#Socialites, get into this! Elon Musk has reclaimed his title of being the richest person in the world again. As his shares for Tesla rise, the CEO reclaimed his seat after being kicked from the top spot by Bernard Arnault, the CEO of French luxury brand LVMH (LVMHF), in December of last year.
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Hey Big Head! Elon Musk Reclaims Title Of Richest Person In The World Again As Tesla Shares Rise
At the time, Musk was booted to No. 2 riches person in the world, where he sat for more than two months.
However, as of Monday (February 27), Musk made his return to the top spot after Bloomberg reported that a Tesla stock had risen, thus lifting Musk back to his No. 1 spot on the publications real-time Billionaires Index.
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After the markets closed on Monday (Feb. 27), Musk’s net worth was then listed at about $187.1 billion. Meanwhile, Arnault’s fortune was listed at $185.3 billion.
In addition to once again holding the title of being the richest person in the world, Musk also holds the record of having the biggest fortune ever lost by anyone in history.
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This happened towards the end of 2022, when Musk became the first person to ever lose $200 billion in wealth. Musk’s net worth tremendously dropped from some $340 billion in November 2021 to about $137 billion in December 2022.
This was all a result of a huge drop in Tesla shares. It was previously reported that much of Musk’s wealth was tied up in Tesla stock, which plunged some 65% last year.
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After a series of customer rebates at the company — all in an attempt to increase customer interest in Teslas — scared investors began to pull out, sending the stock plunging about 37% in the last month of the year.
But, that is all a thing of the past, as shares for the electric vehicle producer have now shot back up in the first quarter of 2023.
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