Elon Musk has reclaimed his position as the world's richest individual, surpassing Bernard Arnault on Forbes' 39th Annual Billionaires list, while President Donald Trump has seen his wealth more than double, highlighting significant shifts in the global financial landscape.
Elon Musk has reclaimed the title of the world’s richest individual, according to Forbes' annual billionaires list, despite facing financial challenges and some criticism related to his involvement with the Trump administration.
Meanwhile, President Donald Trump has seen his wealth more than double, as reported by metro.co.uk.
Forbes' 39th Annual World’s Billionaires list, released on Tuesday, features a record 3,028 billionaires, the highest number since the list’s inception in 1987. This year’s list includes a record 15 individuals with wealth surpassing $10 billion, collectively contributing to a combined net worth of $16.1 trillion.
Musk, the CEO of Tesla, SpaceX, and owner of X (formerly Twitter), saw his net worth rise by 75%, reaching approximately $342 billion. He became the first person ever to exceed $300 billion in wealth, overtaking Bernard Arnault, CEO of LVMH Moët Hennessy Louis Vuitton, the world's largest luxury goods company.
Musk’s wealth spike is attributed to the rising valuations of SpaceX and xAI, as well as a consistent increase in Tesla stock. Despite a 36% drop in Tesla stock during the first quarter of this year, Musk’s fortune remains largely unaffected, securing his top position in the 2025 list.
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UN Secretary-General António Guterres on Thursday warned that the humanitarian situation in the Gaza Strip has reached a critical level and called for an immediate and lasting ceasefire. He emphasised that vital infrastructure is on the verge of collapse due to a severe fuel shortage.
The European Commission has put forward a proposal allowing carbon credits purchased from developing countries to be counted towards the EU’s 2040 climate target for the first time. The move, announced on Wednesday, has drawn criticism from campaigners and some scientists.
Russian President Vladimir Putin reiterated Moscow’s readiness to continue peace negotiations with Ukraine during a telephone conversation with US President Donald Trump on Thursday, Kremlin aide Yury Ushakov confirmed.
The Russian Ministry of Defence announced on Thursday that Major General Mikhail Gudkov, praised and appointed to the Navy’s top post by President Vladimir Putin in March, has been killed during combat operations.
The U.S. economy faces a 40% risk of recession in the second half of 2025, JP Morgan analysts said on Wednesday, citing rising tariffs and stagflation concerns.
A magnitude 5.5 earthquake struck off Japan’s Tokara Islands on Wednesday, with no tsunami warning issued but residents advised to remain vigilant.
The United States has rescinded licensing restrictions on ethane exports to China, allowing shipments to resume after a temporary halt and signalling progress in efforts to ease recent trade tensions.
The European Commission is set to propose allowing carbon credits from other countries to count towards the EU’s 2040 climate target, according to a leaked internal document.
China has ramped up efforts to protect communities impacted by flood control measures, introducing stronger compensation policies and direct aid from the central government.
At least seven people remain missing following a massive explosion at a fireworks warehouse in the town of Esparto, Northern California, according to a report by NBC News citing local officials.
A delegation from Azerbaijan, led by MP Qaya Məmmədov, took part in the annual session of the Organisation for Security and Cooperation in Europe Parliamentary Assembly (OSCE PA), held from 28 June to 3 July in Porto, Portugal.
Chinese scientists have unveiled PlantGPT, the first large language model-based artificial intelligence designed specifically for plant functional genomics.
UN Secretary-General António Guterres on Thursday warned that the humanitarian situation in the Gaza Strip has reached a critical level and called for an immediate and lasting ceasefire. He emphasised that vital infrastructure is on the verge of collapse due to a severe fuel shortage.
The US House of Representatives approved a significant tax-cut and spending bill on Thursday, passing it by a narrow margin of 218 to 214. The legislation has now been sent to President Donald Trump for his signature.
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