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Elon Musk’s wealth is as volatile as risky assets. Compared to other billionaires, the contemporary genius can hardly be defined as an owner of steady capital. So, the rank of the outstanding entrepreneur and investor may shift with a wide margin both up and down from the other rich and privileged.
As of late 2022, the net worth of Elon Musk shrank by a whopping $123 billion compared to the beginning of the last year. According to the latest version of the Bloomberg Billionaires Index, the value of his assets tumbled to $148 billion, the lowest level in more than two years. As a result, he was placed at the second rank, having given the leadership to Bernard Arnault, Chairman and CEO of LVMH Moet Hennessy Louis Vuitton whose wealth is currently estimated at $161 billion. However, in early 2023, Elon Musk pumped up his capital in a couple of days. His net worth expanded by almost $11 billion. Curiously, the catalyst for a rally of his assets was his testimony in a federal court in San Francisco under a lawsuit filed by Tesla’s shareholders over a violation of the securities legislation.
Interestingly, the Bloomberg Billionaires Index tracks even minor fluctuations in the wealth of the world’s richest people. So, Elon Musk’s net worth went up since he took the stand in a civil court on January 20, 2023, and extended its growth on January 23. All in all, the wealth of Tesla CEO soared by $10.6 billion, the largest two-day gain since November. Currently, the periodical evaluates his net worth at $145.2 billion.
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