion as of June 1.
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LifestyleTranscript
00:00Today on Forbes, the top 10 richest people in the world, June 2024.
00:07For the first time since January, Elon Musk is the richest person in the world, thanks
00:13to his new AI company.
00:15Over the Memorial Day weekend, his startup X.A.I. raised $6 billion from private investors
00:21who valued the company at $24 billion.
00:25That makes Musk's 60% stake in X.A.I. worth $14.4 billion, and pushed his fortune up to
00:32just over $210 billion as of June 1st.
00:37Right behind Musk, at number two richest in the world, sits French luxury goods tycoon
00:42Bernard Arnault, who had been the world's wealthiest person from February through late
00:47May.
00:48While Musk got more than $10 billion richer in the past month, shares of Arnault's LVMH
00:53group fell 5% amid a weaker environment for luxury goods, and lowered the LVMH CEO's fortune
00:59by $7.8 billion.
01:02Arnault, now worth $201.6 billion, is the only one of the top 10 richest whose fortune
01:09contracted in the past month.
01:11The biggest gainer among the top 10 in May was Mark Zuckerberg, whose fortune rose by
01:16$12.6 billion to an estimated $163.8 billion as a result of an 8.5% increase in metastock.
01:26Zuckerberg now ranks number four in the world.
01:29In between Arnault and Zuckerberg, at number three is e-commerce giant Amazon founder and
01:34chairman Jeff Bezos.
01:37His fortune rose by $1.4 billion during May 2024 as the result of an uptick in Amazon
01:42stock.
01:44At number five is Oracle co-founder and chairman Larry Ellison with a net worth of $146.2 billion.
01:52During February 2024, Ellison was overtaken by Mark Zuckerberg and fell from number four
01:57richest to number five.
02:00In May, Ellison's net worth rose by $3.4 billion.
02:05At number six is Google co-founder Larry Page with a net worth of $142.9 billion.
02:12Page's fortune rose by $7.5 billion in May after jumping $9 billion in April 2024 as
02:19Google parent Alphabet shares advanced.
02:23Page is a board member of Alphabet and continues to be a controlling shareholder.
02:27He moved into the top 10 richest in the world following a notable 15% jump in the share
02:31price of Alphabet in May 2023.
02:35At number seven is Warren Buffett with a net worth of $137 billion.
02:40In May 2024, his fortune rose by $6 billion due to an uptick in Berkshire Hathaway shares.
02:47Buffett has famously said he would donate 99% of his fortune.
02:51So far, he's given at least $51.5 billion in Berkshire Hathaway stock to the Gates Foundation
02:57and foundations run by his children and one started by his late first wife.
03:02That makes him the most generous billionaire in the US and on the planet.
03:06At number eight is Google's other co-founder Sergey Brin with a net worth of $136.9 billion.
03:14Like Page, he currently serves as a board member of Google's parent company Alphabet
03:18and is a controlling shareholder.
03:20Brin's fortune increased by $7 billion in May 2024.
03:24Brin came out of semi-retirement last year to submit changes to Google's Gemini AI chatbot
03:30and was listed as a quote core contributor when the model was released in December.
03:35Bill Gates is number nine on June's top 10 richest people in the world list.
03:39Gates, who reigned as the world's richest person for most of three decades starting
03:43in 1995, is about as rich as he's ever been, worth an estimated $129.4 billion.
03:51But as he did last month, Gates ranks the world's ninth richest.
03:55Prior to May, he hadn't been that low in the ranks of the world's wealthiest since the early 1990s.
04:01It's not that Microsoft and Gates' other investments aren't doing great.
04:05They're just not keeping up with stocks like Zuckerberg's Meta or Larry Page and Sergey
04:08Brin's Alphabet.
04:10Two other big factors have affected Gates' fortune in recent years, his nearly $59 billion
04:15in charitable donations to the Bill and Melinda Gates Foundation and a costly 2021 divorce.
04:22Rounding out the top 10 is former Microsoft CEO Steve Ballmer with a net worth of $123.2 billion.
04:30Ballmer's fortune rose by an estimated $6 billion in the past month amid an increase
04:34in the price of Microsoft stock.
04:36Fun fact, Ballmer joined Microsoft as employee number 30 in 1980 after dropping out of the
04:42MBA program at Stanford University.
04:46Together the world's top 10 richest are worth a combined nearly $1.59 trillion, about $50
04:53billion more than a month ago.
04:57For full coverage, check out the Forbes Wealth Team's piece on Forbes.com.
05:02This is Kieran Meadows from Forbes.
05:05Thanks for tuning in.