Elon Musk Reclaims World's Richest Man Title, Dangote Now Ranked 72nd Wealthiest in The World
- Elon Musk has reclaimed the number one spot as the wealthiest man in the world from Bernard Arnault
- Musk earned about $1 billion to oust Arnault from the top spot after Arnault lost nearly $5 billion on Wednesday, May 31, 2023
- Meanwhile, Nigeria's richest man, Aliko Dangote, galloped to the 72nd position on Wednesday after earning N24.4 billion in one day
Tesla CEO Elon Musk has taken back the world's richest man title from the French luxury merchant Bernard Arnault.
Musk, who earned over $1 billion in the last 24 hours, dethroned the Frenchman after occupying the second spot for over six months.
Source: Getty Images
Elon Musk's car company makes massive gains
The Twitter CEO saw the shares of Tesla roar to trade at about $203.93 on Wednesday, May 31, 2023, to shore up his net worth to about $192 billion, while Arnault moved to the second position at $187 billion, having lost $5 billion in the last 24 hours.
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Musk, who has been in China for talks with Beijing over the future of his electric car company, is about $5 billion clear.
Similarly, Nigeria and Africa's richest man, Aliko Dangote, jumped three places in the billionaire ranking on Wednesday, May 31, 2023.
The Nigerian billionaire is now ranked 72nd wealthiest man on earth, Bloomberg Billionaire Index says.
Dangote now ranked 72nd richest person in the world
The chairman of the Dangote Group earned $53.2 million, about N24.4 billion, on Wednesday to move from the 75th position he had occupied for just one day.
Legit.ng reported that Dangote had climbed from 84th on Tuesday, May 30, 2021, to 75th on the world ranking before his recent leap.
Dangote, whose 650bpd capacity refinery was commissioned on May 22, 2023, made the massive jump, thanks to the strong showing of Dangote Cement, his primary source of wealth.
The development follows the bullish trend of the Nigeria Stock Exchange, which saw significant quoted shares jump on the news of Nigeria's new President, Bola Tinubu, being successfully sworn in on Monday, May 29, 2023.
The shares of Dangote Cement traded at N290 on Wednesday, May 31, 2023, following investors' positive sentiments.
The billionaire industrialist has said his refinery will be ready to release the first batch of refined petroleum products into the markets by July ending.
Elon Musk set to become richest man in the world again as he makes over N2 trillion in hours
Legit.ng reported that tech mogul Elon Musk is now within striking distance of reclaiming the title of the world's richest man from Bernard Arnault.
According to the Bloomberg Billionaire Index, Musk, the CEO of Tesla and SpaceX, saw his net worth increase by $4.86 billion (N2.24 trillion) after 8 hours of trading.
This remarkable surge skyrocketed his net worth to an impressive $190 billion, just $2 billion short of Bernard Arnault's $192 billion net worth.
Source: Legit.ng
