Elon Musk's Rise to the Top
Elon Musk was listed as the world's wealthiest person by net worth in the past but was overtaken by Bernard Arnault in December 2022 due to the decline in Tesla shares. However, with Tesla reducing prices on its best-selling vehicles and reporting better-than-anticipated quarterly results, the stock has appreciated significantly, bringing Elon Musk back within striking distance of the title of the world's richest person.
Investor Day and Master Plan Part 3
Tesla's Investor Day on March 1 may bring additional advantages to the company. CEO Elon Musk has stated that the event will include discussions on Part 3 of the Master Plan, which focuses on the company's extreme growth, and Elon Musk's other businesses, such as SpaceX and The Boring Company.
Competition with Bernard Arnault
Elon Musk and Bernard Arnault's fortunes depend on the stock prices of their businesses. Arnault's wealth has increased by $27 billion this year, and LVMH stock has risen 17% over the same time. However, a recent divergence in LVMH and Tesla's performance could restore Elon Musk's dominance. He will again be the richest person in the world if Tesla stock continues to outperform LVMH.