Wealth of world's 25 richest people down to $2.1 trillion: Forbes

By Ovunc Kutlu

ISTANBUL (AA) – The total wealth of the world's 25 richest people was down $200 billion to $2.1 trillion, from $2.3 trillion last year, according to Forbes' World’s Billionaires list released Tuesday.

Two-thirds of the 25 richest are now poorer than they were last year, compared to around half of the overall list, it said in a statement.

Amazon's founder Jeff Bezos, 59, lost the most as shares of the e-commerce company plummeted 38%, causing a $57 billion loss in his fortune to $114 billion, and pushed him from second place in 2022 to the third spot.

Elon Musk, CEO of Tesla, SpaceX and Twitter, saw his worth decline by $39 billion to $180 billion. The 51-year-old lost his spot at the top and ranks second on the list.

Bernard Arnault, 74, chairman and CEO of French fashion powerhouse LVMH Moët Hennessy Louis Vuitton, ranks first as he saw his wealth grow by $53 billion to $211 billion.

Two billionaires joined the top-25 in 2023 -- Canadian media mogul David Thomson and Nike's co-founder Phil Knight.

"Americans dominate the top of the billionaires ranks, taking 17 of the 25 spots, followed by France and India, with two apiece," it added.

The 25 richest people in the world mostly made their money in technology, with eight, followed by fashion and retail with seven.