Elon Musk takes back the scepter of richest man in the world overtaking Bernard Arnault. According to the Bloomberg Billionaires Index, the owner of Tesla is worth, at the close of Wall Street, 187.1 billion dollars more than the 185.3 billion of Arnault.
For Musk, this is an important overtaking after months of Tesla’s difficulties following the acquisition of Twitter. The electric car giant is up 100% from its intraday low on January 6, allowing Musk to become the richest scrooge in the world again. The billionaire had approached 2023 with ‘only’ 137 billion after losing 200 billion in 2022 with the acquisition of Twitter and investor fears about the Tesla estate with Musk distracted by the company chirping and growing competition. The visionary billionaire recently admitted that he will probably need more time to stabilize the social network, perhaps until the end of the year. Only then will the baton be passed on to a new CEO.
Musk has subjected Twitter to a drastic slimming cure, more than halving its staff and exploring alternative avenues to increase revenues. The last few months have been particularly turbulent and Tesla’s shares have suffered with shareholders agitated by the specter of a further sale of shares in the electric car giant by Musk to bear the expenses and costs of the acquisition of the company. Despite fears, Tesla closed the fourth quarter with a profit jump of 59% to 3.7 billion dollars and revenues up 37% to 24.3 billion.
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