Tesla (NASDAQ:TSLA)
Since the beginning of 2023, Tesla stock has increased by about 100%, propelling Elon Musk back to the top of the Bloomberg Billionaire Index.
With a significant decline for Tesla (NASDAQ:TSLA) in the previous year, the South African-born entrepreneur had temporarily ceded his title as the wealthiest man in the world to Bernard Arnault, the president of LVMH, in 2022. As a result of Tesla’s decline of over sixty percent during the year 2022, Musk’s wealth did, in fact, decrease by more than one hundred billion dollars. On the other hand, the decrease in the value of LVMH shares was far more muted.
Yet things have taken a turn for the better in the year 2023. According to Bloomberg, Musk’s fortune has increased by $50.1 billion this year, more than double the $23.2 billion that Arnault has seen. With a rise of more than 5% for Tesla stock on Monday, Elon Musk was finally able to overtake Bernard Arnault as the owner of the largest fortune. By the day’s end, Musk was assessed to have $187 billion, while Arnault was predicted to have $185 billion.
In addition to Tesla, Elon Musk is involved in several other businesses that contribute to his entire fortune, including SpaceX, The Boring Company, Neuralink, and Twitter.
Bloomberg and Forbes use different methods to arrive at their respective wealth estimates. As a result, Forbes continues to rank Arnault as the wealthiest man in the world, with an estimated $209.6 billion. According to the publication’s real-time billionaires list from Tuesday, it is estimated that Musk has a net worth of around $196,2 billion.
Jeff Bezos, the founder of Amazon, is second on this list of billionaires. According to both sources, his total fortune is around $117 billion. Bill Gates, the inventor of Microsoft, and Warren Buffett, the chief executive officer of Berkshire Hathaway, make out the top five on Bloomberg’s list. The creator of Oracle, Larry Ellison, has replaced Bill Gates at the number four slot on the Forbes list. In contrast, Warren Buffett has maintained his position at number five.
Featured Image: Pexels @ Kindel Media
