Elon Musk reclaims world richest person title again

Published February 28th, 2023 - 07:01 GMT
Elon Musk
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Elon Musk reclaims world richest person title again

ALBAWABA - Tesla and Twitter CEO Elon Musk has reclaimed the title of the world's richest person following a several-week slide, the Bloomberg Billionaires Index reported Tuesday.

Musk was declared the globe's richest person as of Feb. 28, reclaiming the rank from France’s luxury brand Louis Vuitton’s owner Bernard Arnault, who rose to number one last December, according to the index. 

A surge in Tesla's share prices Monday following a slump in January allowed the head of the electric carmaker to climb back to the top spot, according to Arabian Business.

Elon Musk’s worth now stands at $187 billion, according to the index, exceeding Arnault's $185 billion personal fortune.

The Bloomberg Billionaires Index is a daily ranking of the world's richest people.

It said that Jeff Bezos, the founder, executive chairman, and former president and CEO of Amazon, came third with a net worth of $117 billion.

American billionaire philanthropist and Microsoft co-founder Bill Gates came fourth with a net worth of $114 billion. 

Between November 2021 and December 2022, Musk’s wealth dipped by $203 billion to $137 billion due to a fall in Tesla shares. That made Musk the first person ever to lose such a big chunk of his fortune at a time he had taken over Twitter, according to the Hindu.

It said that at the time, Tesla lost almost $700 billion on Wall Street due to investor apprehension.

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