According to the BBI, the combined net worth of the world’s 500 richest entrepreneurs grew by $1.5 trillion in 2023.

Also joining Musk in the top three were French tycoon Bernard Arnault, owner of LVMH Moet Hennessy Louis Vuitton SA and also founder Amazon Jeff Bezos. In fourth place is the founder Microsoft Bill Gates, in fifth place is ex-Microsoft CEO Steve Ballmer.

Earlier, on December 28, it became known that L’Oreal heiress Francoise Bettencourt Meyers became the first woman with a fortune of $100 billion, amid a sharp rise in shares of the cosmetics company. France’s dominance of luxury retail has already spawned several other super-rich families, including the clan that owns Hermes International SCA and the Wertheimer brothers who run Chanel.