Tesla boss Elon Musk has once again ascended as the world’s wealthiest man, with his net worth reaching $192 billion, Bloomberg Billionaires Index shows.
Interestingly, the famous business tycoon made this accomplishment when he was about to conclude his two-day trip to China, where he met with several influential officials and suppliers.
Below are the top 10 wealthiest people in the world, per Bloomberg:
As you can see, Elon Musk’s $192 billion net worth surpassed LVMG Moet Hennessy Louis Vuitton chairman Bernard Arnault’s net worth of $187 billion.
How Tesla affects CEO Musk’s wealth and vice versa?
As EV-a2z previously reported, Elon Musk’s wealth suffered a significant drop in 2022.
Notably, Musk’s personal investment in his car company Tesla accounts for a sizeable chunk of his total wealth. That said, it is natural for his net worth to be adversely affected when TSLA stock was under pressure due to COVID-19 issues and his Twitter acquisition.
All these factors reduced Musk’s net worth in December 2022, pushing him behind Arnault as the world’s wealthiest person.
Fortunately, TSLA shares have recovered this year due to the company’s significant price cuts, which boosted sales globally. In effect, it pushed TSLA shares to increase along with its CEO’s net worth.
Bloomberg estimates that Musk’s net worth has increased by $55.3 billion so far this year. Meanwhile, TSLA shares have increased by a staggering 88.65% year to date.
See Also:
- Tesla CEO Elon Musk’s wealth reportedly dropped to under $200 billion
- Elon Musk sells another $3.6 billion in TSLA stock to finance Twitter
- Tesla investors demand stronger CEO commitment in an open letter
- Tesla stock increases YTD market cap to $585B
- Tesla Stocks up 74% from the lowest point in 24 days
Even more, CEO Musk’s net worth will likely increase further this year as Tesla has been demonstrating strong performance so far.
However, it is worth noting that his current $192 billion net worth is still a long way from his 2021 record of $300 billion.
