Written By Shubham Verma
Elon Musk once again world's richest person with net worth of $232 billion
The wealth of tech billionaires, including Elon Musk, increased by 48 percent, or $658 billion, because of the enormous buzz around artificial intelligence.
Published By: Shubham Verma | Published: Dec 29, 2023, 10:54 PM (IST)
Tesla and SpaceX chief executive officer Elon Musk has returned as the world’s richest man, recapturing the title from French luxury tycoon Bernard Arnault. Musk earned an additional $95.4 billion through Thursday’s close, boosted by the success of Tesla and SpaceX, after losing $138 billion in 2022, according to the Bloomberg Billionaires Index. 
Also Read: Elon Musk’s xAI Fires 500 Employees? Report Suggests Major Layoffs
His net worth now exceeds Arnault’s by more than $50 billion after LVMH Moet Hennessy Louis Vuitton SE shares fell due to a global slowdown in demand for luxury products. As per the Index, Musk’s net worth is now estimated to be $232 billion. Also Read: Elon Musk Shows How Grok Imagine Can Turn Your Odd Ideas Into Shareable Talking Videos
Amazon founder Jeff Bezos added more than $70 billion to his wallet this year and is now neck-and-neck with Arnault for second place, while Meta Founder and CEO Mark Zuckerberg’s fortune increased by more than $80 billion. Also Read: Elon Musk's X Launches XChat For All Users With Security Features And New Tools
Arnault is the second richest in the world with a net worth of $179 billion, followed by Bezos ($178 billion), Microsoft co-founder Bill Gates ($141 billion), ex-Microsoft CEO Steve Ballmer ($131 billion), and Meta CEO Mark Zuckerberg ($130 billion). According to the Index, the collective net worth of the 500 richest persons increased by $1.5 trillion in 2023, entirely recovering from the $1.4 trillion lost the previous year.
The wealth of tech billionaires increased by 48 percent, or $658 billion, because of the enormous buzz around artificial intelligence. Musk is also now the sole owner of the social media company, X Corp, which was previously known as Twitter. Although the company is not breaking even, according to the company’s chief executive officer Linda Yaccarino, the top management believes the platform is on the right path to becoming profitable soon.
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— Written with inputs from IANS
