Friday, June 14, 2024
CEOWORLD magazine - Latest - Money and Wealth - Elon Musk is Once Again World’s Richest Person

Money and Wealth

Elon Musk is Once Again World’s Richest Person

Elon Musk

Tesla CEO Elon Musk finally seems to reclaim the position of the world’s wealthiest individual, surpassing LVMH chief Bernard Arnault. The increase in Musk’s net worth was driven by a nearly 2% rise in Tesla shares, where Musk holds a 13% stake. Following Musk and Arnault, Amazon founder Jeff Bezos ranks third.

The title of the world’s richest person has been a revolving door among Musk, Arnault, and Bezos in recent months. Over the past three months, Amazon shares have risen by over 3%, while Tesla and LVMH shares have decreased by 1.4% and 8%, respectively. Musk’s wealth is predominantly linked to his stakes in private ventures like SpaceX and his AI company, xAI. His net worth may see a significant boost if Tesla shareholders approve the reinstatement of his $50 billion compensation package next week. This package would increase Musk’s equity in Tesla from 13% to 22%. The vote comes amidst Musk’s appeal against a Delaware judge’s decision that nullified the payout in January due to concerns about potential conflicts of interest and Musk’s influence over the board.


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CEOWORLD magazine - Latest - Money and Wealth - Elon Musk is Once Again World’s Richest Person

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Anna Siampani
Anna Siampani, Lifestyle Editorial Director at the CEOWORLD magazine, working with reporters covering the luxury travel, high-end fashion, hospitality, and lifestyle industries. As lifestyle editorial director, Anna oversees CEOWORLD magazine's daily digital editorial operations, editing and writing features, essays, news, and other content, in addition to editing the magazine's cover stories, astrology pages, and more. You can reach Anna by mail at