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Elon Musk Regains Top Spot as World’s Richest Person, Surpasses LVMH CEO’s Net Worth According to Bloomberg’s Latest Rankings

ByAlki David

Feb 28, 2023
Tesla Motors CEO Elon Musk speaks next to the company’s newest Model S during the Model S Beta Event held at the Tesla factory in Fremont, California October 1, 2011. REUTERS/Stephen Lam/File Photo

Elon Musk, the CEO of Tesla and Twitter, has regained his title as the wealthiest person in the world, according to the latest rankings from Bloomberg. With a net worth of $187.1 billion, Musk has overtaken Bernard Arnault, CEO of LVMH, to take the top spot on the list of the world’s richest people.

This is not the first time that Musk has held this title. He was briefly the world’s richest person in 2021, but was later overtaken by Arnault as Tesla’s stock price took a hit. However, the latest boost in Tesla’s stock price has catapulted Musk back to the top spot.

LVMH luxury group Chief Executive Bernard Arnault announces their 2019 results in Paris, France, January 28, 2020. REUTERS/Christian Hartmann

Tesla’s stock price hit a low of $108.10 on January 3rd, 2023, according to historical data on Yahoo Finance. But the company’s shares have since rebounded, closing at $207.63 on Monday. This surge in Tesla’s stock price has added more than $140 billion to Musk’s net worth since the start of the year.

Musk’s other ventures, including SpaceX and the Boring Company, have also contributed to his wealth. SpaceX is now valued at $100 billion, and Musk’s stake in the company is estimated to be worth around $20 billion. The Boring Company, which aims to revolutionize transportation through underground tunnels, is also expected to be a major source of revenue for Musk in the future.

Despite his immense wealth, Musk has faced criticism in recent years over his treatment of workers and his controversial statements on social media. He has also been involved in legal battles, including a lawsuit over his tweets about a British cave diver involved in the rescue of a Thai soccer team in 2018.

Regardless of the controversies surrounding him, Musk remains a prominent figure in the tech world and a symbol of the growing influence of Silicon Valley billionaires. With his net worth continuing to rise, it remains to be seen how long Musk will hold on to his title as the world’s richest person.

By Alki David

Alki David — Publisher, Media Architect, SIN Network Creator - live, direct-to-public communication, media infrastructure, accountability journalism, and independent distribution. Born in Lagos, Nigeria; educated in the United Kingdom and Switzerland; attended the Royal College of Art. Early internet broadcaster — participated in real-time public coverage during the 1997 Mars landing era using experimental online transmission from Beverly Hills. Founder of FilmOn, one of the earliest global internet television networks offering live and on-demand broadcasting outside legacy gatekeepers. Publisher of SHOCKYA — reporting since 2010 on systemic corruption inside the entertainment business and its expansion into law, finance, and regulation. Creator of the SIN Network (ShockYA Integrated Network), a federated media and civic-information infrastructure spanning investigative journalism, live TV, documentary, and court-record reporting. Lived and worked for over 40 years inside global media hubs including Malibu, Beverly Hills, London, Hong Kong and Gstaad. Early encounter with Julian Assange during the first Hologram USA operations proved a formative turning point — exposing the realities of lawfare, information suppression, and concentrated media power. Principal complainant and driving force behind what court filings describe as the largest consolidated media–legal accountability action on record, now before the Eastern Caribbean Supreme Court. Relocated to Antigua & Barbuda and entered sustained legal, civic, and informational confrontation over media power, safeguarding, and accountability at Commonwealth scale.