Elon Musk, the creator of Tesla and owner of Twitter, has cemented his status as the richest person in the world after seeing his net worth soar to $250.4 billion.
The new statistic shows an increase of $11 billion over the previous five days.
Based on information from the Forbes Billionaire Index, Musk’s net worth was previously estimated at $239 billion before rising by an astounding $107 billion in just seven months.
The 52-year-old South African-born business billionaire derives the majority of his income from his holdings in Tesla and Twitter, which he now owns and acquired for $44 billion in April 2022.
A few months ago, Musk momentarily lost the title of richest billionaire to Bernard Arnault before returning it with a net worth of $192 billion.
According to a regulatory filing made in April 2023, Elon Musk owns roughly 23% of Tesla, according to Forbes.
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Musk, who owns a staggering 412.6 million shares of Tesla and is its largest shareholder, saw shares soar to $281.38 when the market closed, from an initial share price of around $277, according to market watch.
After a successful investment round in May 2022, Musk’s SpaceX, which was formed in 2002, now has a valuation of $127 billion, a phenomenal fourfold gain in just three years.
Looking back, the stock price of Tesla decreased significantly after Musk purchased Twitter, with shares plummeting to a two-year low in November of $167.87.
The owner of Twitter recently discussed the platform’s declining revenue, revealing that it is currently experiencing.