Musk regained the "world's richest man" position after six months, with assets of nearly $200 billion

Cailian News Agency, June 1st (Editor Huang Junzhi)Half a year later, Tesla CEO Elon Musk regained the title of the world's richest man.

As of the close of the US stock market on Wednesday, Tesla's stock price has risen 1.38% to $203.93, with an increase of 88.65% so far this year. Thanks to the sharp rise in Tesla's stock price, Musk's wealth has grown by over $55.3 billion this year.

Meanwhile, the stock price of luxury goods giant LVMH, owned by former world's richest man Bernard Arnault, fell 2.6% on the Paris stock market on Wednesday. With more and more signs of slowing economic growth, people's confidence in the booming luxury goods industry is beginning to fade. Since April, LVMH's stock price has fallen by about 10%, and Arnault's net assets have evaporated by $11 billion in just one day.

According to the Bloomberg Billionaires Index, Musk's current net assets are approximately $192.3 billion, while Arnault's net assets are approximately $186.6 billion.

In fact, Musk has been at the top of the Forbes Rich List for a long time since surpassing Amazon founder Bezos to become the world's richest person in September 2021.

However, last year, due to rising interest rates suppressing investors' interest in high-risk investments, and investors worried that Musk's excessive "distraction" after acquiring Twitter also dragged down Tesla's stock price, causing the stock to plummet by over 65%.

Because of this, Musk suffered heavy losses last year and lost the title of the world's richest man in December, replaced by Arnault.

But since the beginning of the new year, investors' confidence in the upcoming interest rate cut has been increasing, as well as the global AI craze, which has inspired investors. Tech stocks have been greatly boosted, and Wall Street analysts have also expressed optimism.

Overall, Tesla is in a favorable position to benefit greatly from the application of generative artificial intelligence in its product suite and business model, and profit growth will further accelerate, "wrote Dan Ives, an analyst at Wedbush, a US investment bank, in a report

The "Wall Street female stock god", Sister Mu, had previously made bold statements that after updating her Tesla pricing model, she expected Tesla's expected value per share in 2027 to reach $2000 under the benchmark scenario, which is about 12 times the closing price of the day.