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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Kremlin Spokesperson Dmitry Peskov has dismissed media reports that CIA Director John Ratcliffe visited Moscow earlier this week to warn Russia against attacking NATO, dismissing them as "scare stories," which had nothing to do with reality.
Iranian President Masoud Pezeshkian has called for greater economic cooperation among Muslim countries, saying their combined economic weight remains disproportionately small compared with their population, strategic location and resources.
Iran is setting conditions for reopening the Strait of Hormuz, including an end to the war, the lifting of the U.S. blockade and sanctions. At the same time, Washington is stepping up economic pressure on Tehran through what the White House calls “Operation Economic Outcast.”
Mail sorting centres used by Nova Poshta, Ukraine's largest private postal company, were destroyed in Russian strikes overnight, the firm said. Elsewhere, four people were injured after drones struck an apartment building in Sevastopol, Crimea, according to the Moscow-installed governor.
Iranian Foreign Minister Abbas Araghchi accused U.S. government and Israel-aligned actors of manipulating energy markets to promote the war with Iran.
Russian strikes on the Kyiv region overnight killed 37 people, Ukrainian President Volodymyr Zelenskyy has said. Zelenskyy added that the Ukrainian capital was under "virtually nonstop attack" from drones.
The U.S. is to take control of a fifth of Venezuela’s vast oil reserves, President Donald Trump announced on Friday. He said that Washington had secured control of more than 65 billion barrels of the South American country’s reserves through a partnership with private business.
Walmart has reached a settlement with the U.S. government over allegations that its pharmacies unlawfully dispensed opioid prescriptions, helping fuel the country's opioid epidemic.
Greenland’s opposition parties have called for Denmark to be held accountable before the International Court of Justice over a decades-long campaign in which women and girls were fitted with contraceptive devices, often without their consent.
Icelanders will vote on Saturday, 29 August, on whether to resume negotiations with the European Union, in a referendum that could reopen the country’s long-debated membership question.
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