Elon Musk’s net worth skyrockets by R182 billion – here’s why

South African-born billionaire Elon Musk’s net worth reportedly surged by an estimated $10.6 billion (R182 billion) since he testified in court on Friday 20 January.

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ELON MUSK’S NET WORTH SKYROCKETS  BY BILLIONS

Business Insider South Africa reports that Tesla and SpaceX CEO Elon Musk’s net worth has surged by a whopping $10.6 billion (R182 billion). This comes after he testified in court on Friday 20 January – marking the largest two-day gain since November 2022.

The billionaire is being sued by Tesla shareholders after he tweeted “funding secured” to take Tesla private at $420 (R7216) in 2018. However, the deal did not happen. So, investors are suing the CEO for billions of dollars in damages.

Musk testified in court. He defended the tweet saying that it was not a joke because he thought he secured funding from Saudi Arabia’s investment fund.  Musk also testified that he counted on selling Tesla stock to take the company private.

The billionaire’s net worth surge almost makes up for the $13 billion (R223 billion) knock he took so far in 2023. 

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WHO ARE THE WORLD’S RICHEST PEOPLE?

Musk was the world’s richest man for about 14 months before CEO and Chairman of LVMH (Moët Hennessy Louis Vuitton) Bernard Arnault took his spot. Despite his net worth surge, Musk is still the second richest man, falling under Arnault.

So, who are the top five richest people in the world? According to Bloomberg Billionaires Index:

• Bernard Arnault – $190 billion (R3.2 trillion)
• Elon Musk – $145 billion (R2.4 trillion)
• Jeff Bezos – $120 billion (R2 trillion)
• Gautam Adani – $119 billion (R2 trillion)
• Bill Gates – $111 billion (R190 trillion)

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