Elon Musk, the entrepreneurial powerhouse behind companies like the social media platform X and electric car manufacturer Tesla, has reclaimed his spot as the world’s richest person, according to Bloomberg Billionaires Index. With his wealth skyrocketing to a staggering $232 billion in 2023, Musk’s financial success reflects a $92 billion increase just over the past year.
This remarkable growth in Musk’s fortune is largely attributed to his significant 12.95% stake in Tesla. The company, renowned for its electric vehicles, has seen a phenomenal year, ending with a market value of $248 billion – a 130% increase from the previous year. This growth has solidified Tesla’s position as the world’s most expensive carmaker.
Despite the fluctuating fortunes of the microblogging website X (formerly known as Twitter), Musk’s overall wealth has continued to climb. The Bloomberg Billionaires Index highlights the surge in the collective wealth of the world’s 500 richest individuals, which has increased by over $1.5 trillion this year. This marks a stark contrast to the $1.4 trillion decrease observed last year.
Close on Musk’s heels is Bernard Arnault, the head of French luxury goods giant LVMH. Arnault’s wealth has grown by $126 million, bringing his total to $179 billion and securing him the title of the world’s second-richest person.
In third place is Jeff Bezos, the founder of e-commerce giant Amazon, who has seen a $1.4 billion dip in his fortune, bringing his total wealth to $177 billion. Following Bezos is Bill Gates, the Microsoft mogul, whose wealth increased by $217 million in 2023, totaling $141 billion.
This reshuffling of the world’s wealthiest individuals highlights the dynamic nature of global wealth and the significant impact that business performance can have on personal fortunes.