{"id":1446821,"date":"2023-12-30T13:45:00","date_gmt":"2023-12-30T18:45:00","guid":{"rendered":"https:\/\/bugaluu.com\/news\/?p=1446821"},"modified":"2023-12-30T13:45:00","modified_gmt":"2023-12-30T18:45:00","slug":"too-big-to-cancel-elon-musk-is-once-again-worlds-richest-person","status":"publish","type":"post","link":"https:\/\/bugaluu.com\/news\/too-big-to-cancel-elon-musk-is-once-again-worlds-richest-person\/1446821\/","title":{"rendered":"‘Too Big To Cancel’: Elon Musk Is Once Again World’s Richest Person"},"content":{"rendered":"

‘Too Big To Cancel’: Elon Musk Is Once Again World’s Richest Person<\/span><\/p>\n

\n

The 500 billionaires on the Bloomberg Billionaires Index added $1.5 trillion in net worth in 2023, fully recovering $1.4 trillion lost last year. <\/strong><\/p>\n

Their fortunes surged due to the strong performance of tech stocks despite elevated inflation, recession fears, high interest rates, and increasing war risks worldwide.\u00a0<\/p>\n

Elon Musk reclaimed the title of the world’s richest person, surpassing French luxury Bernard Arnault, CEO of luxury-goods conglomerate LVMH. Musk is set to end the year with a net worth of $232.4 billion, a $95.4 billion increase year-to-date. His net worth is closely tied to the performance of Tesla shares, which are up more than 100% this year.\u00a0<\/p>\n

Arnault is next on the list as the second wealthiest person in the world, with a net worth of $179 billion. Amazon’s Jeff Bezos is number three with a net worth of $178.3 billion, and Bill Gates number four at $140.5 billion.\u00a0<\/p>\n

<\/a><\/p>\n

Despite Arnault’s net wealth hitting a new record high this year, the Federal Reserve’s most aggressive interest rate hiking cycle in a generation has dented the fortunes of the top five on the Bloomberg list.\u00a0<\/p>\n

<\/a><\/p>\n

The Fed pivot, with rate traders now pricing in well over six cuts through the end of 2024, helped unleash a stock market rally; in return, the net wealth of the top billionaires moved higher in recent months.\u00a0<\/p>\n

<\/a><\/p>\n

Democrats are furious Musk is crowned once more as the world’s richest person as the Biden administration weaponizes federal agencies against the billionaire<\/a>.\u00a0<\/p>\n<\/div>\n

Tyler Durden<\/a><\/span>
\nSat, 12\/30\/2023 – 08:45<\/span><\/p>\n

\u200bhttps:\/\/www.zerohedge.com\/personal-finance\/elon-musk-once-again-worlds-richest-person<\/a>\u00a0<\/p>\n

\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"

‘Too Big To Cancel’: Elon Musk Is Once Again World’s Richest Person The 500 billionaires on the Bloomberg Billionaires Index added $1.5 trillion in net…<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_post_was_ever_published":false},"categories":[1],"tags":[],"class_list":["post-1446821","post","type-post","status-publish","format-standard","hentry","category-news","wpcat-1-id"],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/pbimBl-64nP","jetpack_featured_media_url":"","_links":{"self":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/posts\/1446821","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/comments?post=1446821"}],"version-history":[{"count":0,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/posts\/1446821\/revisions"}],"wp:attachment":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/media?parent=1446821"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/categories?post=1446821"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/tags?post=1446821"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}