Tesla CEO Elon Musk appears to be well on his way toward recapturing the title of the world’s wealthiest person by net price. Musk’s net price has seen a steep rise amidst TSLA stock’s recent rally over the past month.
A take a look at the Bloomberg Billionaires Index shows that Elon Musk’s net price is now listed at $186 billion, just $3 billion shy of the world’s richest person, Bernard Arnault, whose net price is currently listed at $189 billion. Arnault is the chief executive of LVMH Moet Hennessy Louis Vuitton, the world’s largest maker of luxury goods.
Elon Musk’s net price has surged $45 billion this 12 months. This is usually because Musk’s net price is tied heavily to TSLA shares, which rose for the eighth consecutive day on Thursday. It was also the steep 65% drop in Tesla stock last 12 months that brought Elon Musk’s net price down.
As Tesla shares dropped in 2022, Elon Musk, who was then listed because the world’s wealthiest person by net price, was overtaken by Arnault. This happened in December, as Tesla investors called out Musk’s behavior on Twitter and shutdowns in Gigafactory Shanghai fueled demand concerns.
Following its 65% drop in 2022, Tesla shares saw a notable boost after the corporate lowered the costs of its vehicles, including best-selling cars just like the Model 3 sedan and the Model Y crossover. Tesla also reported better-than-expected quarterly results last month, and in the course of the Q4 and FY 2022 earnings call, Elon Musk and other executives of the electrical vehicle maker highlighted that the demand for the corporate’s products is incredibly healthy.
Tesla may soon see other tailwinds, especially with the upcoming Investor Day event on March 1. As per CEO Elon Musk on Twitter, Investor Day would come with discussions on Master Plan Part 3, which is concentrated on Tesla growing to extreme scale. Master Plan Part 3 can even include sections dedicated to Elon Musk’s other ventures, resembling SpaceX and The Boring Company.
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