Elon Musk has regained his title as the world’s richest person after briefly losing it to Bernard Arnault, the CEO of luxury brand Louis Vuitton. According to Bloomberg’s Billionaires Index, Musk’s net worth has risen to $187.1 billion, surpassing Arnault’s $185.3 billion fortune.
Musk’s rise to the top was driven by a surge in Tesla stock, which has risen by nearly 70% this year. The company has also benefited from increased demand for its electric vehicles after cutting prices on several models.
At the start of 2023, Musk’s net worth was $137 billion, after becoming the first person ever to lose $200 billion from their fortune. This raised concerns that he might struggle to reclaim his title as the world’s richest person. However, with Tesla’s recent success, Musk has once again become the wealthiest individual in the world.
Musk’s loss of the top spot came amid the fallout from his $44 billion purchase of Twitter, where he laid off thousands of workers and waded into political debates. Some Tesla investors were concerned that Musk was spending too much time on Twitter and neglecting the company’s operations.
Despite these challenges, Musk’s companies have continued to thrive, and he remains a leading figure in the tech industry.