Elon Musk officially accelerates ‘extremely hard’ to regain the richest position in the world, the gap with the top 1 is only 3 billion USD

Elon Musk was once the richest billionaire in the world with a huge fortune of $340 billion. However, the shock of losing up to $ 200 billion in the past year has caused him to drop in rank and help brand king Bernard Arnault win this position.

Billionaire Elon Musk, CEO of Twitter and Tesla is really getting back on the track to regain his position as the richest in the world after Tesla shares showed encouraging signs in recent trading sessions.

According to the latest information, this year, Elon Musk has earned about $ 45 billion and narrowed the gap significantly with the French luxury goods king Bernard Arnault. Previously, in December 2022, billionaire Bernard successfully dethroned Elon Musk to become the richest person in the world. He owns the LVMH empire, which gathers the most expensive brands such as Dior, Louis Vuitton, Fendi, ..

This happened when investors lost confidence in Tesla. They fear that the “negligence” in the management of Elon Musk could make the electric car company a “stepchild”. Because, at this time, Musk just completed the acquisition of Twitter for $ 44 billion.

However, at the beginning of the year, Tesla stock has had good signs. The company’s shares have risen eight times in a row. Tesla also reported better-than-expected quarterly results last month. During the 2022 earnings conference call, Elon Musk and other Tesla executives also emphasized that demand for the company’s products is increasing markedly.

Since then, Elon Musk’s net worth has increased to more than $ 186 billion – a prospect that is only $ 3 billion lower than the $ 189 billion of LVMH boss Bernard. This is considered an acceleration signal so that Musk can soon regain his throne. At the same time, this also shows that investors have gradually regained confidence in the billionaire’s leadership ability.

Tesla also posted better-than-expected quarterly results last month. Elon Musk, who sold a large number of shares worth billions of dollars to make a deal to buy Twitter, has now confirmed he will not sell more shares of the company for the next two years.

At the same time, the billionaire said that he will soon announce the third version of the “master plan” for Tesla. In this plan, he will outline “a road map towards a completely sustainable energy future for the Earth”. Previous versions of the plan, announced in 2006 and 2016, focused on spreading electric cars, self-driving technology and home energy storage.

Besides, this week, billionaire Elon Musk also announced that the social network Twitter is on the verge of breaking even after cutting thousands of employees last year. “Twitter is still facing various difficulties, but it is now trending to break even if we continue to maintain the current moves,” Elon Musk shared. At the same time, he also believes that he has “saved Twitter” from the possibility of bankruptcy.

As of February 11, billionaire Bernard Arnault is still the richest person in the world with a net worth of $189 billion. Elon Musk ranks second with a net worth of $186 billion, according to data from the Bloomberg Billionaires Index.

According to statistics, billionaire Elon Musk’s stake in electric car company Tesla is the largest contributor to his total net worth. In addition, billionaire Elon Musk’s fortune is also made up of other items, including shares in aerospace company SpaceX and social media company Twitter.

Reference: Teslarati