Tesla CEO Elon Musk has retaken his place as the world’s wealthiest person by net worth. The feat was achieved as Musk was wrapping up a busy two-day trip to China, which saw the CEO meeting with several high-profile officials and suppliers over the course of two days.
As per the Bloomberg Billionaires Index, Musk’s net worth has reached $192 billion, allowing him to edge out luxury goods tycoon Bernard Arnault. For context, Arnault, the chairman of LVMG Moet Hennessy Louis Vuitton, is currently listed with a total net worth of $187 billion.
While Musk’s net worth and rankings among the world’s wealthiest took a notable dive last year, his fortunes did see a rebound this year. A good portion of Musk’s net worth is tied to his personal stake in electric vehicle maker Tesla. And while Tesla showed growth last year, Covid-related challenges in China and Musk’s acquisition of Twitter put pressure on TSLA stock.
This ultimately resulted in Musk losing his title as the world’s wealthiest person by net worth to Arnault in December 2022. But while 2022 was a bad year for TSLA, the electric vehicle maker’s shares saw a sharp rebound this year, especially following substantial price cuts to its vehicle lineup. Tesla’s price cuts paved the way for record deliveries, and TSLA shares rose as a result.
Since Musk’s fortune is heavily tied to Tesla, Musk’s net worth also saw massive growth this year. As per Bloomberg‘s estimates, Musk’s net worth appears to have seen a growth of $55.3 billion year to date. Tesla shares, for their part, have seen an impressive 88.65% growth year to date.
Provided that Tesla does not experience considerable difficulties this year, Musk’s net worth would likely see a rise this year. Despite being the world’s wealthiest again, after all, Musk’s present net worth of $192 billion is still a far cry from its peak of over $300 billion, which was achieved in late 2021.
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