Tesla CEO Elon Musk regains title of richest person: beats rival Jeff Bezos | Financial

Tesla CEO Elon Musk regains title of richest person: beats rival Jeff Bezos |  Financial

According to the Bloomberg Daily Rich List, Musk rose to number one with a net worth of $194 billion. This month in particular, his fortune skyrocketed, buoyed by well-received Tesla results and a growing interest in the climate. Overall, Musk added $24 billion this year.

Despite the lack of chips in the auto sector, Musk did well with his company, Tesla. Doubling sales at the electric car maker in the second quarter and strong profitability prompted investors to enter stocks. In addition, US President Biden’s climate policy plays a role in the enthusiastic sentiment surrounding the US auto company.

High earners

At the beginning of this year, Musk briefly took the lead among high-income earners. He was soon overtaken by Jeff Bezos, the lead shareholder and founder of Amazon. Bezos, who had more than $200 billion in wealth last month, has seen his fortune drop sharply to $194 billion in recent weeks. According to Bloomberg, he is currently in second place.

In particular, the sharp decline in Amazon shares after poor results affected the assets of Bezos, who handed him the CEO position last month, in recent weeks. On an annual basis, his fortune increased by only $3 billion. As lockdowns ease in many countries, consumers’ willingness to order products online has waned.

Bernard Arnault, major shareholder and CEO of LVMH, ranks third apart with a net worth of $174 billion. His fortune has increased by about $60 billion this year, buoyed by a strong appetite for investors to join the French luxury group, which is especially popular in China.

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