Connect with us

World News

Elon Musk richest person in 2024

Published

on

In a recent development, Elon Musk, the owner of the renowned American car manufacturing company Tesla, has once again become the wealthiest person in the world.

Elon Musk

According to Bloomberg Billionaires Index, the total wealth of the world’s 500 richest individuals increased by more than $1.5 trillion this year, compared to a decrease of $1.4 trillion last year.

Tech tycoon Elon Musk saw a significant surge in his wealth, reaching up to $232 billion with a $92 billion increase in the past year, as reported by Bloomberg.

The increase in Elon Musk’s wealth is attributed to the success of his company Tesla (an automotive company), where his 12.95% stake has contributed significantly. The company has experienced a remarkable business performance this year, ending the year with a market cap of $248 billion, which is 130% higher than the previous year, making it the world’s most valuable automaker.

Despite the challenges faced by Elon Musk’s other ventures, such as the microblogging website X (formerly Twitter), his overall wealth has continued to grow.

Advertisement

On the global scale, Bernard Arnault, the owner of the luxury goods manufacturing company LVMH from France, witnessed a $126 billion increase in his assets. With a total financial worth of $179 billion, he now stands as the second richest person in the world after Elon Musk.

Meanwhile, Jeff Bezos, the founder of Amazon, experienced a decrease in his assets by $1.4 billion, landing him in the third position with a total wealth of $177 billion.

Securing the fourth spot on the list is Bill Gates, the co-founder of Microsoft, who saw a $217 million increase in his assets in 2023. His overall wealth now stands at $141 billion

In a noteworthy development, Elon Musk, the proprietor of the illustrious American car manufacturing company Tesla, has reclaimed the coveted title of the world’s wealthiest individual. As per the Bloomberg Billionaires Index, the cumulative wealth of the globe’s 500 richest individuals has seen a remarkable uptick, surpassing a staggering $1.5 trillion increase this year, in stark contrast to the $1.4 trillion reduction witnessed in the preceding year.

Musk’s resurgence to the top of the wealth rankings is particularly attributed to the triumphs of Tesla, where his ownership of a 12.95% stake played a pivotal role. The company’s extraordinary business performance throughout the year propelled its market capitalization to $248 billion, representing a remarkable 130% surge compared to the previous year. This solidifies Tesla’s position as the world’s most valuable automaker. Elon Musk’s remarkable financial ascent underscores the dynamic nature of global wealth distribution and the influence of innovative ventures on personal fortunes.

Advertisement
Continue Reading
Advertisement
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

powered by The Asia Today./ © Zox News Theme.Theme by MVP Themes