Elon Musk Becomes World's Richest Person Once Again
According to Bloomberg Billionaires Index, Elon Musk has reclaimed his title of the world's wealthiest person.
Bernard Arnault (CEO of Louis Vuitton), dethroned the Tesla and Twitter CEO in December 2022.
According to estimates, Musk's net worth as of Monday after the markets close was $187.1 billion. This is more than Mr Arnault's $185.3 billion fortune.
The 71% increase in Tesla's stock prices this year has helped Mr Musk grow his fortune. It's almost 100 percent higher than its intraday low of January 6
The Tesla chief's net worth dropped by more than $200 billion last November and December, making it one of the most significant wealth losses in recent history.
The Twitter CEO is cutting costs at his newly acquired business, which he has spent $44 billion on. In November, he tweeted that the microblogging site was losing almost $4 million per day.
Twitter announced its 8th round of layoffs, and Mr Musk's administration fired more than 50 employees. This is after Musk, a billionaire, cut more than 3,700 jobs at Twitter (or half the workforce), in an effort to reduce costs.