Elon Musk reclaims to the top, becomes richest person on the planet again

Elon Musk reclaims to the top, becomes richest person

Elon Musk, CEO of Tesla, once again overtook the position of richest person in the world on February 28, according to a Bloomberg Billionaires Index report. The second-placed French business tycoon Bernard Arnault has a net worth of $185 billion, trailing Tesla CEO Elon Musk by $187 billion.

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Elon Musk reclaims to the top, becomes richest person: Key Points

• With a net worth of $117 billion, Amazon Executive Chairman Jeff Bezos ranks third in terms of wealth.
• The strong increase in Tesla stock price, which rose to 92% in 2023 and outpaced the Nasdaq 100 rally so far in 2023, has been cited as the cause of the jump in Musk’s wealth.
• The increase in the Nasdaq 100 Index so far this year is 11%.

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What will Elon Musk be like in 2023?

• Musk’s net worth will reach $50 billion in 2023 and he will own a 13% share in Tesla at the time.
• Since October 2022, Bernard Arnault had held the top spot on the Bloomberg Billionaires Index, which he held until February 27.
• Even though Musk topped the index for the majority of 2022, Tesla’s share started to fall once he bought Twitter in October of that year. To pay for his acquisition of Twitter, Musk had to sell off billions of dollars’ worth of Tesla stock.

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