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Elon Musk surpasses the tycoon of Louis Vuitton, regains the "throne" of the richest man in the world

Politiko 2023-02-28 10:22:17

Elon Musk surpasses the tycoon of Louis Vuitton, regains the "throne"

Elon Musk has regained the title of the richest man in the world. According to the "Bloomerg Billionaires Index", the owner of Tesla has passed the boss of the prestigious Louis Vuitton brand, Bernard Arnaut.

Tesla shares closed up 5.5% on Wall Street, pushing Musk's fortune to $187.1 billion. Instead, Arnault is worth $185.3 billion.

Musk had come close to the throne previously with 137 billion after losing 200 billion in 2022 with the acquisition of Twitter and investor fears for Tesla's fortunes with Musk confused by the company's 'tweeting' and growing competition.

The past few months have been particularly turbulent and Tesla shares have suffered with shareholders worried by the specter of a further sale of shares in the electric car giant by Musk to cover the expenses and costs of the acquisition of the social company.

Despite the fears, Tesla ended the fourth quarter with a 59% profit jump to $3.7 billion and revenue rose 37% to $24.3 billion.

Elon Musk surpasses the tycoon of Louis Vuitton, regains the "throne"
Bernard Arnault, the French tycoon of "Louis Vitton"

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