Elon Musk‘s wealth has skyrocketed to new heights after a dramatic crash at the top of the year.
The Tesla founder gained a whopping $100 billion since April when his electric car company suffered a $65 billion crash after its stock tanked more than 40%, according to Bloomberg’s Billionaires Index.
Now, his net worth is estimated at $270 billion, keeping him comfortable at the top of the world’s richest person list.
The comeback makes Musk the fourth greatest earner of the year after facing the humiliating threat of being the biggest wealth loser of the year in April.
Musk is followed by net worth gainer’s Meta CEO Mark Zuckerberg, Nvidia CEO Jensen Huang and Oracle cofounder Larry Ellison.
Musk still surpasses his competition by eons as the richest person on the planet with a $270 billion fortune.
Behind him is Amazon founder Jeff Bezos ($215 billion) and Zuckerberg ($200 billion).
However, Musk’s wealth has still declined from the past.
In November 2021, he was worth an eye-watering $340 billion. Now, Tesla’s stock is down nearly 40% from then, which puts him out $70 billion.
Financial experts say his monetary rebound reflects renewed optimism not only toward Tesla but the wider stock market and US economy.
The Federal Reserve recently made its first cut to interest rates after hiking them from nearly zero to north of 5% in under 16 months, pushing stocks to record highs and easing inflation and recession fears.
