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Saturday, July 20, 2024

Elon Musk regains his spot as world’s richest person

Tesla and SpaceX CEO's net worth increased by 1.75 percent to $240.7 billion

Elon Musk, CEO of Tesla and SpaceX, has recaptured the title of “the richest person in the world,” surpassing French luxury goods mogul Bernard Arnault, the president of group LVMH.

According to Forbes magazine’s list of the world’s richest people, Musk’s net worth increased by 1.75% as of noon local time to $240.7 billion.

Read more: Elon Musk takes a swipe at Trudeau’s comments on gender ideology

The increase in the valuation of Tesla shares by more than 2.5% had an impact on Musk regaining the title.

The wealth of Arnault, chairman of luxury goods giant LVMH, which owns Louis Vuitton, Christian Dior and Tiffany, fell more than 1% to $234.9 billion. Musk surpassed Arnault and took first place in the list of the richest people in the world.

Jeff Bezos, the founder of Amazon and the richest person in the world for a while, took third place with a fortune of $151.9 billion.

Bezos was followed by Oracle founder and former CEO Larry Ellison with $148.1 billion, Microsoft founder Bill Gates with $120.6 billion and Berkshire Hathaway CEO Warren Buffet with $117.3 billion.

Musk, who bought Twitter for $44 billion last year, changed the company’s logo from “blue bird” to the letter “X” on Sunday and directed the X.com domain name to the site.

Read more: Elon Musk’s Latest Venture: Unveiling His New AI Company