Elon Musk Reclaims World’s Richest Man Title From Bernard Arnault: Forbes Billionaires List 2023

Elon Musk is the richest person in the world as of June 9, 2023, according to Forbes

<div class="paragraphs"><p>Elon Musk</p></div>
Elon Musk

Tesla CEO Elon Musk on Thursday became the richest man on earth taking the title away from LVMH chairman Bernard Arnault. The rise in the position was due to the shares of Musk’s electric vehicle giant surging to their highest level this year.

Top 10 World Richest People As On June 9

Elon Musk is the richest person in the world as of June 9, 2023, according to Forbes. His net worth is estimated to be $220 billion, which is $5 billion more than the second-richest person, Bernard Arnault who is at number 2 with the net worth of $215.4 billion. Here's the top 10 list according to Forbes

How Elon Musk topped the chart again

In Thursday, June 8's trading, Tesla stock showed a remarkable rally of 4.6%, reaching $235 per share and extending its winning streak to 10 consecutive days. This put Tesla on track to achieve its highest closing share price since October 6, 2022.

After experiencing a decline and reaching a two-year low in early January, Tesla shares have rebounded impressively, recording a gain of nearly 115%. This performance ranks as the third-largest return among all companies in the S&P 500 index.

As a result, Elon Musk has once again reclaimed the title of the richest person in the world according to Forbes' calculations. With Forbes estimating Musk's net worth at $220.2 billion, it surpasses Bernard Arnault's by $4.2 billion as of the market close.

Why Elon Musk's Lost Title Of World's Richest Person

Elon Musk had previously lost the title of the world's richest person to Arnault in December 2022. At that time, Musk's net worth had experienced a significant decline of over $100 billion in 2022. In December 2022, Musk's net worth was recorded at $168.5 billion, falling short of Arnault's $172.9 billion. In May 2023, Musk's Twitter suffered financially with the current valuation of Twitter being approximately $15 billion, representing a decline of 33 percent since its acquisition. However, Musk has regained the top position again in June 2023.