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Elon Musk has Reclaimed the Title of the Richest Person in the World

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Elon Musk has Reclaimed the Title of the Richest Person in the World

(CTN News) – With a 90% increase in Tesla Inc.’s stock price this year, Elon Musk has regained his position as the world’s richest person, according to the Bloomberg Billionaires Index (YTD). In 2023, Musk had $137 billion in wealth.

Tesla’s stock price surge boosts Elon Musk’s net worth to $187 billion

According to the index, Elon Musk, CEO of Tesla, has a net worth of $187 billion as of 28 February 2023, up about $50 billion, or 36%, since 2022.

This is more than the $185 billion personal fortune of Bernard Arnault, the French tycoon behind luxury-goods powerhouse LVMH.

The Nasdaq 100 Index, heavily weighted towards technology, is up about 10% in 2023, but Tesla’s gains have far outpaced those.

Daily, Bloomberg releases its Billionaires Index, a list of the world’s wealthiest individuals. The wealth data is refreshed at the end of each New York trading day.

Elon Musk, 51, is the CEO of Tesla, a company that manufactures and sells electric vehicles and home solar batteries.

Additionally, to being the CEO of Twitter, Musk is also the CEO of SpaceX, a rocket manufacturer that NASA has contracted to resupply the space station.

A regulatory filing from February of 2023 shows that Musk owns roughly 13% of Tesla. As part of his 2018 salary, he was awarded stock options worth approximately 304 million.

Elon Musk plans to stabilize Twitter’s finances before stepping down as CEO.

To acquire Twitter, Inc., Elon Musk bid $44 billion in April 2022. The transaction was finalized in October 2022. According to information from outside investors made public in May of 2022, he is expected to possess approximately 79% of the corporation by that time.

Price adjustments are made according to the information provided by investor Fidelity Inc. in their January 2023 SEC filing. This month, he stated that he may need till the end of the year to stabilise Twitter’s finances before passing off to a new CEO.

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