SURPASSING France's Bernard Arnault, American billionaire Elon Musk regain the title of being the world's richest person with a net worth of USD 187.1 billion once again, according to Bloomberg Billionaires Index.
The CEO of the French luxury brand Louis Vuitton, Bernard Arnault, ousted the CEO of Tesla and Twitter in December last year. For more than two months, Musk was in the second position. Bloomberg reported that Musk has returned to the top of the Billionaires Index following a rise in Tesla stock.
As the market closed on Monday, it is estimated that Musk with a net worth of about USD 187.1 billion, exceeded Arnault's fortune of USD 185.3 billion, Bloomberg Billionaires Index reported.
The net worth of Tesla's CEO, fell by over USD 200 billion between November and December last year. According to media reports, it was regarded as one of the largest losses of wealth in recent history.
The unexpected drop was brought on by the sharp decline in the value of Tesla stock at the time. The company had its worst year, losing USD 700 billion because of investor apprehensions regarding the effects of Covid-19 in China and Musk's contentious takeover of Twitter.
The billionaire took over Twitter on October 27. since then he had made a flurry of decisions whether it laying off employees or charging USD 8 monthly to users who wanted a blue tick verification badge.
After taking control of the microblogging site, Musk sacked dozens of employees, impacting the livelihood of people. In the last round of laid-off, it is reported that Elon Musk fired even more employees. In early November, Twitter laid off about 3,700 employees in a cost-cutting measure by Musk, who acquired the company for USD 44 billion.
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However, Musk announced that all the employees who got laid off will get severance packages which are more than enough. "Everyone exited was offered 3 months of severance, which is 50% more than legally required," Musk said in a tweet.