Elon Musk, who fell to second richest in December 2022, regains his spot at No. 1 thanks to surging shares of electric car maker Tesla.
The CEO of Tesla and rocket firm SpaceX and the owner of Twitter became the world’s richest person Wednesday, overtaking French luxury goods tycoon Bernard Arnault, who had been the world’s No. 1 richest since December 2022. Musk is now worth an estimated $215.9A stunning surge in the price of Tesla stock this year lifted
–who owns 23% of the electric car company, including options–back to the top spot. Tesla shares have risen more than 110% since the beginning of 2023, helping Musk add nearly $70Musk recently finished a short visit to China–his first to the country since before the Covid-19 pandemic–and, including the foreign minister and the minister of industry and information technology.
“Playing nice in the sandbox in Beijing is something the Street is laser focused on to make sure there are no disruptions to Tesla's expansion and tentacles within China for the coming years as this remains the #1 EV market in the world,” Wedbush analyst Dan Ives said in a note.for the fourth quarter of 2022, news that sent the stock higher. For the first quarter of 2023, the carmaker had $2.5 billion in profits, down from $3.7 billion in the fourth quarter of 2022.
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