Elon Musk is once again the world's richest person

Elon Musk has reclaimed the title of the world's richest person as Tesla's stock prices have risen, a Bloomberg report reveals. Musk was unseated as the world's richest person in December 2022 when Tesla shares plunged, and Louis Vuitton CEO Bernard Arnault succeeded him. However, around two months later, Musk regained the throne.

Elon Musk is once again the world's richest person

Musk's net worth now stands at $187 billion. At the beginning of the year, the net worth of the owner of Twitter was $137 billion. Elon Musk has been the world's richest person since September 2021. Before him, Amazon founder Jeff Bezos took the spot.

Earlier this year, reports surfaced that Guinness World Records had recognized Musk for breaking the world record for the most money lost in history. A press release from the organization confirmed the same, stating that "Elon Musk has officially broken the world record for the largest loss of personal fortune in history."

The Guinness World Records press release also stated that the record was previously held by Japanese tech investor Masayoshi Son, who had lost $56 billion. "Although the exact figure is almost impossible to ascertain, Musk's total losses far surpass the previous record of $58.6 billion, set by Japanese tech investor Masayoshi Son in 2000," he said.

Elon Musk's Tesla

We all know that much of Musk's fortune is tied up in Tesla stock. The businessman was one of the first investors in the company and eventually went on to own the most significant shares in the car company. The electric car brand was founded as Tesla Motors in July 2003 by Martin Eberhard and Marc Tarpenning. In 2004, Musk became the company's largest shareholder by investing $6.5 million. He then assumed his role as the company's chief executive officer and product architect in 2008.

Musk had sold large chunks of his Tesla shares in 2022, first to buy Twitter and then perhaps to deal with the losses from his new acquisition. Musk sold a combined $15.4 billion of Tesla shares in April and August 2022. At the time, he said there were "further sales planned." However, in November 2022, Musk sold another 19.5 million Tesla shares worth about $4 billion. "Billionaire entrepreneur and Twitter's new owner Elon Musk sells 19.5 million Tesla shares, a SEC filing shows," a Reuters tweet said.

Tesla shares began to plummet in 2022 and hit their most significant annual drop the same year. In such turbulent times, Musk had reportedly emailed all Tesla employees, telling them not to worry about "stock market craziness."