the world's 10 richest people according to Forbes are worth nearly $50 billion less than they were a month ago as of November 1st more than two-thirds of that decline is due to the drop in one person's Fortune Elon Musk though he's still the richest person in the world dropped by $35 billion in net worth during the month of October as shares of Tesla the electric car maker he runs slid by 20% altogether the world's top 10 richest are worth an estimated $1.32 trillion up from $1.17 trillion when we published our annual billionaires list with a total of 2,640 billionaires in April this year many billionaires hold much of their Fortunes in the stock of the company they founded as that stock price moves their Fortune moves along with it Forbes updates billionaire fortunes on a daily basis here are the five richest billionaires in the world as of November 1st 2023 at number five Warren Buffett the Oracle of Omaha is the most generous billionaire on the planet he topped Forbes list of the biggest givers in January and gave away another $4.6 billion worth of his birkshire hathway shares in mid June between October 1st and November 1st his fortune fell by $3 billion due to a slight drop in the price birkshire haway stock at number four Larry Ellison the software Tycoon behind Oracle has a smaller Fortune than a month ago as well though he's held on to his rank at number four a 3% decline in Oracle shares during October shaped $5 billion from his fortune Forbes now pegs Ellison's net worth at nearly 131 billion ion dollar at number three Jeff Bezos the founder chairman and former CEO of Amazon the only billionaire in the world's top five whose net worth Rose in October between October 1st 2023 and November 1st of this year he got $5.9 billion richer as a result of an uptick in Amazon shares at number two Bernard Arno who still ranks as the number two richest person in the world though he's worth about $10 billion less than a month ago due to a 5% drop in the price of his luxury goods conglomerate lvm our know is the CEO and chairman of lbmh a behemoth with more than 70 brands from Louis Vuitton and Christian Dior to Tiffany and Co and Sephora at number one Elon Musk the Tesla CEO has been the richest person in the world since June but October wasn't a great month for his electric car company the drop in Tesla share price reduced his fortune by 14% Tesla missed both earnings and revenue expectations in quarterly earnings reported on October 18th and musk expressed concern about the high interest rate environment and the need to low the price of Tesla's [Music] cars
