Shulou(Shulou.com)11/24 Report--

According to CTOnews.com news on February 28, shares of Tesla rose 5.46 percent to $207.63 at the close of trading on Monday, with a market capitalization of $650.602 billion. As a result, Tesla CEO Elon Musk (Elon Musk) once again regained the position of the richest man in the world.

Musk's net worth reached $187.1 billion after Monday's close, surpassing the $185.3 billion of Bernard Arnault, chairman of LV, according to the Bloomberg Billionaires Index. (CTOnews.com note: the two sides have changed hands as the richest man many times before).

For Musk, this is an important leapfrog after the Twitter acquisition, as Tesla's share price has continued to plummet over the past few months. However, Tesla has enjoyed a good rally since the start of the year, and the electric car giant has risen about 100% from its intraday low on January 6, making Musk once again the richest man in the world.

There is no doubt that the rise in Musk's wealth is mainly due to the soaring share price of Tesla. Bloomberg believes this is due to signs of a stronger economy and a slowdown in the Fed's pace of raising interest rates, prompting investors to rebet on risky growth stocks, especially Tesla.

Of course, the most important thing is that Tesla is indeed favored by many people, especially in the face of concerns in the industry, Tesla can still achieve 59 per cent profit growth (to $3.7 billion) in the fourth quarter and 37 per cent revenue growth (to $24.3 billion).

It is worth mentioning that Musk lost about $200 billion due to the acquisition of Twitter and investor concerns about Tesla in 2022, and even "only" $137 billion at the beginning of 2023, and all kinds of self-media have come forward to claim that Musk is in trouble. But there is no doubt that the eccentric billionaire does have his tricks, and he recently admitted that he needs more time to stabilize Twitter, perhaps until the end of the year. Only in this way will the baton be handed to the new CEO.

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