Elon Musk’s wealth has been buoyed by a nearly 70 per cent surge in Tesla’s stock price this year.
| Elon Musk has regained his spot as the world’s richest person, after briefly losing the title to France’s Bernard Arnault.
Tesla shares rose 5.5 per cent in New York, boosting Mr Musk’s net worth to $US187.1 billion , according to the Bloomberg Billionaires Index. That exceeds the $US185.3 billion personal fortune of Mr Arnault, the 73-year-old French tycoon behind luxury-goods powerhouse LVMH. , at the same time that his electric carmaker was facing heightened competition across the industry. Mr Musk said in December he plans to resign from his post at the social-media platform once he finds someone “foolish” enough to take the job.
Tom Narayan, an analyst with RBC Capital Markets, said in a February report that Tesla’s price cuts had spurred demand for vehicles, and that the company is the “poster child” of electric cars.
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