My chat tag system is faulty. How can I make sure whoever is #1 on the global leaderboard always has their chat tag?

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#1
  1. What do you want to achieve?
    I am trying to create a chat tag for whoever is #1 on the global leaderboard
  2. What is the issue?
    After testing my code in studio, it worked one time. After losing my #1 spot and reattaining it, the tag was gone. I could not reattain the tag.
local players = game:GetService("Players")
local chatService = require(game.ServerScriptService:WaitForChild("ChatServiceRunner"):WaitForChild("ChatService"))

local tags = {
	[0] = {TagText = "#1 Level", TagColor = Color3.fromRGB(15, 255, 219)}, 
}

chatService.SpeakerAdded:Connect(function(playerName)
	local speaker = chatService:GetSpeaker(playerName)
	local player = game.Players[playerName]
	
	local leaderstats = player:WaitForChild("leaderstats")
	player.Cash.Changed:Connect(function()
	local firstPlace = game.Workspace.LB.LeaderboardUI.ScrollingFrame.Holder:FindFirstChild("LeaderboardFrame"):WaitForChild("Player").Text
	local tagslist = {}

	if tags[player.UserId] then
		table.insert(tagslist, tags[player.UserId])
	end

	if player.Name == firstPlace then
		table.insert(tagslist, {TagText = "#1 Level", TagColor = Color3.fromRGB(255, 234, 0)})
	end

	speaker:SetExtraData("Tags", tagslist)
end)
end)