Last year Musk was unseated as the richest man in the world. This came about after the value of his shares in Tesla had a sharp drop at the end of 2022. Bernard Arnault, CEO of luxury goods group LVMH then held the title, that is until now.
Musk is again at the top as the richest man in the world, it was again the value of his shares in Tesla. The stock is up about 100 a share from the beginning of January when it was around 108. As of the end of February, it is bouncing around 208.
Musk’s net worth was at its highest at $336 billion in November of 2021. His network has been largely tied to the value of Tesla. He did take a hit to his finances last year when he purchased Twitter for $44 billion. Bloomberg took $10 billion off its value at the completion of purchasing the social media giant.
Tesla was once worth more than a trillion but after an almost 65% drop in its market value in 2022, losing $400 billion from the company’s market capitalization.
With a harsh start to 2023, it seems things may have turned a corner for Tesla and subsequently Musk and pro Musk company investors. This is not financial advice however.
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