Elon Musk regains ‘World’s Richest Person’ title

By Stermy 2 Min Read

Elon Musk has reclaimed his position as the world’s richest person, with an estimated net worth of $187.1 billion, according to the Bloomberg Billionaires Index.

As Tesla shares fell last winter, the Tesla co-founder briefly lost the top spot to Bernard Arnault of luxury conglomerate LVMH.

According to Bloomberg, Tesla stock is up 100% since January 6, this year, driven by increased investor demand, customer interest in recently discounted Tesla models, and a better economic forecast.

Mr Musk’s situation looked very different as recently as December.

Between November 2021 and December 2022, the net worth of Twitter’s owner fell by more than $200 billion, one of the largest losses of wealth in recent history.

That sum is equivalent to Greece’s GDP and was greater than the entire net worth of Mr Arnault, the world’s next-richest man at the time.

The sudden drop was caused by the rapid decline in the value of Tesla stock at the time.

Last year was the company’s worst year on Wall Street, with a $700 billion loss due to investor concerns about the impact of Covid in China and Mr Musk’s contentious takeover of Twitter.

Mr Musk has made light of his at times chaotic financial situation.

Last week, the individual made a joke about spending $44 billion to acquire “the world’s largest non-profit” after their controversial takeover of Twitter in 2022.

In November, they stated that Twitter was losing $4 million per day. Despite significant layoffs, reducing the workforce from 7,500 to approximately 2,000 employees in recent months, the billionaire appears to have made fun of their recently terminated colleagues.

On Sunday, he appeard to make a joke about another 200 employees who were reportedly let go.

“Hope you have a good Sunday. First day of the rest of your life,” he wrote on Twitter.


Share This Article
By Stermy
Stermy is one Crazy fan of the word "Internet". Always online to stay informed and keep others updated. #townflex