After shares of the electric vehicle manufacturer increased by roughly 24% in May, according to Eikon data, Tesla CEO Elon Musk is once again the richest person in the world.
Elon Musk is the richest
According to the Bloomberg Billionaires Index, Musk’s wealth has increased by 40.3% year to date to $192 billion.
LVMH CEO Bernard Arnault had previously beaten Musk to the top spot after Tesla stock dropped following his $44 billion purchase of Twitter. Tesla’s stock is the main source of Musk’s riches.
According to Thursday’s revised data from the Bloomberg Billionaires Index, Elon Musk is once again the richest person on earth.
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Following a roughly 24% increase in Tesla’s stock price in May, according to Eikon statistics, the CEO of the electric car manufacturer saw his wealth increase by 40.3% this year to $192 billion. According to data from FactSet, Musk controls roughly 13% of Tesla.
In December, after Tesla’s stock dropped following his $44 billion purchase of Twitter, Musk was dethroned by LVMH CEO Bernard Arnault. Tesla’s stock is the main source of Musk’s riches.
He also owns Twitter and serves as CEO of the rocket manufacturer SpaceX.
Musk’s high-profile two-day tour to Shanghai came to an end on Thursday. He met with the foreign minister Qin Gang and other Chinese officials while in China. According to observers, the visit, which took place amid boiling U.S.-China tensions, was evidence that Tesla saw China as a key market.
Throughout the trip, Qin tried to reassure Musk that China is welcoming to international companies and will keep providing a welcoming business climate. Additionally, Musk is said to have hinted to potential growth in China.
On Wednesday, Tesla stock increased 1.38% to settle at $203.93.
In November, the share price of Tesla fell to $167.87, the lowest level since November 2020, marking a two-year low for the company. It was partly caused by a sell-off that picked up speed after Musk acquired control of Twitter.
According to Bloomberg data, Jeff Bezos, the billionaire founder of Amazon, is now ahead of LVMH’s Arnault as the second richest man in the world, trailing Musk by $187 billion.