Elon Musk is once again the richest person in the world
Tesla and Twitter CEO Elon Musk recaptured the title of the world’s richest person by placing first in the Bloomberg Billionaires Index months later.
Elon Musk lost his throne last December due to the sharp fall in the shares of Tesla and Twitter. Bernard Arnault, CEO of French luxury consumer brand LVMH, has surpassed Musk to become the world’s richest person.
While Musk stayed at No. 2 on the list for about 3 months, as of yesterday, Bloomberg reported that Musk has risen to the top of the Real-Time Billionaires Index. Tesla’s stock rally played a role in this development.
TESLA SHARES HAVE FLOWN
Tesla shares fell sharply last year due to Musk’s acquisition of Twitter and the market contraction in technology stocks. But 2023 has started well for the electric vehicle maker. Shares have risen since the beginning of the year.
While the company’s shares have risen by 70 percent since the start of the year, the shares have risen to nearly double in value from their lowest level for the year.
In addition to the overall rise in the Nasdaq100 technology index, expectations that the company’s discount on some models will boost demand led to a sharp rise in the shares. Tesla shares were up 5.5 percent at $207 on the first trading day of the week yesterday.
2022 HAS BEEN LOST YEAR
According to Bloomberg, after the markets closed yesterday, Musk’s net worth increased to $187.1 billion. Thus, Musk’s wealth surpassed Arnault’s fortune of $185.3 billion.
Losing $200 billion of his fortune in 2022, Musk, 51, entered 2023 with a net worth of $137 billion.