Connect with us

Social & Entertainment

Elon Musk is again the world’s richest person.

Published

on

Elon Musk surpassed Bill Gates as the richest person in the world once again, according to the Bloomberg Billionaires Index report. Musk now has a total net worth of $187 billion.

According to a Bloomberg Billionaires Index report, the Tesla CEO, Elon Musk, once again overtook the position of the richest person in the world on February 2023. Elon Musk has a wealth of $187 billion leaving French business tycoon Bernard Arnault in second place who has a net worth of $185 billion. Bernard Arnault, the chairman of French luxury goods giant LVMH (LVMHF), previously was the first European to top Bloomberg’s list of the world’s richest people. Now with a total worth of $185 billion, Arnault’s wealth falls behind the Tesla CEO’s $187 billion fortune on 28th Feb 2023, according to the Bloomberg Billionaires Index.

With a net worth of $117 billion, Amazon Executive Chairman Jeff Bezos ranks third in terms of wealth. Over the last year, Musk has also amassed more fortune than Bill Gates, whose total net worth is $132 billion. A spectacular financial turnaround for the outspoken entrepreneur who, just 18 months ago, was in the news for Tesla’s quick capital burn and his personal leverage against the company’s equity, Musk’s wealth increase over the past year represents the fastest ascension to the top of the wealthy list in history. The strong increase in Tesla stock price, which rose to 92% in 2023 and outpaced the Nasdaq 100 rally so far in 2023, has been cited as the cause of the jump in Musk’s wealth. The increase in the Nasdaq 100 Index so far this year is 11%.

Musk’s net worth will reach $50 billion in 2023 and he will own a 13% share in Tesla at the time. Since October 2022, Bernard Arnault had held the top spot on the Bloomberg Billionaires Index, which he held until February 27.

Even though Elon Musk topped the index for the majority of 2022, Tesla’s share started to fall once he bought Twitter in October of that year. To pay for his acquisition of Twitter, Musk had to sell off billions of dollars’ worth of Tesla stock.

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Trending

Copyright © 2023 Futurfeed