Musk returns as world’s richest man; net worth of richest persons up $1.5 trillion

New Delhi, Dec 29 (IANS) Tesla and SpaceX CEO Elon Musk has returned as the world’s richest man, recapturing the title from French luxury tycoon Bernard Arnault.

Musk earned an additional $95.4 billion through Thursday’s close, boosted by the success of Tesla and SpaceX, after losing $138 billion in 2022, according to the Bloomberg Billionaires Index.

His net worth now exceeds Arnault’s by more than $50 billion after LVMH Moet Hennessy Louis Vuitton SE shares fell due to a global slowdown in demand for luxury products.

Amazon founder Jeff Bezos added more than $70 billion to his wallet this year and is now neck-and-neck with Arnault for second place, while Meta Founder and CEO Mark Zuckerberg’s fortune increased by more than $80 billion.

According to the Index, the collective net worth of the 500 richest persons increased by $1.5 trillion in 2023, entirely recovering from the $1.4 trillion lost the previous year.

The wealth of tech billionaires increased by 48 per cent, or $658 billion, because of the enormous buzz around artificial intelligence.

–IANS

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