Elon Musk regains the title of world’s richest man !! Once Again
Written by Surithi J Published on Feb 28, 2023 | 17:51 PM IST | 90
Elon Musk, the billionaire entrepreneur and CEO of Tesla and SpaceX, has reclaimed his title as the world’s richest person, according to the Bloomberg Billionaires Index. Musk’s net worth was estimated at approximately $187 billion, surpassing the $185 billion fortune of Bernard Arnault, the CEO of LVMH and one of the richest people in France.
Musk’s rise to the top of the world’s richest people list was largely due to the soaring value of Tesla’s shares, which have risen 92% on a year-to-date basis. The increase in Tesla’s share prices has helped Musk to regain his position as the world’s richest person, a title he lost in November 2021 when his net worth fell by over $200 billion.
On Monday’s trade, Tesla’s shares closed 5.46% higher at $207.63, a strong performance that has helped the company to outpace the rally in the tech-heavy Nasdaq 100 index, which is up about 11% in 2023. Tesla’s shares have surged nearly 20% in the last month alone.
The Bloomberg Billionaires Index is a daily ranking of the world’s richest people, with wealth figures updated at the close of every trading day in New York. Elon Musk is known for his various business ventures and technological advancements. He is also the CEO of SpaceX, a rocket manufacturing company, and has a stake in the social networking company Twitter.
In April 2022, Musk offered to buy Twitter Inc for $44 billion, a deal that closed in October 2022. After taking over as CEO of Twitter, Elon Musk cut more than 3,700 jobs or half of the company’s workforce. Recently, Twitter announced its eighth round of layoffs, with more than 50 people fired by Musk-led administration.
Last week, Musk confirmed that he has unblocked everyone on the microblogging platform, calling “negative feedback a good thing.” The billionaire clarified that he has unblocked everyone he has ever blocked on Twitter, except for scammers. He also recommended that people do the same thing.
Elon Musk’s net worth has been highly volatile in recent years, with his fortunes rising and falling based on the performance of his various companies. However, Musk’s net worth has consistently remained in the billions of dollars, and his wealth has made him one of the most influential and controversial figures in the tech industry.
In addition to his work with Tesla, SpaceX, and Twitter, Musk has also made headlines for his plans to build a high-speed transportation system called the Hyperloop, as well as his vision for a colony on Mars. Musk’s ambitious plans and unorthodox leadership style have earned him both praise and criticism from investors, analysts, and the media.
Despite the ups and downs of his career, Elon Musk remains one of the most influential and innovative figures in the world of technology and entrepreneurship. With his latest rise to the top of the world’s richest people list, it seems that Musk’s fortunes are once again on the rise, as he continues to push the boundaries of what is possible in the world of business and technology.
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