Elon Musk ended the day as the world’s richest person on June 8, 2023, for the first time in six months. His net worth reached $220.2 billion, according to Forbes’ calculations, $4.2 billion more than Bernard Arnault, the CEO of LVMH Moët Hennessy – Louis Vuitton.
Musk’s wealth surge was driven by a rally in Tesla stock, which rose 13.1% on Tuesday. The electric car maker’s shares are up more than 50% this year, boosted by strong demand for its vehicles and optimism about its growth prospects.
Musk’s wealth has been on a roller coaster ride in recent months. He briefly became the world’s richest person in January, but Elon Musk net worth then plummeted as Tesla’s stock price tumbled. He lost the title of world’s richest person to Arnault in October.
Musk’s wealth is now more than double what it was a year ago. He is the only person in the world with a net worth of more than $200 billion.
Musk’s wealth is largely due to his ownership of Tesla and SpaceX. He owns about 20% of Tesla and about 50% of SpaceX.
Tesla is the world’s most valuable automaker, with a market capitalization of more than $1 trillion. SpaceX is a private rocket company that is developing reusable rockets that could revolutionize the space industry.
Musk is a controversial figure. He has been criticized for his erratic behaviour and his tweets, which have sometimes been seen as offensive or misleading.
However, Musk is also a visionary entrepreneur who has helped to revolutionize the automotive and space industries. He is likely to remain one of the world’s richest people for many years to come.