Amazon founder Jeff Bezos is no longer world's third richest person, his net worth is…, spot now is taken by..., Zuckerberg's position also at risk
At the same time, the world's richest person – Elon Musk – added $10.7 billion to his net worth when Tesla's stock increased by 4.97%. Earlier, on Tuesday, Musk had lost more than $12 billion. Musk's net worth is now $361 billion. Musk has had the biggest loss so far this year of any billionaire at a total of $71.2 billion. Mark Zuckerberg, CEO of Meta Platforms (formerly Facebook) is now in second place at $252 billion. The gap between Zuckerberg and Larry Ellison is now just $6 billion.
Microsoft co-founder Bill Gates is 5th in the list of the wealthiest people in the world at $175 billion. Ex-Microsoft CEO Steve Ballmer comes in 6th at $170 billion. France's Bernard Arnault, who sells handbags, is 7th at $162 billion. Larry Page and Sergey Brin are on the list at $162 billion and $152 billion in 8th and 9th respectively while Warren Buffett is at 10th at $144 billion. India's richest and the richest in Asia, Mukesh Ambani is at 16th at $111 billion while Gautam Adani is at 20th at $85.2 billion.
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Time of India
28 minutes ago
- Time of India
Elon Musk launches 'The America Party': Social media explodes and triggers digital firestorm
Elon Musk just dropped the bomb: he has launched a brand-new political outfit called the America Party. And this isn't just Musk being Musk. It's a full-on political pivot that signals some serious drama in the making. Over the July 4 weekend, Musk rolled out an X poll asking, 'Do you want independence from the two-party (some would say uniparty) system?' Out of ~1.2 million votes, a whopping 65% yelled 'Yes!' That gave Musk the green light, and boom—'Today, the America Party is formed to give you back your freedom.' This wasn't just for show. A day earlier, President Trump had signed the blockbuster 'Big, Beautiful Bill'—a massive $3–4 trillion tax and spending package. Musk flipped, calling it reckless and reckless 'waste & graft,' and warned that this could bankrupt America. Musk isn't planning to run a full-frontal assault on Biden or Trump right away. Instead, he's talking about strategic hits—'laser-focus' on a few congressional seats, like 2‑3 Senate races and 8‑10 House districts. The idea? Be the swing vote in a divided Congress. He even dropped history vibes, referencing Epaminondas at Leuctra: crush the dominant force with targeted precision. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Why seniors are rushing to get this Internet box – here's why! Techno Mag Learn More Undo His plan? Hit key battlegrounds during the 2026 midterms. Social media reactions "This man could put an end to all of this… All he has to do is tell the truth about the election." "Hey @elonmusk, the entire world will love you if you take down Trump. You do realize that." "The tattered bromance between Donald Trump and his main campaign financier Elon Musk took another fractious turn when the billionaire announced the formation of a new political party." Trump vs Musk: Round two? Remember, Musk was a major Trump donor—hundreds of millions funneling into the 2024 campaign, plus co-leading Trump's DOGE (Department of Government Efficiency) initiative. But now? Their bromance is toast. Trump retaliated, threatening to yank subsidies from Musk's Tesla and SpaceX. And (as usual) Tesla's stock is a rollercoaster, swinging with every headline. Launching a third party in the U.S. is like climbing Everest with flip‑flops. But let's be honest, this rollout feels part power move, part flex. Even if the America Party doesn't win seats, it could shake things up by pulling votes—or maybe just highlight Musk's vision for a 'freer' system.
NDTV
32 minutes ago
- NDTV
Behind 'America Party': Why Elon Musk Launched A New Political Outfit
Elon Musk, the world's richest man, is now going solo in politics after a brief stint in the administration of US President Donald Trump, the world's most powerful elected leader. He declared the formation of the ' America Party ' early this morning after an online poll, dropping the announcement weeks after his fallout with Trump. Behind the President and Musk's fallout was a massive package of spending and tax breaks that Trump had described as a "big, beautiful bill", while his former government efficiency chief had called it "utterly insane and destructive". The idea of a new political party was always there, waiting for Trump to sign the bill into law. And as Trump signed the bill during the July 4 celebrations at the White House, Musk asked his supporters online whether he should go ahead with the new party. With the poll in his favour, Musk declared, "By a factor of 2 to 1, you want a new political party, and you shall have it." Why A New Party? Musk, who was once a "first buddy" to the Republican leader, aims to challenge the country's "one-party system". "When it comes to bankrupting our country with waste and graft, we live in a one-party system, not a democracy. Today, the America Party is formed to give you back your freedom," he said in an online post. The America Party also has plans to counter the uniparty system, which the tech billionaire described with an example of the defeat of Spartan warriors. "The way we're going to crack the uniparty system is by using a variant of how Epaminondas shattered the myth of Spartan invincibility at Leuctra: Extremely concentrated force at a precise location on the battlefield," said Musk. While not much detail is available on the new political party, Musk affirmed a user's query that the outfit be centrist, aim to reduce debt, modernise the military and be pro-technology that takes the US ahead in artificial intelligence. The Rift That Mattered Musk earlier led the US efforts to cut spending and federal jobs as the head of the so-called Department of Government Efficiency (DOGE), which was introduced by Trump after his thumping victory in last year's elections. The two echoed the need for cutting government spending, but Trump's spending bill deterred Musk from continuing this alliance. The bill would "destroy millions of jobs" and "cause immense strategic harm" to the US, Musk had said. Musk quit the US administration in May end. Over a month later, he revealed his plan to launch a new alternative to the Democrat-Republican uniparty if the Senators went ahead with Trump's "big, beautiful bill". "If this insane spending bill passes, the America Party will be formed the next day. Our country needs an alternative to the Democrat-Republican uniparty so that the people actually have a VOICE," he had said on July 1.
Mint
36 minutes ago
- Mint
‘You shall have it,' Elon Musk launches new political party - ‘America Party' - after Trump's tax bill passes
Elon Musk on Saturday revealed the launch of a new political party, just a day after President Donald Trump approved a tax-cut and spending package that was openly criticised by the Tesla boss. Musk revealed the development on his X platform, citing a poll he conducted showing that 65% of respondents supported the idea of launching an 'America Party.' The yes-or-no survey earned more than 1.2 million responses. "By a factor of 2 to 1, you want a new political party and you shall have it!" he posted on Saturday. 'Today, the America Party is formed to give you back your freedom.' Musk also shared a meme depicting a two-headed snake and the caption 'End the Uniparty.' Musk, the world's richest man, didn't provide details. He floated the idea as Congress prepared to pass Trump's budget package, which will end of a popular $7,500 consumer tax credit for electric vehicle purchases this year. It is not clear how much impact the new party would have on the 2026 mid-term elections, or on the presidential vote two years after that. The Trump-Musk feud reignited in dramatic fashion late last month as Trump pushed Republicans in Congress to ram through his massive domestic agenda in the form of the One Big Beautiful Bill. Musk expressed fierce opposition to the legislation, and ruthlessly attacked its Republican backers for supporting "debt slavery." He vowed to launch a new political party to challenge lawmakers who campaigned on reduced federal spending only to vote for the bill, which experts say will pile an extra $3.4 trillion over a decade onto the US deficit. The feud with Trump, often described as one between the world's richest man and the world's most powerful, has led to several precipitous falls in Tesla's share price. The stock soared after Trump's November reelection and hit a high of more than $488 in December, before losing more than half of its value in April and closing last week out at $315.35.
