• Home
  • Politics
  • Health
  • World
  • Business
  • Finance
  • Tech
  • More
    • Sports
    • Entertainment
    • Lifestyle
What's Hot

Trump Announces First Post-Tariff Trade Deal

May 8, 2025

100 Funny Father’s Day Quotes for Hilariously Relatable Humor (and Plenty of Love Too)

May 8, 2025

Top 10 Benefits Of Acupuncture

May 8, 2025
Facebook Twitter Instagram
  • Contact
  • Privacy Policy
  • Terms & Conditions
Friday, May 9
Patriot Now NewsPatriot Now News
  • Home
  • Politics

    Security video shows brazen sexual assault of California woman by homeless man

    October 24, 2023

    Woman makes disturbing discovery after her boyfriend chases away home intruder who stabbed him

    October 24, 2023

    Poll finds Americans overwhelmingly support Israel’s war on Hamas, but younger Americans defend Hamas

    October 24, 2023

    Off-duty pilot charged with 83 counts of attempted murder after allegedly trying to shut off engines midflight on Alaska Airlines

    October 23, 2023

    Leaked audio of Shelia Jackson Lee abusively cursing staffer

    October 22, 2023
  • Health

    Disparities In Cataract Care Are A Sorry Sight

    October 16, 2023

    Vaccine Stocks—Including Pfizer, Moderna, BioNTech And Novavax—Slide Amid Plummeting Demand

    October 16, 2023

    Long-term steroid use should be a last resort

    October 16, 2023

    Rite Aid Files For Bankruptcy With More ‘Underperforming Stores’ To Close

    October 16, 2023

    Who’s Still Dying From Complications Related To Covid-19?

    October 16, 2023
  • World

    New York Democrat Dan Goldman Accuses ‘Conservatives in the South’ of Holding Rallies with ‘Swastikas’

    October 13, 2023

    IDF Ret. Major General Describes Rushing to Save Son, Granddaughter During Hamas Invasion

    October 13, 2023

    Black Lives Matter Group Deletes Tweet Showing Support for Hamas 

    October 13, 2023

    AOC Denounces NYC Rally Cheering Hamas Terrorism: ‘Unacceptable’

    October 13, 2023

    L.A. Prosecutors Call Out Soros-Backed Gascón for Silence on Israel

    October 13, 2023
  • Business

    Trump Announces First Post-Tariff Trade Deal

    May 8, 2025

    Electric Vehicle Sales Nosedive As GOP Takes Buzzsaw To Biden’s Mandate

    May 7, 2025

    Tyson Foods Announces It Will Bend The Knee To Trump Admin’s New Rules

    May 7, 2025

    Federal Reserve Holds Interest Rates Steady Despite Pressure From Trump

    May 7, 2025

    ‘Wait Them Out’: John Kennedy Tells Larry Kudlow One Lie He Suspects China’s Telling US

    May 7, 2025
  • Finance

    Ending China’s De Minimis Exception Brings 3 Benefits for Americans

    April 17, 2025

    The Trump Tariff Shock Should Push Indonesia to Reform Its Economy

    April 17, 2025

    Tariff Talks an Opportunity to Reinvigorate the Japan-US Alliance

    April 17, 2025

    How China’s Companies Are Responding to the US Trade War

    April 16, 2025

    The US Flip-flop Over H20 Chip Restrictions 

    April 16, 2025
  • Tech

    Cruz Confronts Zuckerberg on Pointless Warning for Child Porn Searches

    February 2, 2024

    FTX Abandons Plans to Relaunch Crypto Exchange, Commits to Full Repayment of Customers and Creditors

    February 2, 2024

    Elon Musk Proposes Tesla Reincorporates in Texas After Delaware Judge Voids Pay Package

    February 2, 2024

    Tesla’s Elon Musk Tops Disney’s Bob Iger as Most Overrated Chief Executive

    February 2, 2024

    Mark Zuckerberg’s Wealth Grew $84 Billion in 2023 as Pedophiles Target Children on Facebook, Instagram

    February 2, 2024
  • More
    • Sports
    • Entertainment
    • Lifestyle
Patriot Now NewsPatriot Now News
Home»Tech»Elon Musk Reclaims Title as World’s Richest Man with $95 Billion Wealth Increase in 2023
Tech

Elon Musk Reclaims Title as World’s Richest Man with $95 Billion Wealth Increase in 2023

December 30, 2023No Comments3 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
Share
Facebook Twitter LinkedIn Pinterest Email

According to Bloomberg’s latest reports, Elon Musk’s net worth skyrocketed by $95.4 billion in 2023, reinstating him as the world’s wealthiest man.

