Kanye West drops off the billionaires list, Elon Musk falls from top spot

Ye, previously referred to as Kanye West, fell off Forbes’ billionaires checklist after dropping about $1.6 billion of his web value when he misplaced a number of trade offers after making antisemitic feedback. Ye isn’t the best individual to fall off the checklist. In truth, 254 one-time billionaires are now not, Forbes says.

Ye had an estimated web value of $2 billion in 2022, however misplaced $1.5 billion when Adidas terminated their partnership. He did not make it to the 2023 billionaires checklist, however he nonetheless has a big web value – about $400 million, Forbes says – created from money, actual property and the worth of his song. He additionally owns 5% of Skims, the shapewear emblem based via his ex-wife Kim Kardashian, with whom he has 4 kids. 

Forbes says there are 2,640 billionaires in the international and just about part of them are poorer than they have been in 2022, with inflation, a drop in crypto and the conflict in Ukraine contributing to many in their losses. 

Sam Bankman-Fried, founding father of the collapsed cryptocurrency change FTX, additionally fell off the checklist after being arrested in the Bahamas ultimate December for allegedly dishonest buyers out of billions of bucks. He has been extradited to the U.S. and faces 13 fees. 

Other notable individuals who fell off the checklist come with Andy Fang and Stanley Tang, cofounders of DoorDash, and Capital One CEO Richard Fairbank. 

Bruce Nordstrom, former chairman of the eponymous division retailer, dropped off the 2023 checklist, according to Forbes, however as of April 4, his web value used to be again as much as $1 billion. 

Elon Musk’s net worth also dropped – despite the fact that he’s nonetheless very a lot a billionaire. Musk steadily holds the identify of “richest man in the world,” however this week, he dropped to the No. 2 spot, according to Forbes. 

As of April 6, Musk has a web value of $188.2 billion, whilst Bernard Arnault and his circle of relatives, who personal the luxurious model conglomerate LVMH, take the top spot with $227 billion. 

Musk’s web value steadily fluctuates and it has dipped a number of occasions all over his tumultuous takeover of Twitter, all over which he offered massive quantities of his Tesla stocks to shop for the social media corporate. He now owns 74% of Twitter, in step with Forbes. 

In November, his web value dropped to an estimated $195.6 billion, hitting its lowest level for the 12 months, according to Forbes. That used to be the 2d time since Oct. 1, 2021, that his web value dipped under $200 billion – excluding for a temporary drop to $199 billion in May 2022, Forbes reviews. 

In January, it used to be estimated he had misplaced $182 billion of his web value since November 2021 and that huge drop in truth earned him a Guinness World Record – for the biggest lack of private fortune in historical past.