Musk surpasses Arnault as world’s wealthiest again

Musk surpasses Arnault as world’s wealthiest again

World's Wealthiest

Elon Musk has regained his position as the world’s richest person, surpassing French luxury goods tycoon Bernard Arnault. The change in rankings comes after the significant financial success of Musk’s new AI startup, xAI. Over the Memorial Day Weekend, Musk announced that xAI had raised $6 billion at an $18 billion pre-money valuation.

This was enough to elevate his net worth above Arnault’s. Musk originally co-founded OpenAI in 2015 before leaving three years later. He started xAI last July with the aim of competing directly with OpenAI.

Musk has criticized OpenAI, alleging that the company’s focus on profit has deviated from its original mission of benefiting humanity.

Musk surpasses Arnault

xAI has already made headlines with its Grok chatbot.

The chatbot has an open-source version aimed at fulfilling OpenAI’s initial mission of developing an open-source artificial general intelligence. This strategic move underscores Musk’s commitment to advancing AI in a way that maximizes public benefit. Despite most of his assets being non-liquid, Musk’s net worth is currently estimated at $210.3 billion.

See also  Salesforce earnings disappoint, send markets tumbling

This makes him $8.4 billion richer than Arnault’s $201.9 billion. Jeff Bezos ranks third with an estimated net worth of $194.5 billion. As the competition in AI intensifies, Musk’s xAI is set to lead the charge for more open and advanced AI technologies.

His continued passion for technological and human progress signals the potential for more innovative products in the future, contributing positively to the AI landscape.


About Our Editorial Process

At DevX, we’re dedicated to tech entrepreneurship. Our team closely follows industry shifts, new products, AI breakthroughs, technology trends, and funding announcements. Articles undergo thorough editing to ensure accuracy and clarity, reflecting DevX’s style and supporting entrepreneurs in the tech sphere.

See our full editorial policy.

About Our Journalist