Elon Musk is world's richest person again after 100% Tesla stock surge

With a net worth of $187 billion, Elon Musk is once again the richest person in the world, according to the Bloomberg Billionaires Index. The leaders of Tesla and Twitter had fallen behind luxury firm LVMH's Bernard Arnault, whose net worth is currently estimated to be $185 billion, last year. Prior to Arnault dethroning Musk as the second-richest person in the world after the fall of Tesla shares in December 2022, Musk held that position for more than two months. The stock of the electric vehicle manufacturer, however, has increased 100% since January, ending at $207.63 on Monday. Improved investor demand and customer interest in discounted Tesla automobiles have contributed to this increase. Recent price reductions by Tesla were made in response to increased competition and a sluggish economy. For years, Musk has teased the world with his vision of a cheap electric vehicle. In order to reach Tesla's target of 20 million car deliveries by 2030, mass market expansion is essential. At the centre of Musk's "Master Plan Part Three," which he will present at a "Investor Day" on Wednesday, is likely to be the inexpensive vehicle. Earlier, a slowdown in the IT industry and Musk's haphazard purchase of Twitter contributed to Tesla's quick slide. Musk also owns the distinction of being the first individual to ever experience a $200 billion wealth loss when his $340 billion net worth fell to $137 billion between November 2021 and December 2022. Musk defeated Amazon founder Jeff Bezos on the richest person list in 2021.As a dig at their on-going competition, he quipped that Bezos will get a silver medal and a statue of number two on the billionaire list. The top three positions on the list of the richest people have alternated between Musk, Arnault, and Bezos; the creator of Blue Origin is presently ranked third with a net worth of $117 billion.