Twitter owner and Tesla mogul Elon Musk is back on top as the world’s richest person due to shares of Tesla skyrocketing 24 percent in May.
“The Tesla CEO saw his wealth jump 40.3% this year to $192 billion, after shares of the electric car maker rose about 24% in May, according to Eikon data. Musk owns about 13% of Tesla, according to FactSet data,” reported CNBC.
“Musk was knocked out of first place by LVMH CEO Bernard Arnault in December, after shares of Tesla fell after his $44 billion acquisition of Twitter. Most of Musk’s wealth is tied to Tesla’s stock,” the report continued.
In November, Tesla’s share price hit a two-year low to a mere $167.87 per share. “It was in part due to a sell-off that accelerated in the wake of Musk’s takeover of Twitter,” CNBC noted.
Arnault remains in second place behind Musk, followed by Jeff Bezos and Bill Gates on the billionaire index.
Musk is the owner of SpaceX, and a new AI venture meant to be a leader in artificial intelligence. The billionaire has made his reservations about AI known, and the venture likely will help shepherd the technology in directions he sees proper.