Tesla CEO Elon Musk has just reclaimed the world's richest person title from LVMH's Bernard Arnault. Here's what Tesla had to do with it...
Since 6 January, the Tesla stock price has risen by a whopping 85%, going from US$113 to the US$207.63 it is commanding today. It more or less determines the richest people in the world. That’s just ahead of Arnault’s US$185 billion. Elon Musk, CEO of Tesla, SpaceX, Twitter, Neuralink and The Boring Company, had an exceptionally rough year last year. But shares going up and down have more consequences than just the balances of our investment [portfolios](https://www.fool.com.au/ideal-number-stocks/) and super funds. Today, Elon has his crown back.
Elon Musk's wealth has surged on the back of rally in the electric carmaker Tesla's stock.
Elon Musk had lost the top spot last year to Bernard Arnault of luxury conglomerate LVMH.
[chaotic acquisition of Twitter](https://www.hindustantimes.com/business/had-to-save-twitter-from-bankruptcy-elon-musk-claims-bird-app-takeover-was-extremely-challenging-101675665909092.html) and an economic downturn in the tech sector. In 2021, when Musk beat Amazon founder Jeff Bezos in the richest billionaire list, he joked that Bezos will receive a silver medal and a statue of the number two, in a nod to their ongoing rivalry. The low-priced car is expected to be the centrepiece of Musk's 'Master Plan Part Three', which he will offer at an 'Investor Day' on Wednesday. Musk was the second wealthiest person in the world for over two months after being unseated from the first position by Arnault following Tesla shares tanking in December 2022. The Tesla and Twitter chief had lost the top spot last year to Bernard Arnault of luxury brand LVMH, whose current fortune is estimated at $185 billion. Expanding into the mass market is critical to meeting Tesla's goal to increase vehicle deliveries to 20 million by 2030.
Elon Musk is the chief executive of Tesla, known for his various business ventures and technological advancements. Musk is also the chief executive of ...
[Sensex](https://economictimes.indiatimes.com/indices/sensex_30_companies)and [Nifty](https://economictimes.indiatimes.com/indices/nifty_50_companies)Track [latest market news](https://economictimes.indiatimes.com/markets/stocks), [stock tips](https://economictimes.indiatimes.com/markets/stocks/recos)and [expert advice](https://economictimes.indiatimes.com/markets/expert-view)on [ETMarkets](https://economictimes.indiatimes.com/markets). Benchmark bond yields in India climbed to their highest since the first week of November as tightening liquidity and concerns over higher government borrowing in FY24 dented demand for sovereign debt. Two of India’s leading indices fell nearly 0.5% on Monday to extend losses for a seventh straight session. Elon Musk is the chief executive of Tesla, known for his various business ventures and technological advancements. For fastest news alerts on financial markets, investment strategies and stocks alerts, [subscribe to our Telegram feeds](https://t.me/joinchat/J60pKE7SOStsj5sI8nDmHQ).) The wealth figures are updated at the close of every trading day in New York. He further recommended people do the same thing. Recently, Twitter announced its eighth round of layoffs and more than 50 people were fired by Mr Musk-led administration. Musk surpassed France's Bernard Arnault to regain his spot as the world’s richest person. [Lenders to Retain Credit Limits of Adani Enterprises](/epaper/delhicapital/2023/feb/28/et-front/lenders-to-retain-credit-limits-of-adani-enterprises/articleshow/98285027.cms) Meanwhile, it has surged nearly 20% in the last month. The deal closed in October 2022.
The share price of electric vehicle manufacturer Tesla shot up 100% from January ending at $207.63 per share on Monday.
It is worth mentioning that Twitter CEO Elon Musk said on February 15 that he may need the remaining part of this year to stabilize Twitter’s finances before handing it off to a new chief executive officer. Elon Musk lost his crown as the world’s richest person to France’s Bernard Arnault, the chief executive of the luxury products group LVMH. According to Bloomberg Billionaires Index, Musk now has a net worth of approximately $187 billion.
