By John Ikani
Billionaire Elon Musk has regained his title as the world’s richest person with a net worth of $187 billion, surpassing France’s Bernard Arnault.
Elon Musk is the Chief Executive of Tesla, known for his various business ventures and technological advancements.
Besides Tesla, Musk is also the chief executive of SpaceX, a rocket manufacturing company, and has a stake in the social networking company Twitter.
According to a recent report by Bloomberg Billionaires Index, the increase in Tesla’s share prices was the reason behind Musk’s regained title, as Tesla shares soared by 92% on a year-to-date basis.
The Bloomberg Billionaires Index is a daily ranking of the world’s richest people, and the wealth figures are updated at the close of every trading day in New York.
It is worth noting that Musk’s net worth fell by over $200 billion between November and December last year, which was regarded as one of the largest losses of wealth in recent history.
Despite this setback, on Monday’s trade, Tesla’s shares closed 5.46% higher at $207.63, surging nearly 20% in the last month.
The gains in Tesla’s stock outpaced the rally in the tech-heavy Nasdaq 100 index which is up about 11% in 2023.
Chief Twit
In April 2022, Musk offered to buy Twitter Inc for $44 billion, and the deal closed in October 2022.
After taking over as CEO of Twitter, Elon Musk cut more than 3,700 jobs, which was about half of the company’s workforce.
Recently, Twitter announced its eighth round of layoffs, and more than 50 people were fired by Mr. Musk-led administration.
Last week, Elon Musk confirmed that he has unblocked everyone on the microblogging platform, calling “negative feedback a good thing.”
The billionaire clarified that everyone that he has ever blocked on Twitter has been unblocked, apart from the scammers, and he recommended people do the same thing.
