Elon Musk becomes the richest person in the world once again

Elon Musk, Tesla CEO became the richest person in the world once again on February 28, according to Bloomberg Billionaires Index report. The Tesla CEO has a wealth of $187 billion, leaving behind French business magnate, Bernard Arnault who is at the second position with a total wealth of $185 billion.

The third richest person is Jeff Bezos, Executive Chairman of e-commerce giant, Amazon, with a wealth of $117 billion. The reason for the surge in Musk’s wealth has been attributed to the sharp rise in the price of Tesla stocks that increased to 92 % in 2023, leaving behind the rally in Nasdaq 100 so far in 2023. The Nasdaq 100 Index has jumped 11% until now this year.

So far, Musk’s wealth has risen to $50 billion in 2023 and he currently possesses a 13% stake in Tesla. Until February 27, Bernard Arnault had been at the top position in the Bloomberg Billionaires Index, since October 2022.


Even though Musk was at the top of the index for most part of 2022, Tesla's share began to decline since he acquired the social media platform, Twitter in October 2022. Musk had to sell off billions of dollars of Tesla shares to fund his acquisition of Twitter.

FAQs:

Q1.What is the Bloomberg Billionaires Index ?
The Bloomberg Billionaires Index that was launched in March 2012, is a daily ranking of the world's 500 richest people on the basis of their net worth.

Q2.Elon Musk fired how many employees recently from Twitter ?
Musk sacked about 200 employees of Twitter in February 2023, including data scientists, engineers and product managers.