Elon Musk Becomes World's Richest Person Once Again

According to Bloomberg Billionaires Index, Elon Musk has reclaimed his title of the world's wealthiest person.

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Bernard Arnault (CEO of Louis Vuitton), dethroned the Tesla and Twitter CEO in December 2022.

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According to estimates, Musk's net worth as of Monday after the markets close was $187.1 billion. This is more than Mr Arnault's $185.3 billion fortune.

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The 71% increase in Tesla's stock prices this year has helped Mr Musk grow his fortune. It's almost 100 percent higher than its intraday low of January 6

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The Tesla chief's net worth dropped by more than $200 billion last November and December, making it one of the most significant wealth losses in recent history.

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The Twitter CEO is cutting costs at his newly acquired business, which he has spent $44 billion on. In November, he tweeted that the microblogging site was losing almost $4 million per day.

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Twitter announced its 8th round of layoffs, and Mr Musk's administration fired more than 50 employees. This is after Musk, a billionaire, cut more than 3,700 jobs at Twitter (or half the workforce), in an effort to reduce costs.

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