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.
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.