FinanceTech News

Elon Musk Races Toward the Title of World’s Richest Person Once Again!

As technology enthusiasts, we’re excited to share that Tesla CEO, Elon Musk, is nearing the title of the world’s richest person, thanks to Tesla’s soaring stock prices. The stock prices have surged 76% year-to-date, boosted by growing demand for electric vehicles and a broader tech sector rally.

Currently, Elon Musk’s net worth is estimated at $187 billion as of February 14th. While Bernard Arnault, the French businessman and founder of LVMH Moët Hennessy Louis Vuitton, is at $190 billion. However, Forbes’ real-time billionaire tracker puts Elon Musk ‘s net worth at $197.9 billion and Arnault’s at $216.8 billion.

Musk was briefly overtaken by Arnault in December. But now, he’s just a few billion dollars away from regaining his title as the world’s richest person. In 2021, Elon Musk ‘s net worth peaked at $300 billion.

Musk owns an estimated 74% of Twitter. He is the biggest individual shareholder in Tesla and co-founded SpaceX, which has a valuation of $127 billion as of May 2022.

Although Tesla’s stock prices had slumped by 65% in 2021, a strong Q4 earnings report, combined with investor confidence and expected interest-rate cuts, has contributed to a significant increase in Tesla’s stock prices this year.

As a team, we’re keeping a close eye on these developments in the tech and automotive sectors. We are eagerly awaiting the outcome of this fascinating race.


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