Earlier in December last year, Louis Vuitton CEO Bernard Arnault had taken over the top rank from Tesla and Twitter CEO, and Elon Musk slipped to the second ...
Among the employees who were asked to leave was Elon Musk aide Esther Crawford who was the new Twitter Blue head and also the Chief Executive of Twitter Payments. According to reports, Esther Crawford was terminated because of the lacklustre response to Twitter Blue. This was due to investors’ apprehensions around the Covid effects in China and also Musk’s takeover of Twitter.
Elon Musk is the chief executive of Tesla, known for his various business ventures and technological advancements. Musk is also the chief executive of ...
[Sensex](https://economictimes.indiatimes.com/indices/sensex_30_companies)and [Nifty](https://economictimes.indiatimes.com/indices/nifty_50_companies)Track [latest market news](https://economictimes.indiatimes.com/markets/stocks), [stock tips](https://economictimes.indiatimes.com/markets/stocks/recos)and [expert advice](https://economictimes.indiatimes.com/markets/expert-view)on [ETMarkets](https://economictimes.indiatimes.com/markets). Benchmark bond yields in India climbed to their highest since the first week of November as tightening liquidity and concerns over higher government borrowing in FY24 dented demand for sovereign debt. Two of India’s leading indices fell nearly 0.5% on Monday to extend losses for a seventh straight session. Elon Musk is the chief executive of Tesla, known for his various business ventures and technological advancements. For fastest news alerts on financial markets, investment strategies and stocks alerts, [subscribe to our Telegram feeds](https://t.me/joinchat/J60pKE7SOStsj5sI8nDmHQ).) The wealth figures are updated at the close of every trading day in New York. He further recommended people do the same thing. Recently, Twitter announced its eighth round of layoffs and more than 50 people were fired by Mr Musk-led administration. Musk surpassed France's Bernard Arnault to regain his spot as the world’s richest person. [Lenders to Retain Credit Limits of Adani Enterprises](/epaper/delhicapital/2023/feb/28/et-front/lenders-to-retain-credit-limits-of-adani-enterprises/articleshow/98285027.cms) Meanwhile, it has surged nearly 20% in the last month. The deal closed in October 2022.
Elon Musk has regained his position as the world's richest person after shares in Tesla Inc (NASDAQ:TSLA) jumped 5.5% after hours in the US on Monday....
[SpaceX](https://www.proactiveinvestors.co.uk/PRIVATE-NA:SPACEX/SpaceX/), derives most of his wealth from a 13% stake in Tesla. [Tesla Inc (NASDAQ:TSLA)](https://www.proactiveinvestors.co.uk/NASDAQ:TSLA/Tesla-Inc/) jumped 5.5% after hours in the US on Monday. Tesla's shares have jumped 92% in the year to date after the car maker revealed better-than-expected quarterly results last month, buoyed by record deliveries during the last three months of 2022.
Elon Musk's net worth is now $187.1 billion, pipping Bernard Arnault's $185.3 billion fortune.
They work the hardest and they work the smartest, and we have a lot of respect for the Chinese companies that we are competing against.” Not everyone is so confident that there will be a “softer” landing, however, with staunch Wall Street bear Mike Wilson [predicting stocks are in the “death zone”.](https://fortune.com/2023/02/20/wall-street-morgan-stanley-mike-wilson-warning-over-stock-price-rally/) Musk has admitted a Chinese company is likely to pose the most competition, saying: “We have a lot of respect for the car companies in China. [Twitter.](https://fortune.com/2022/12/14/how-elon-musk-changing-what-appears-on-your-twitter-feed/) These ranged from fears over profitability waining and leadership at the company reinforcing longer-term growth promises outlined as far back as 2020. [Fortune outlining a raft of reasons](https://fortune.com/2023/01/27/elon-musk-tesla-why-stock-price-rally-reasons/) for investors’ renewed confidence in the business.