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

Photo: 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,

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

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