Tesla co-founder and Twitter CEO Elon Musk has proven once again that he is the richest man in the world as tech magnate reclaims the title following his current total asset of $187.1 billion. Bloomberg Billionaires Index, a system that analyzes profiles of wealthy personalities, corroborated the data.
In December 2022, the CEO of French luxury brand Louis Vuitton Bernard Arnault reportedly beat Musk in the ranking. A sudden fall in Tesla’s share price was the suspected culprit, with over $200 billion reported loss between November and December. However, the latest surge in the company’s stock prices last month reportedly saw a 25% increase, pushing Musk into the top spot again.
Elon Musk Beats French CEO Bernard Arnault In Bloomberg Billionaires Index’s Top Spot
As the chief executive of several high-profile companies such as SpaceX, Twitter, Tesla, and The Boring Company, Musk has earned $187.1 billion, overtaking Arnault’s net worth of $182 billion.
Last year, Musk purchased Twitter for $44 billion and the deal was followed by several controversies. A lawsuit has also been reportedly filed by Tesla shareholders, adding more fuel to the fire. In order to reduce costs, the newly-installed CEO of Twitter laid off a large number of employees.
A report from an advertising company via Digit News said that the social media app has seen an immense reduction in advertisements. Big-time companies started pulling out their products from the app, bringing the company’s revenue downhill. Musk took certain measures to reduce the expenses, including forcing staff from its Singapore (Asia-Pacific) headquarters to leave.
In 2021, Musk beat Jeff Bezos, executive chairman of Amazon, and became the wealthiest man on Earth at the time. It is no longer a surprise anymore that Musk, Bezos, and Arnault have merely been swapping places at the top spot of the Bloomberg Billionaires Index.
Last week, Musk revealed that he unblocked everyone on Twitter and said that “negative feedback is a good thing.” The business tycoon recommends the public to do the same.
Fans React To Elon Musk Becoming Richest Man On Earth
Elon Musk has faced several challenges over the course of his entrepreneurial career. Despite the controversies and financial setbacks last year, including breaking the Guinness World Record for the biggest loss of fortune, the corporate mogul is back on his game and is starting the year right.
The public has incessantly criticized Musk for his leadership skills and more often than not, the butt of jokes on social media. The latest news brought a whole slew of reactions from fans. Check out their tweets below:
The Tesla tycoon is a testament that anything can happen in the blink of an eye. As Musk once tweeted, “Long-term fundamentals are extremely strong. Short-term market madness is unpredictable.” And just like that, he is once again the wealthiest man on Earth.
Source: Bloomberg Billionaires Index, Digit News
