Tesla CEO Elon Musk has regained the world’s richest person title as the share price of electric vehicle manufacturer Tesla shot up 100% from January ending at $207.63 per share on Monday. This surge in the company’s share price is driven by improved investor demand and consumer interest. According to Bloomberg Billionaires Index, Musk now has a net worth of approximately $187 billion. Elon Musk lost his crown as the world’s richest person to France’s Bernard Arnault, the chief executive of the luxury products group LVMH.

With Musk assuming the first position, here’s the list of the world’s top five wealthiest people and their net worth according to Bloomberg Billionaires Index:

  1. Elon Musk Musk - $187 Billion
  2. Bernard Arnault - 185 Billion
  3. Jeff Bezos - $117 Billion
  4. Bill Gates - $114 Billion
  5. Warren Buffet - $106 Billion

 

Last year, South Africa-born Musk acquired the microblogging site Twitter for $44 billion. The 51-year-old billionaire is currently the Twitter chief and also the chief executive of SpaceX, a rocket manufacturer. 

The year 2023 has so far been better for Musk after a tumultuous last year as he lost nearly $200 billion in wealth from the period November 2021 to December 2022.

After the tumult of last year, in which Musk purchased Twitter after some uncertainty about whether he'd follow through on the deal, and a lawsuit at the time by Tesla shareholders, Musk has had a better 2023 so far.

The share price of the electric car company lost over half of its market value since Musk first made a bid to buy Twitter in April last year. According to historical data from Yahoo Finance Tesla shares hit a low of $108.10 on January 3, 2023.

It is worth mentioning that Twitter CEO Elon Musk said on February 15 that he may need the remaining part of this year to stabilize Twitter’s finances before handing it off to a new chief executive officer. With this, the looks likely that Musk is willing to hand over the social media company to a new person by the end of 2023. 

Tesla shares have gained 92.07% on year-to-date (YTD), while the company’s shares have plummeted 28.44% in the last one year.