In the ever-shifting landscape of billionaire rankings, Elon Musk has reclaimed his position as the world’s second richest person, surpassing Amazon titan Jeff Bezos. This latest development comes on the heels of a surge in Musk’s wealth, fueled by a significant increase in stock value, according to a report by Quartz.
Musk’s net worth now stands at a staggering $205.6 billion, propelled by a $14.5 billion surge in stocks. Bezos, who briefly claimed the second spot in March after selling millions of Amazon shares, has been relegated to third place with a net worth of $198.9 billion, following a more modest $1.3 billion increase.
Despite Musk’s triumph over Bezos, both billionaires still trail behind Bernard Arnault, chairman of LVMH, whose fortune stands at $210.1 billion. With just a $5 billion gap separating Musk from the top spot, the race for the title of the world’s richest person remains fiercely competitive.
Musk’s wealth is predominantly derived from his holdings in Tesla, where he owns a substantial 20.5% of shares. Additionally, his diverse portfolio includes stakes in six other companies, including SpaceX, Neuralink, and X, contributing to his formidable financial empire.
The surge in Tesla’s stock follows Musk’s successful visit to China, where he met with Premier Li Qiang and navigated key regulatory obstacles hindering the company’s self-driving software. Reports also indicate that Tesla has forged a strategic partnership with Chinese internet giant Baidu to leverage its mapping license for data collection on Chinese roads, further bolstering the company’s prospects in the world’s largest automotive market.
