Business Standard

Elon Musk rides on Tesla to become world's richest person, again

Net worth was at $187.1 billion as of market close on Monday, just topping the $185.3-billion fortune of Arnault

Photo: Bloomberg
Premium

Photo: Bloomberg

Bloomberg
Elon Musk has regained his spot as the world’s richest person, after briefly losing the title to France’s Bernard Arnault.

Musk’s wealth has been buoyed by a nearly 70 per cent surge in Tesla’s stock price this year. It’s up about 100 per cent from its intraday low on January 6 as investors pile back into bets on riskier growth stocks amid signs of economic strength and a slower pace of Federal Reserve interest-rate increases. 

The company has also benefited from more demand for its electric vehicles after cutting prices on models.  

Tesla shares rose 5.5 per cent to $207.63,

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Feb 28 2023 | 11:18 PM IST

Explore News

To read the full story, subscribe to BS Premium now, at just Rs 249/ month.

Key stories on business-standard.com are available only to BS Premium subscribers.

Register to read more on Business-Standard.com