How Elon Musk became world’s richest man after losing $200b

How Elon Musk became world’s richest man after losing $200b

Tuesday, February 28, 2023 3:05 pm

Elon Musk

               By Nehru Odeh
Elon Musk has become the world’s richest man again per Bloomberg’s tally. Recall that Musk holds a record for the biggest fortune ever lost in history.
However, what is so inspiring about this feat is that he reclaimed the title which he relinquished in December 2022 when he lost  $200 billion in wealth — after his net worth slid from $340 billion in November, 2021 to $137 billion in December 2022
The Tesla CEO was unseated from the top spot by Bernard Arnault, CEO of French luxury brand LVMH (LVMHF), in December, 2022, making Musk Number 2 on the list for more than two months.
According to the CNN, as of Monday, however, Bloomberg reports that a rally in Tesla stock has lifted Musk back to the top of its real-time Billionaires Index.
Musk’s net worth was $187.1 billion as of Monday after markets closed, according to Bloomberg, just topping the $185.3 billion fortune of Arnault.
While Tesla (TSLA) stock declined steeply last year amid Musk’s problem-plagued acquisition of Twitter and a broader market downturn in tech, shares for the electric vehicle maker have since surged in 2023.

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