00:00 The world's 10 richest people, according to Forbes, are worth nearly $50 billion less
00:04 than they were a month ago, as of November 1st.
00:07 More than two-thirds of that decline is due to the drop in one person's fortune.
00:11 Elon Musk, though he's still the richest person in the world, dropped by $35 billion in net
00:16 worth during the month of October, as shares of Tesla, the electric car maker he runs,
00:20 slid by 20%.
00:22 Altogether, the world's top 10 richest are worth an estimated $1.32 trillion, up from
00:28 $1.17 trillion when we published our annual billionaires list, with a total of 2,640 billionaires
00:34 in April this year.
00:36 Many billionaires hold much of their fortunes in the stock of the company they founded.
00:40 As that stock price moves, their fortune moves along with it.
00:44 Forbes updates billionaire fortunes on a daily basis.
00:46 Here are the five richest billionaires in the world as of November 1st, 2023.
00:51 At number five, Warren Buffett.
00:54 The Oracle of Omaha is the most generous billionaire on the planet.
00:57 He topped Forbes' list of the biggest givers in January and gave away another $4.6 billion
01:02 worth of his Berkshire Hathaway shares in mid-June.
01:05 Between October 1st and November 1st, his fortune fell by $3 billion due to a slight
01:09 drop in the price of Berkshire Hathaway stock.
01:12 At number four, Larry Ellison.
01:14 The software tycoon behind Oracle has a smaller fortune than a month ago as well.
01:18 Though he's held onto his rank at number four, a 3% decline in Oracle's shares during October
01:23 shaped $5 billion from his fortune.
01:26 Forbes now pegs Ellison's net worth at nearly $131 billion.
01:31 At number three, Jeff Bezos.
01:33 The founder, chairman, and former CEO of Amazon.
01:36 The only billionaire in the world's top five whose net worth rose in October.
01:41 Between October 1st, 2023 and November 1st of this year, he got $5.9 billion richer as
01:46 a result of an uptick in Amazon shares.
01:49 At number two, Bernard Arnault, who still ranks as the number two richest person in
01:52 the world, though he's worth about $10 billion less than a month ago due to a 5% drop in
01:57 the price of his luxury goods conglomerate, LVMH.
02:00 Arnault is the CEO and chairman of LVMH, a behemoth with more than 70 brands from Louis
02:04 Vuitton and Christian Dior to Tiffany & Co and Sephora.
02:08 At number one, Elon Musk.
02:10 The Tesla CEO has been the richest person in the world since June, but October wasn't
02:14 a great month for his electric car company.
02:16 The drop in Tesla's share price reduced his fortune by 14%.
02:20 Tesla missed both earnings and revenue expectations in quarterly earnings reported on October
02:25 18th, and Musk expressed concern about the high interest rate environment and the need
02:29 to lower the price of Tesla's cars.
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