UPDATED 6:49 PM PT – Wednesday, December 7, 2022
Elon Musk is once again the world’s richest person.
According to both Forbes and Bloomberg Billionaires Index, it was confirmed that Musk regained his title as the world’s richest person on Wednesday. Musk briefly lost his title for a few hours to CEO of LVMH, Bernard Arnault earlier in the day.
Arnault and his family have a personal combined wealth of $185.4 billion. The LVMH empire oversees 70 fashion and cosmetic brands including Louis Vuitton, Sephora, Tiffany & Co. and Moët & Chandon.
Musk, whose wealth is estimated by Bloomberg to be around $240 billion, hasn’t always been at the top of the heap. His funds have significantly grown since early 2020. In 2020 he was worth just over $25 billion. At that time, his wealth was just 1/10th of where it stands today.
“I don’t have any offshore accounts, I don’t have any tax shelters,” Musk said. “I basically have Tesla and SpaceX stock, everything is extremely transparent.”
Musk is now the owner of Twitter. Some say his purchase could help the social media company be worth $1 trillion one day.