Elon Musk is once again the richest person on the planet
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Featured Image Credit: dpa picture alliance / Alamy. Oleksandr Perepelytsia / Alamy.
Elon Musk had a rough year in 2022.
The tech billionaire bought Twitter and saw his net worth drop by staggering amounts due to a variety of factors.
He was knocked off the throne of being the richest person on the planet as a result of these rocky financial issues.
While his wealth was still staggeringly high, it was a tough period for Musk.
He entered 2023 with a net worth of USD$137 billion (AUD$203 billion, £76.6 billion) becoming the first person ever in history to lose USD$200 billion (AUD$111.8 billion, £296.4 billion) from one's own fortune.
That's got to hurt.
But, much like Humpty Dumpty from atop a wall, he's put himself back together again.
Bloomberg reports the South African billionaire now has an eye-watering net worth of USD$187.1 billion (AUD$277.3 billion, £155.1 billion), besting Moët Hennessy Louis Vuitton's CEO Bernard Arnault, by a cool five billion.
Not bad when he's the world's leading man in luxury goods, either.
According to the Bloomberg Billionaires Index, Arnault unseated Musk last year as Tesla shares took a dip in December.
Stocks hit a low of USD$108.10 (AUD$160.26, £89.63) on January 3, 2023.
Tesla's stock closed at USD$207.63 (AUD$307.76, £172.15) on Monday (February 27), so it seems 2023 is looking up for Musk.
The once-again world's richest man also saw a hefty financial boon when Tesla saw a 70 per cent surge in stock for the first quarter of 2023, and is up about 100 per cent from its low-point on January 6, according to Bloomberg.
Investors are now eyeing to gamble on Musk once again.
Stocks are growing, the Federal Bank is looking healthier and the Federal Reserve is doing its thing thanks to decelerated growth as far as interest rates are concerned.
Tesla also saw a rise in interest in electric cars when they lowered the price point for several models.
Great for the energy efficient driver and great for Musk, with shares for the car firm rising 5.5 per cent to boot.
As of 4pm on February 27 in New York, Tesla shares hit that juicy USD$207.63 mark, and Musk saw his net worth boosted to where it is now.
Not bad. Not bad at all.
The 51-year-old has proved once again that he's not one to be doubted.
Topics: News, Elon Musk, Technology, Money, World News
