Elon Musk emerges as the world’s richest individual

Tesla CEO Elon Musk has emerged as the wealthiest person in the world in 2023, replacing LVMH Chairman Bernard Arnault.

According to the Bloomberg Billionaires Index released on Friday, the richest person in 2023 is Tesla CEO Elon Musk, whose net worth is roughly 232 billion U.S. dollars. Musk’s Tesla share prices rose 101% year-over-year, topping the list in terms of asset growth value at 95.4 billion dollars).

LVMH Chairman Bernard Arnault, who was named the richest person in 2022, has stepped down to second place, being impacted by reduced demand for luxury products and declining stock prices. According to the Bloomberg index, the LVMH chairman’s asset work amounts to 179 billion dollars, followed by Amazon founder Jeff Bezos, Microsoft founder Bill Gates, and former Microsoft CEO Steve Ballmer from third to fifth places.

According to Bloomberg, the net asset worth of the richest 500 people saw a net growth of 1.5 trillion dollars in 2023 year-over-year. Despite the war, inflation, and economic slowdown, this was fueled by the rise of stock prices by tech companies due to the emergence of AI and other high technologies.


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