Elon Musk takes back title as the ‘world’s richest person’, makes $6.98bn in 8 hours

Elon Musk has regained his position as the richest person in the world after making a whopping $6.98 billion in eight hours of trading.

He lost the title to French billionaire Bernard Arnault on December 8, 2022, following controversies surrounding his Twitter ownership, which led to a sell-off of Tesla shares and a decline in his wealth.

Musk has made several attempts to regain the top spot, but fell short as Arnault’s wealth grew.

Read also:Elon Musk to grant Twitter API for free to ‘good’ bots

However, on Monday, 27 February, the inevitable happened, the share price of his Telsa stocks increased by a whopping 100% after 8 hours of trading.

This massive increase helped Musk make $6.98 to push his total net worth to $187 billion, data from the Bloomberg billionaire index shows.

Bernard Arnault, the founder, chairman, and chief executive officer of LVMH Moët Hennessy Louis Vuitton, the world’s largest luxury goods company, also made $3.69 billion on Monday.

Arnault is now worth $185 billion, $2 billion behind Elon Musk.

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