Elon Musk Takes Back Title as World Richest Man After Making N3.21trn in 8 Hours
- Billionaire Elon Musk has retaken his position as the world's richest man from French billionaire Bernard Arnault
- Musk made N3.2trn ($6.98bn) in just 8 hours of trading, aiding his bounce back to the top of the billionaire list
- Elon Musk has been trailing Bernard Arnault, and at some point, it seemed he would never make a recovery
PAY ATTENTION: Click “See First” under the “Following” tab to see Legit.ng News on your Facebook News Feed!
After losing the title for 82 days, Elon Musk has reclaimed his position as the world's richest man.
He lost the title to French billionaire Bernard Arnault on December 8, 2022, following controversies surrounding his Twitter ownership, which led to a sell-off of Tesla shares and a decline in his wealth.
Despite several attempts to regain the top spot, Musk fell short as Arnault's wealth grew.
Source: Getty Images
However, on Monday, 27 February, the inevitable happened, the share price of his Telsa stocks increased by a whopping 100% after 8 hours of trading.
PAY ATTENTION: Follow us on Instagram - get the most important news directly in your favourite app!
This massive increase helped Musk make $6.98 billion(N3.2trn) after a few hours of trading to push his total net worth to $187 billion, data from the Bloomberg billionaire index shows.
Arnault also increased his wealth
Bernard Arnault is the founder, chairman, and chief executive officer of LVMH Moët Hennessy Louis Vuitton, the world's largest luxury goods company.
Bloomberg reports that after Monday's trading, he is now worth $185 billion, which is $2 billion behind Elon Musk.
Legit.ng predicts Elon musk will be back at the top
Legit.ng had predicted that Musk was poised to reclaim his title this week after Arnault's wealth recorded a whopping loss of $10 billion within one week(Sunday, February 19 to Saturday, February 25, 2023).
The report also showed the renewed interest in Tesla shares would be a key factor.
Here are the top richest men in the world as of Monday, February 27, 2023
- Elon Musk- $187bn
- Bernard Arnault $185bn
- Jeff Bezos $117bn
- Bill Gates $114bn
- Warren Buffett $106bn
Elon Musk turns Twitter office to 'hotel', demands hard work
Meanwhile, Elon Musk's changes in Twitter have continued since he paid more than $44 billion two months ago.
The most recent overhaul is not software but a complete makeover of what Musk believes Twitter's offices should look like.
The makeover transformed the office into a hotel for employees, complete with bedsheets and wardrobes.
Source: Legit.ng
