According to Bloomberg’s list of the richest billionaires, Elon Musk regained his position as the richest person in the world this week. However, this was short-lived as his fortune fell by about $2 billion on Thursday to $184 billion, meaning he fell to second place again. You can see the updated list here.
Musk was dethroned by Bernard Arnault, the CEO of French luxury brand LVMH, in December of last year, resulting in Musk falling to the second position on the list for more than two months. However, Bloomberg reported on Monday that the surge in Tesla’s stock had pushed Musk back to the top of its real-time Billionaires Index.
As of Monday, Musk’s net worth was estimated to be around $187.1 billion, slightly higher than Arnault’s $185.3 billion fortune. In 2022, Tesla’s stock had plummeted, partly due to Musk’s troubled acquisition of Twitter and a broader market downturn in tech. However, shares in the electric vehicle manufacturer have risen sharply in 2023, leading to Musk’s resurgence.
Despite being the wealthiest person in the world, Musk has the most significant wealth loss in history. In late 2022, his net worth dropped from roughly $340 billion in November to $137 billion in December, making him the first person to lose $200 billion in wealth. Musk faced these setbacks after the Securities and Exchange Commission (SEC) initiated an investigation into Tesla, which led to a drop in Tesla’s share price.
Fortunately, Musk’s net worth has rebounded, making him the wealthiest person in the world once again, thanks to a surge in Tesla’s stock. However, Musk’s fortune is not secure, and his record for losing the most significant wealth in history serves as a reminder of the unpredictable nature of the stock market.