The World’s 10 Richest People Lost Nearly $50 Billion In October

Together, the world’s 10 richest people, according to Forbes, are worth $1.32 trillion as of November 1—but that’s nearly $50 billion less than a month ago. Led by a $35 billion decline in Elon Musk’s fortune during October, half of the ten richest are worth less on November 1 than they were at the start of October.

Nonetheless, the trend this year has been for the fortunes at the top of the list to grow. All of the top ten richest are worth $100 billion or more as of November 1, a change from March, when only six of the top ten had fortunes that exceeded $100 billion and the top ten were worth a combined $1.17 trillion.

For most of the first half of 2023, French luxury goods magnate Bernard Arnault was the world’s richest person, per Forbes—but that changed on June 8, 2023, when Tesla CEO Elon Musk overtook Arnault to become No. 1 in the world again. As of November 1, 2023, Musk is still the world’s richest person—a position he also held for much of 2022—but his fortune has shrunk by 14% in the past month, the result of a 20% decline in the share price of electric vehicle maker Tesla.

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