The CEO of Tesla, Elon Musk, now has a net worth of about $233 billion, surpassing Bernard Arnault, CEO of LVMH, who has a net worth of $202 billion, according to an updated Bloomberg Billionaires Index report.
Since Arnault first won the top spot in March of this year, Elon and Arnault have been locked in a tough competition for the top spot for a number of months.
The majority of Elon Musk’s wealth, which is believed to be worth $107 billion, comes from his electric car company, Tesla, according to a breakdown of his holdings.
The 51-year-old billionaire’s personal holdings in Space Exploration Technologies Corporation are currently valued at $48.9 billion, while his stake in The Boring Company adds another $3.3 billion.
With Twitter now considered a private asset with a value of $8.80 billion, Musk’s recent acquisition of the social media service has increased his net worth even more.
Remember how Musk tried to buy Twitter Inc. for a whopping $44 billion in April 2022? The agreement was finally reached in October 2022 after several rounds of discussions.
According to data provided by outside investors, the CEO of Twitter owns around 79% of the company’s equity as of May 2022.
Tesla stock was trading at $206.54 at the time of this article, up 1.81%.
Meanwhile, Elon Musk’s formidable adversary, Bernard Arnault, is reported to be worth $202 billion. Arnault owns about half of LVMH, the largest producer of luxury goods in the world with 2022 sales of €79.2 billion ($83.4 billion), as chairman of LVMH Moet Hennessy Louis Vuitton.
When Elon’s net worth dropped by $2 billion, he originally handed Arnault the title of the richest man in the world.
He recently acquired momentum after Arnault’s shares significantly declined due to a drop in LVMH, Musk reportedly made a comeback with a staggering $192 billion in net worth.
Even though Tesla stock hit a two-year low in November 2022, reaching $167.87, its lowest point since November 2020, Musk’s Tesla shares have continued to rise despite the ups and downs, especially after his purchase of Twitter.
