The world’s richest man, Elon Musk’s net worth has grown by a whopping $107 billion in the 7 months.
This is according to data culled from Bloomberg’s billionaire index by Nairametrics. In a break down showing how Elon musk’s net worth records such high feat.
Nairametrics reviewed the value of his net worth on January 11, 2023 which stood at $132 billion. The Tesla founder, Elon who is now worth $239 billion saw his net worth grow by $107 billion.
Although, the Twitter landlord, Elon Musk had seen his net worth drop by over $3 billion as of today, the 51 year old still maintains his title as the no.1 billionaire in the world.
Musk has been the topic of news headlines after he briefly lost his richest billionaire power to Bernard Arnault, a few months back. Elon regained his throne at the time with $192 billion.
Despite the fluctuations, Musk’s Tesla shares have continued to gain momentum, particularly following his acquisition of Twitter, even though Tesla stock hit a two-year low in November 2022, reaching $167.87, its lowest point since November 2020.
Bloomberg reported in his profile that, Musk owns about 13% of Tesla, according to an April 2023 regulatory filing. He also holds about 304 million exercisable stock options from his 2018 compensation package.
Backstory
Last month, Nairametrics reported that the Tesla founder and CEO of Twitter, Elon Musk lost about $10 billion which led to a drop in his net worth
According to the Forbes billionaire index, on Tuesday, June 27, 2023, the Tesla CEO, Elon Musk lost a whopping $10.1 billion, hence his net worth fell to $224.2 billion.
At the time, Tesla stocks plummeted by 6.06%. This was the aftermath effect of prominent global investment bank, Goldman Sachs, downgrading Tesla’s rating on the electric vehicle (EV) manufacturer.
The bank cited concerns over the company’s profit margins in the near term and the current valuation of its stock, which had experienced significant gains since the beginning of the year. This adjustment in rating reflects the bank’s apprehension about the company’s ability to sustain its impressive performance.
However, it seems Elon has bounced back from that set back and has continued to forge ahead in his quest for financial dominance. He became a billionaire at age 41 years old and was first named the richest man in the world in September 2021. Before then Amazon’s Jeff Bezos had held the title.