Elon Musk Close to Hitting $200 Billion in Net Worth, Earns N2.1trn in 24 Hours as Dangote Makes N21bn

Elon Musk Close to Hitting $200 Billion in Net Worth, Earns N2.1trn in 24 Hours as Dangote Makes N21bn

  • Elon Musk is set to hit $200 billion in net worth after reclaiming the world’s richest man title
  • Musk gained about $4.61 billion on Friday, June 3, 2023, to put him $8 billion away from Bernard Arnault
  • Aliko Dangote, Nigeria, and Africa’s richest man, gained about N21 billion on Friday, June 2, 2023

The world’s richest man, Elon Musk, is $1 billion away from hitting $200 billion in net worth, which he lost last year after Bernard Arnault, the LVMH owner, dethroned him.

Musk reclaimed the top spot last week after ousting Arnault, who had occupied the position since December 2020.

Dangote, Elon Musk
Tesla CEO Elon Musk and Aliko Dangote, Chairman of the Dangote Group Credit: NurPhotos
Source: Getty Images

Tesla stocks roar to propel Musk's net worth

Musk’s latest ranking is thanks to the surging stock of Tesla, which gained $6.1 on Friday, June 3, 2023, to trade at $213.97, a 3.11% increase.

Read also

Dangote loses N66.2bn, drops in billionaire ranking as Zuckerberg makes first 10 richest men in the world

PAY ATTENTION: Join Legit.ng Telegram channel! Never miss important updates!

Last year, Elon Musk broke the Guinness Book of World Records as the first man in history to lose $200 billion.

Analysts believe that the Tesla CEO looks set to hit that mark again as Tesla shares, his primary source of wealth, rebounded.

Musk, who just rounded off a trip in China, where he had talks with authorities in Beijing about the future of the electric car company.

Dangote's wealth soars to $21,1 billion

However, on Friday, Nigeria’s Aliko Dangote saw his net worth rebound by $45.6 million, about N21 billion.

Dangote gained two spots on the Bloomberg Billionaire Index to rank 74th wealthiest man globally.

The move saw Dangote climb two steps from the 76th position he occupied on Friday, June 2, 2023.

The share price of Dangote Cement traded at N290 per share and witnessed optimistic investors’ sentiment, which saw its trade volume surge on the floors of the Nigerian Stock Exchange.

Read also

Zenith Bank chairman Jim Ovia pockets N13.6bn in 8 hours from Tinubu's inauguration speech, buys more shares

Analysts say that Dangote, whose 650,000-capacity refinery was commissioned by former President Muhammadu Buhari on May 22, 2023, might climb to be to 20th richest man in the world when the refinery becomes fully operational.

The billionaire had said that his refinery would begin to ship products by July ending or early August 2023.

Elon Musk reclaims world's richest man title, Dangote now ranked 72nd wealthiest in the world

Legit.ng reported that Tesla CEO Elon Musk had taken back the world's richest man title from the French luxury merchant Bernard Arnault.

Musk, who earned over $1 billion in the last 24 hours, dethroned the Frenchman after occupying the second spot for over six months.

The Twitter CEO saw the shares of Tesla roar to trade at about $203.93 on Wednesday, May 31, 2023, to shore up his net worth to about $192 billion, while Arnault moved to the second position at $187 billion, having lost $5 billion in the last 24 hours.

Source: Legit.ng

Online view pixel