Tesla boss Elon Musk used to be the richest person in the world as his business empire is spread over different sectors. He is among the few rich people who increased their worth despite the deadly Covid virus ringing dangerous bills. During the Covid, Tesla shares saw a big jump which increased his wealth.
However, he started seeing issues after he bought the Twitter platform. He had spent a big amount to buy the social media giant. As he spent a big portion of his wealth on the platform, he started losing his position on the list of the richest people in the world.
Elon Musk overcame all the issues and bounced back. He is again ranked as the world’s richest person. Bloomberg said that Elon Musk is the richest person as the shares of Bernard Arnault saw a dip by 2.6 percent. Since April, the market value of luxury goods company LVMH decreased by 10 percent which resulted in Bernard Arnault falling to second position. He lost billions of dollars while Elon Musk is seeing a rise in his wealth.
Elon Musk’s wealth went for a toss when the investors and shareholders in Tesla had doubts about what he would do with Twitter after buying it. As a result, Elon Musk started seeing his wealth going down and losing his position on the list of rich people.
But now the Tesla Chief Executive Officer is back in his position as the luxury goods company’s owner lost billions of dollars with the business slowing down. This helped Elon Musk in return and he was ranked the world’s richest person yet again.