Elon Musk once again becomes world's richest person, know how

New York: Elon Musk has once become the the world’s richest person with a net worth of $187.1 billion, according to Bloomberg Billionaires Index.

The Twitter and Tesla CEO lost the spot in December last year to Bernard Arnault, CEO of the French luxury brand Louis Vuitton. Musk remained the second wealthiest person in the world for about two months.

Bernard Arnault’s current fortune is estimated at $185.3 billion.

How Musk regained spot of world’s richest person?

Musk, CEO of electric car maker Tesla, regained the spot of world’s richest person after his wealth has increased by nearly 70 per cent in Tesla Inc.’s stock price this year.

Tesla Inc.’s stock price shot up about 100 per cent from intraday low on 6 January this year as investors pile back into bets on riskier growth stocks amid signs of economic strength and a slower pace of Federal Reserve interest-rate increases, Bloomberg report said.

The Tesla Inc.’s stocks closed at $207.63 on Monday. Improved demand for Tesla electric cars after cutting prices on several models also gave fillip to the surge in stock price.

Musk’s net worth fell by over $200 billion between November and December 2022 making him the first person ever to lose such a massive wealth. His net worth slid from around $340 billion in November to $137 billion in December. It happened after a massive decline in the value of Tesla shares.

Also Read: Tesla CEO Elon Musk no longer world’s richest man, Bernard Arnault takes the lead; know how

The decline in Tesla stocks earlier was accompanied by Musk’s acquisition of Twitter and an economic downturn in the technology sector.

Who are world’s top 10 richest people?

According to Bloomberg Billionaires Index, following are the world’s top 10 richest people.

Rank                 Name                        Total net worth

1                       Elon Musk                    $187B

2                       Bernard Arnault           $185B

3                       Jeff Bezos                     $117B

4                       Bill Gates                      $114B

5                       Warren Buffett             $106B

6                       Larry Ellison                 $102B

7                       Steve Ballmer              $89.4B

8                       Larry Page                   $84.7B

9                       Carlos Slim                  $83.2B

10                    Mukesh Ambani           $81.1B

Source: Bloomberg Billionaires Index

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