Elon Musk may be having buyer's remorse eight months after purchasing Twitter, according to an estimate by fidelity Twitter is now worth $15 billion. Just *** third of the $44 billion that Musk paid for it. About 25 billion of that came from Musk himself. But he also used $13 billion of debt which Twitter is still paying off under Elon Musk. Twitter has gone from *** 7500 person company now to just 2000 has faced multiple lawsuits and has undergone *** slew of technical difficulties. But Musk remains optimistic back in March, he told staff that he sees *** clear but difficult path of *** $250 billion valuation.
Elon Musk is once again the world’s wealthiest person
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Updated: 3:44 PM EDT Jun 1, 2023
Elon Musk has reclaimed his position as the world’s wealthiest person.Related video above: Twitter worth one-third of what Elon Musk paid for itThat’s according to a Bloomberg Billionaires tally, which estimated the Tesla (TSLA) CEO’s net worth is now about $192 billion, compared to LVMH (LVMHF) CEO Bernard Arnault’s $187 billion.The two centibillionaires, a term used to refer to people with fortunes of more than $100 billion, have been neck-and-neck for the top spot for months. This week, Arnault’s wealth slid after a drop in LVMH’s stock Wednesday, according to Bloomberg calculations.Arnault surpassed Musk in December, as his wealth climbed due to a boom in luxury goods sales that helped drive up LVMH’s stock price. LVMH, one of the world’s biggest conglomerates, is home to brands including Louis Vuitton, Dior and Celine.Musk, meanwhile, has enjoyed a meteoric rise up the world’s rich lists in recent years as his fortunes are directly linked to those of Tesla, the electric automaker. His biggest asset is the company’s stock, of which he owns about 13%, according to Bloomberg.Outside of Tesla, Musk is also CEO of SpaceX, the space exploration firm, and the owner of social network Twitter (TWTR).LVMH’s shares are up 19.7% this year, while Tesla’s have risen 65.6% in the year to date.
Elon Musk has reclaimed his position as the world’s wealthiest person.
Related video above: Twitter worth one-third of what Elon Musk paid for it
That’s according to a Bloomberg Billionaires tally, which estimated the Tesla (TSLA) CEO’s net worth is now about $192 billion, compared to LVMH (LVMHF) CEO Bernard Arnault’s $187 billion.
The two centibillionaires, a term used to refer to people with fortunes of more than $100 billion, have been neck-and-neck for the top spot for months.
This week, Arnault’s wealth slid after a drop in LVMH’s stock Wednesday, according to Bloomberg calculations.
Arnault surpassed Musk in December, as his wealth climbed due to a boom in luxury goods sales that helped drive up LVMH’s stock price. LVMH, one of the world’s biggest conglomerates, is home to brands including Louis Vuitton, Dior and Celine.
Musk, meanwhile, has enjoyed a meteoric rise up the world’s rich lists in recent years as his fortunes are directly linked to those of Tesla, the electric automaker. His biggest asset is the company’s stock, of which he owns about 13%, according to Bloomberg.
Outside of Tesla, Musk is also CEO of SpaceX, the space exploration firm, and the owner of social network Twitter (TWTR).
LVMH’s shares are up 19.7% this year, while Tesla’s have risen 65.6% in the year to date.
