Elon Musk is the wealthiest individual on this planet once more.
Michel Euler | AFP | Getty Images
Elon Musk is the richest individual on this planet once more, in accordance with Bloomberg Billionaires Index’s up to date figures Thursday.
The Tesla CEO noticed his wealth bounce 40.3% this 12 months to $192 billion, after shares of the electrical automotive maker rose about 24% in May, in accordance with Eikon information. Musk owns about 13% of Tesla, in accordance with FactSet information.
Musk was knocked out of first place by LVMH CEO Bernard Arnault in December, after shares of Tesla fell after his $44 billion acquisition of Twitter. Most of Musk’s wealth is tied to Tesla’s inventory.
He can be the CEO of rocket producer SpaceX and owns social media firm Twitter.
Musk left Shanghai on Thursday, after a high-profile two-day go to. While in China, he met with overseas minister Qin Gang and different Chinese officers. The go to, which comes amid simmering U.S.-China tensions, was an indication China is a crucial market to Tesla, analysts have stated.
During the go to, Qin sought to guarantee Musk that China is open to overseas companies and would proceed to supply a pleasant enterprise surroundings to them. Musk additionally reportedly signaled additional growth in China.
How Tesla’s inventory carried out
Shares of Tesla closed 1.38% increased on Wednesday at $203.93.
Tesla’s inventory hit a two-year low in November when its share value dropped to $167.87, the bottom since November 2020. It was partly resulting from a sell-off that accelerated within the wake of Musk’s takeover of Twitter.
LVMH’s Arnault now trails behind Musk because the world’s second richest man at $187 billion, adopted by Jeff Bezos, the billionaire founding father of Amazon, in accordance with Bloomberg information.