Elon Musk, a billionaire and currently the second-richest person in the world, is rapidly approaching regaining the title of the world’s richest person, which he lost to Bernard Arnault last year. This is due to the fact that the wealth of the Tesla CEO has been rising since the beginning of this year as a result of the more than 85% increase in shares of Tesla Inc. in less than a month.
Elon Musk’s wealth has increased by over $46 billion or 34% year-to-date (YTD), with his total net worth reaching $183 billion as of February 17, 2023, according to the Bloomberg Billionaires Index. The Bloomberg Billionaires Index compiles a daily list of the richest persons in the world. At the conclusion of each trading day in New York, the numbers are updated.
Tesla, a company that offers electric vehicles and residential solar batteries, is led by Elon Musk. In addition, Musk is the CEO of SpaceX, a rocket maker contracted by NASA to resupply the space station, and he owns stock in Twitter.
Nevertheless, given last week’s disclosure that Musk donated 11.6 million Tesla shares to unspecified charity causes between August and December, it might take Musk a little longer to surpass the French luxury goods tycoon. The admission comes as signs of rising demand for Tesla’s electric cars (EVs) and the company’s better-than-expected earnings have allowed Musk to close the $10 billion deficit to Arnault.
According to a regulatory filing from February 2023, Musk owns around 13% of Tesla. In addition, he has around 304 million exercisable stock options left over from his 2018 salary.
According to Bloomberg data, SpaceX is valued using a January 2023 investment round that put the company’s valuation at around $137 billion. According to a document made with the Federal Communications Commission in December 2022, Musk owns 42% of the privately owned corporation through a trust.
Musk made a $44 billion purchase offer for Twitter Inc. in April 2022. In October 2022, the acquisition was completed. According to external investors who were reported in May 2022, he is estimated to own around 79% of the business. The price stated by investor Fidelity Inc. in a January 2023 filing is used to alter its worth.
