Elon Musk is world's richest person again after Tesla shares surge

Elon Musk, CEO of Tesla, has once again become the world's richest person. Musk, who also owns SpaceX and social media platform Twitter, had lost his position to Bernard Arnault, CEO of the French luxury brand Louis Vuitton, in December last year. However, after his EV manufacturing company Tesla saw its shares surge by up to 70 per cent on Monday, Musk's net worth also climbed and helped him reclaim the title. According to the Bloomberg Billionaires Index, Elon Musk's net worth is around $187.1 billion as of Tuesday. It is marginally more than Arnault's net worth of $185.3 billion.

Elon Musk's net worth has increased by around $50 billion. It is more than 30 per cent jump after Tesla’s gains in the US stock market. Musk started the year with a net worth of $137 billion. He lost around $200 billion after Tesla's struggle last year, as well as his deal to buy out Twitter by selling his share of stocks with the EV maker. However, Tesla stock surge helped him gain lost wealth by quite a margin. The Tesla stock prices rose about 25 per cent in the past one month.

The 51-year old CEO of the world's largest electric vehicle manufacturer is looking to give up his role as the CEO of Twitter soon. In October last year, Musk bought the social media platform for $44 billion. According to Musk, he will wait until Twitter's finances are stabilised before handing off his role to a new CEO.

Tesla is the most popular electric vehicle brand across the world. In United States, its home base, more than 70 per cent of buyers purchasing their first electric cars go for a Tesla. Tesla's Model 3 and Model Y are some of the most popular electric vehicle models around the world. The EV maker also stands to benefit in recent US government push to offer more charging options on highways. Musk's company has agreed to open its Supercharger network of EV charging stations to other EV owners recently.