According to the most recent Bloomberg Billionaires Index data published on Thursday, Elon Musk has reclaimed his title as the world’s wealthiest man. This year, the CEO of Tesla saw a phenomenal 40.3% increase in his fortune, bringing it to an astounding $192 billion. According to statistics from Eikon, Tesla’s stock increased by 24% in May, which is what caused this rise. According to FactSet statistics, Musk has a roughly 13% interest in Tesla.
Following a drop in Tesla’s stock price as a result of his $44 billion purchase of Twitter, Musk briefly ceded the top rank to LVMH CEO Bernard Arnault in December. Musk is, nevertheless, heavily impacted by Tesla’s success since the bulk of his fortune is intimately connected to the company’s shares. Musk is not only the CEO of Tesla but also the owner of Twitter and the rocket manufacturer SpaceX.
Musk just returned from a well-publicized two-day trip to Shanghai, China, where he met with Qin Gang, the foreign minister. Given the continuing hostilities between the US and China, this visit is significant because it highlights how important China is as a market for Tesla. Analysts have remarked that, as Musk was assured of during his conversations with Qin, China’s economic climate is still welcoming and open to international corporations. According to reports, Musk has plans for further growth in China.
The closing price of Tesla’s shares on Wednesday was $203.93, a gain of 1.38%. In November, Tesla’s shares fell to a two-year low of $167.87, partly as a result of a sell-off that followed Musk’s purchase of Twitter. Musk’s fortune has now increased significantly as a result of the company’s revival.
With a net worth of $187 billion, Bernard Arnault of LVMH is now the second-richest person in the world after Elon Musk’s comeback. According to statistics from Bloomberg, Jeff Bezos, the billionaire founder of Amazon, is ranked third.