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Odisha News, Odisha Breaking News, Odisha Latest News || Ommcom News
Home Business

Musk Returns As World’s Richest Man; Net Worth Of Richest Persons Up $1.5 Trillion

OMMCOM NEWS by OMMCOM NEWS
December 29, 2023
in Business

New Delhi:  Tesla and SpaceX CEO 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.

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.

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.

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 per cent, or $658 billion, because of the enormous buzz around artificial intelligence.

(IANS)

Tags: Elon MuskSpaceX
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