Elon Musk has regained his position as the wealthiest individual in the world.
Forbes and the Bloomberg Billionaires Index both verified on Wednesday that Musk had recovered his position as the world’s wealthiest person. While LVMH CEO Bernard Arnault was in charge for a few hours earlier in the day, Elon Musk was temporarily demoted to chairman.
JUST IN – LVMH CEO Bernard Arnault & family awarded the title of richest person in the world, Elon Musk second: Forbes pic.twitter.com/4rWn3aCvJ3
— Insider Paper (@TheInsiderPaper) December 7, 2022
The total fortune of Arnault and his immediate family is estimated to be $185,4 billion. Louis Vuitton, Sephora, Tiffany & Co., and Mot & Chandon are just a few of the 70 fashion and cosmetics labels managed by the LVMH conglomerate.
Musk, whose fortune is estimated by Bloomberg to be approximately $240 billion, hasn’t always been at the top of the heap. Since the beginning of 2020, however, his wealth has increased substantially. His net worth in 2020 was around $25 billion. His current fortune is ten times what it was back then.
Musk has said,“I don’t have any offshore accounts, I don’t have any tax shelters,” “I basically have Tesla and SpaceX stock, everything is extremely transparent.”
Musk has purchased Twitter. His acquisition has been credited with potentially pushing the social media giant’s valuation to $1 trillion.
The preceding is a summary of an article that originally appeared on Oann.
