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Elon Musk Reclaims World Richest as Net Worth Soar to $250.4 Billion

ELON MUSK

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.

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