After a brief stint at number 2, the billionaire retakes the top spot, according to the Bloomberg Billionaires Index.
Business Desk : dhakamirror.com
SpaceX and Tesla CEO Elon Musk is yet again the world’s richest person. He has reclaimed the title of the richest person in the world, per Bloomberg’s tally.
Mr Musk, 51, was worth $187 billion as markets closed on Monday, nudging aside Bernard Arnault, whose family own the world’s leading luxury group, LVMH. Bloomberg valued Mr Arnault’s fortune at $185 billion.
Mr Musk’s return to the top of the rich list comes as Tesla stock has rebounded from its January 6 lows, with shares in the electric car giant doubling in value since then.
At Number 3 on the list is Amazon founder Jeff Bezos, with an estimated fortune of $117 billion.
Earlier this year, that third-place spot had been held by India’s Gautam Adani. He has now slipped all the way to 32nd position as the market value of the Adani group of companies plummets following a scathing report by US short-seller Hindenburg Research.
Mr Musk’s fortune remains far below a peak of more than $300 billion in late 2021. Since then, he funded the $44 billion buyout of Twitter by selling about $20 billion in Tesla shares.
Tesla’s drop in value in 2022 came as tech stocks suffered amid increasing interest rates. But since January, investors have piled back into Tesla even as Mr Musk continues to be distracted by running Twitter.
For now at least, Tesla stock buyers also appear to be shrugging off any number of controversies, including one on Monday in which Mr Musk backed the creator of the Dilbert comicstrip amid a racism row. Tesla stock closed at $207.63, up more than five per cent for the day.