Elon Musk has risen to the top of Bloomberg’s billionaires list again. On the other hand, it still ranks second on Forbes’ list.
The rivalry for wealth among the richest names in the world continues at full speed. until December 2022 Elon Musk, who was the leader for a long time by far, fell to the second rank of the list with Tesla shares, his statements on Twitter and his acquisition of Twitter.
Today, however, the situation has changed—or seems to have changed. Elon Musk surpasses Bernard Arnault on Bloomberg’s daily list of billionaires re-ranked first. According to Forbes data, Musk is still in second place.
This is what the Bloomberg and Forbes billionaire lists look like (data from June 1):
- Elon Musk – $192 billion
- Bernard Arnault – $187 billion
- Jeff Bezos – $144 billion
- Bill Gates – $125 billion
- Larry Ellison – $118 billion
- Bernard Arnault – $216.9 billion
- Elon Musk – $200.2 billion
- Jeff Bezos – $143.3 billion
- Larry Ellison – $132.2 billion
- Bill Gates – $114 billion
Why are there differences in the lists?
In addition to the ranking in the Forbes and Bloomberg lists, the wealth information offered for the names also has a big difference. This difference is used by both organizations in calculating wealth. from the difference in methodology originates.
Bloomberg uses markets, economy and Bloomberg news in its calculations. According to the end-of-day share values of the New York stock market is updating.
Forbes, on the other hand, calculates the value of all known assets owned by billionaires every five minutes, It’s not just a stock market. If a person owns a private company (like Elon Musk’s SpaceX and Twitter), the value of that company is determined by the market index specific to the industry and region, adding to the wealth.
In fact, the work differs greatly in the calculation of private companies. Unlike Forbes, Bloomberg calculates the value of private companies with factors such as price-earnings ratio comparison, comparable transactions and EBITDA, and evaluates these companies according to the market movements of peer companies.
No need to ‘shake’ these lists too much though
The slightest movement in the stock markets can cause the super-rich in the above list to increase or decrease their wealth by billions of dollars. However, these stock movements are actually neither Elon Musk nor other super-rich. It doesn’t affect their daily life. Because if Elon Musk owns a company, he continues to own it even when its value drops, and that company continues to do what it has done to date.
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