FORBES releases a list every year, detailing the wealthiest people in the world.
Here, we see who was named the world's richest person by Forbes in 2022, and who else is on the list.
Who is the richest man in the world?
Tesla founder Elon Musk has overtakenAmazon executive chairman Jeff Bezos as the richest man in the world.
Third on the list, after overtaking Bill Gates, is luxury brand tycoon Bernard Arnault – who owns 70 brands including Louis Vuitton and Sephora, with $158billion
Microsoft boss Gates' wealth now stands at $129billion.
Making up the top five is Warren Buffett. The Berkshire Hathaway founder is worth $118billion.
Who was top of the Forbes rich list for 2022?
Forbes magazine regularly updates its list of the top richest celebrities.
Here is a look at the top five richest people in the world for 2022.
1.Elon Musk
Elon Musk is now one of the most recognisable faces in business who has become famous for his galaxy-wide scope and vast ambition.
Among his many roles, the visionary thinker is the founder and CEO of SpaceX as well as co-founder CEO and product architect of Tesla Motors.
His stated aim is to reduce global warming and save humans from extinction by setting up a colony on Mars.
In February 2018, Musk's company SpaceX launched the world's most powerful rocket to the red planet with the aim of saving humanity.
The billionaire inventor is also working on the world's largest lithium-ion battery to store renewable energy.
In 2022, Musk acquired social media platform Twitter.
2. Amazon founder Jeff Bezos
In 1994, Bezos founded Amazon from a garage and five years later he was named Time magazine's person of the year as he went on to create one of the most lucrative businesses in the world.
As of 2022, it is estimated that he has a 10 per cent stake in the company.
Alongside Amazon, the tech giant is the founder of Blue Origin, a company working to develop commercial space travel.
Blue Origin sent its first crewed mission into space on July 20, 2021. Jeff Bezos was one of the four crew members on the ten-minute trip.
He also owns the Washington Post and is a volunteer firefighter.
3. Bernard Arnault
Bernard Arnault is the chairman of world's largest maker of luxury goods, LVMH, and is the richest man in France.
He oversees an empire of around 70 brands including including luggage maker Louis Vuitton, Moet champagne and Hennessy brandy.
In 2019, he was valued as the second richest person in the world overtaking Bill Gates.
Arnault made headlines in 2020 when he committed $22 million to the rebuilding of fire-ravaged Notre Dame Cathedral in Paris.
He controls about half of Paris-based LVMH and also owns a 97 per cent share in Christian Dior,
4. Microsoft co-founder Bill Gates
Bill Gates topped the Forbes 2017 list as the richest man in the world with a fortune of $98billion (£63.9billion).
The tech mogul co-founded Microsoft in 1975.
In 2000, he and his then-wife Melinda Gates worked together to form the Bill & Melinda Gates Foundation, one of the largest charitable foundations in the world with an endowment of $50billion.
Bill Gates stepped down from the board of Microsoft on March 13, 2020, nearly 45 years after he founded the company with Paul Allen and 20 years after he stepped down as CEO in 2000.
5. Warren Buffett
Founder of Berkshire Hathaway, which owns dozens of companies, including insurer Geico, battery maker Duracell and restaurant chain Dairy Queen.
Buffett became a billionaire when Berkshire Hathaway began selling class A shares on May 29, 1990, with the market closing at $7,175 a share.
In 2010, he and Bill Gates launched the Giving Pledge, asking billionaires to commit to donating at least half of their wealth to charitable causes.
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