Elon Musk Regains His Spot as the World’s Richest Person
The Tesla CEO has benefitted from a 100% rally in the electric carmaker’s stock from its low in January.
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Elon Musk has regained his spot as the world’s richest person, after briefly losing the title to France’s Bernard Arnault.
Musk’s wealth has been buoyed by a nearly 70% surge in Tesla Inc.’s stock price this year. It’s up about 100% from its intraday low on Jan. 6 as investors pile back into bets on riskier growth stocks amid signs of economic strength and a slower pace of Federal Reserve interest-rate increases. The company has also benefited from more demand for its electric vehicles after cutting prices on several models.