Musk is the richest man in the world again or You Can’t Keep a Good Man Down | News

American billionaire and entrepreneur Elon Musk is once again the richest person in the world. Thanks to the growth of the shares of his car company Tesla in May, he deposed the CEO of the luxury concern LVMH, Bernard Arnault. According to Bloomberg’s ranking of billionaires, Musk’s assets have increased by 40.3 percent to $192 billion (4.3 trillion crowns) since the beginning of the year.

Shares of electric car maker Tesla added 24 percent in May, according to data from Eikon. Musk owns about 13 percent of Tesla, which makes up the bulk of his wealth, according to FactSet data.

In addition to Tesla, the American entrepreneur also heads the rocket manufacturer SpaceX and owns the social network Twitter. Arnault ousted him from the top spot in December, when Tesla’s stock plunged following his $44 billion acquisition of Twitter.

Musk is returning today from a two-day visit to China, where he met with high-ranking political officials, including Foreign Minister Qin Kang. The visit came at a time of simmering tensions between Washington and Beijing, and analysts said it was a sign that China is an important market for Tesla.

During the visit, Kang sought to reassure Musk that China is open to foreign businesses and will continue to offer them a friendly business environment. Musk also reportedly signaled further expansion in China, he wrote server CNBC.

Source: Zprávy – by

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