Elon Musk, the richest man in the world, has experienced spectacular increases in his wealth valuation in recent weeks amid high buying pressure witnessed on Tesla stock.
The billionaire who was born in South Africa has a staggering $269 billion in net worth as of 2022, making him the richest person in the world. He has also recovered most of the losses from the previous market collapse as a result of investors’ large bets on the stock of the electric car manufacturer due to favorable macroeconomic factors.
Recall that Musk’s net worth peaked in November of last year at nearly $340 billion and later dropped to $197.1 billion in May, a 42% fall.
Thanks to a surge in growth stocks, Tesla outpaced both the tech-heavy index and the overall S&P 500 Index, rising about 50% from a late-May low.
In an effort to draw in even more ordinary investors amid a ferocious surge since late May, Tesla Inc. shareholders approved a three-for-one stock split on Thursday.
As he declared his intention to pull out of the $44 billion acquisition of Twitter, the billionaire made headlines. He cited worries about spam accounts and said that the company was “in significant breach of various terms” of the merger agreement.
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