Elon Musk has overtaken LVMH CEO Bernard Arnault as the richest person in the world again after the a $55.5 billion increase in value to his electric supercar company Tesla, which was prompted in part by naming a new Twitter CEO.
Elon Musk is the richest person in the world again.
The Twitter owner’s net worth went up by $55.5 billion since the beginning of the year to knock LVMH CEO Bernard Arnault off the top spot once more.
According to Bloomberg, the 51-year-old billionaire’s bump in wealth is believed to be down to the increase of value of his electric supercar company Tesla.
The 74-year-old fashion executive fell from the top spot after his pile dropped by $24.5 billion to $187 billion and is immediately proceeded by Amazon founder Jeff Bezos and Microsoft creator Bill Gates in third and fourth respectively.
Bernard beat out Elon back in December last year after the parent company of luxury brands like Louis Vuttion, Dior and Moet + Chandon amid concerns about the SpaceX CEO’s management of the microblogging site that he purchased for $44 billion – which was finalised in October after months of legal wrangling with the previous administration – after he sacked more than half of the workforce and allowed controversial and high-profile banned users to return like President Donald Trump, Andrew TAte and Kanye West.
However, Tesla’s performance has led to an increase in the share price following investors feeling more confident and Elon naming a new CEO to run the social media giant, Linda Yaccarino and plans to turn it into an “everything app” like WeChat.
He tweeted: “I am excited to welcome Linda Yaccarino as the new CEO of Twitter.
“[She] will focus primarily on business operations, while I focus on product design new technology.
“Looking forward to working with Linda to transform this platform into X, the everything app.”
Elon Musk is the richest person in the world again
