Elon Musk Regains Position As Richest Person In The World

Over the Memorial Day weekend, Elon Musk reclaimed his position as the richest person in the world by revealing that his new artificial intelligence startup, xAI, had raised $6 billion at a pre-money valuation of $18 billion.Musk is now the richest person in the world, with a net worth of $209.2 billion, exceeding Bernard Arnault’s $199.3 billion. As of May 30, 2024, Arnault is ranked third, and Jeff Bezos is in second place with an estimated $199.9 billion.After a recent agreement involving investors from his $44 billion acquisition of Twitter (now renamed), Forbes values Elon Musk’s 60% stake in xAI at $14.4 billion. Musk’s wealth is mostly derived from his nearly 12% ownership of Tesla and 42% of SpaceX, which were both worth about $75 billion as of Tuesday’s market close.Furthermore, according to Forbes, Musk’s 74% stake in his social media company is now only worth $7 billion, which is almost 70% less than what it was originally valued at when it was purchased in 2022.Musk and Arnault are still fighting for the top spot in the world because of Tesla’s erratic stock price and the growing value of SpaceX.A Delaware judge ruled in late January that Musk’s 2018 performance-based Tesla stock options, worth close to $50 billion, were void due to unfair award procedures. On June 13, Tesla shareholders will decide whether to approve Musk’s options again, which Forbes cut by 50% following the decision. According to reports, SpaceX wants to be valued $200 billion, up from $180 billion in December of last year. According to the Forbes Real Time Billionaire Index, here are the current top 10 billionaires as of May 30. Elon Musk — $209.2 bnJeff Bezos — $199.9 bnBernard Arnault — $199.3 bnMark Zuckerberg — $166.4 bnLarry Ellison — $153.2 bnLarry Page — $145.5 bnSergey Brin — $139.4 bnWarren Buffett — $133.0 bnBill Gates — $129.8 bnSteve Ballmer — $126.5 bnSOURCE:https://brandspurng.com/2024/05/31/elon-musk-regains-position-as-richest-person-in-the-world/