Bloomberg reports that in 2023, Tesla and SpaceX CEO Elon Musk saw his wealth increase by a massive $95.4 billion. This surge in wealth was primarily fueled by the performance of his two largest companies, Tesla and SpaceX. Despite a challenging economic climate, Tesla’s stock performed exceptionally well, contributing massively to Musk’s financial gains.

Elon Musk and his boss Xi Jinping

Elon Musk and friend Xi Jinping (Elon Musk/Twitter)

Tesla’s success is reflective of a broader trend amongst the big tech Masters of the Universe, which saw a collective wealth increase of 48 percent or $658 billion among tech billionaires. This remarkable growth was driven by growing excitement around AI and the strong performance of tech stocks.

Musk’s vast increase in wealth is especially notable because his purchase of Twitter (now known as X) has been a financial failure. The company is now worth only a fraction of the $44 billion Musk paid for it just over a year ago.

As Breitbart News previously reported:

Bloomberg reports that Twitter is now only worth a third of the $44 billion that tech tycoon Elon Musk paid for the social media giant according to Fidelity Investments. “Twitter’s value has seen a significant decline since Musk’s takeover,” a Fidelity spokesperson said. “Our recent evaluation of our equity stake in the company reflects this downturn.”

Elon Musk, who paid $44 billion for Twitter, including $33.5 billion in equity, has openly acknowledged that he overpaid for the service. “Twitter is worth less than half what I paid for it,” Musk confessed in a recent statement.

In November, Fidelity reduced the value of its Twitter holding to 44 percent of the original purchase price. The platform then experienced additional markdowns in December and February, which highlighted its ongoing financial difficulties.

The tech industry’s resilience is further evidenced by the significant wealth gains of other tech giants. Amazon.com founder Jeff Bezos and Meta (formerly Facebook) CEO Mark Zuckerberg experienced substantial increases in their fortunes, adding $70 billion and $80 billion respectively. These figures demonstrate the ongoing strength and influence of Amazon and Meta, even amidst economic headwinds, cementing their positions as industry leaders.

See also  Mark Zuckerberg's Twitter Clone 'Threads' Boasts 50 Million Profiles, 95 Million Posts in First Day

In contrast to this positive trend, Indian billionaire Gautam Adani faced a severe financial setback. His wealth declined by $21 billion in a single day in January and totaled a loss of $37.3 billion throughout the year. This dramatic drop was mainly due to allegations of “brazen stock manipulation and accounting fraud scheme over the course of decades,” made by short-seller Hindenburg Research, leading to a significant devaluation of the Adani Group.

Read more at Bloomberg here.

Lucas Nolan is a reporter for Breitbart News covering issues of free speech and online censorship.

Billion Elon increase Man Musk Reclaims Richest Title Wealth Worlds
Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

$15 Billion And Climbing: Trump’s Tariffs Deliver Record High Revenue

April 25, 2025

The Modern Triumvirate: Trump, Xi, and Musk

April 7, 2025

Trump Admin Greenlights Installation Of Elon Musk’s Starlink On United Airlines Planes

April 1, 2025

Why Grab Wants to Acquire Indonesia’s GoTo for $7 Billion

April 1, 2025
Add A Comment

Leave A Reply Cancel Reply

Top Posts

Snap expands AI chatbot with ability to create images

April 19, 2023

FDA advisory panel backs Pfizer’s maternal RSV vaccine

May 19, 2023

Head of France’s Medef business lobby: seeing some signs of business slowdown

August 28, 2023

Here’s what it means for business

July 11, 2023
Don't Miss

Trump Announces First Post-Tariff Trade Deal

Business May 8, 2025

President Donald Trump announced Thursday the U.S. has reached a trade agreement with the U.K.,…

100 Funny Father’s Day Quotes for Hilariously Relatable Humor (and Plenty of Love Too)

May 8, 2025

Top 10 Benefits Of Acupuncture

May 8, 2025

Electric Vehicle Sales Nosedive As GOP Takes Buzzsaw To Biden’s Mandate

May 7, 2025
About
About

This is your World, Tech, Health, Entertainment and Sports website. We provide the latest breaking news straight from the News industry.

We're social. Connect with us:

Facebook Twitter Instagram Pinterest
Categories
  • Business (4,110)
  • Entertainment (4,220)
  • Finance (3,202)
  • Health (1,938)
  • Lifestyle (1,626)
  • Politics (3,084)
  • Sports (4,036)
  • Tech (2,006)
  • Uncategorized (4)
  • World (3,944)
Our Picks

Avoid these mistakes when picking an actively managed fund

April 29, 2023

High School Baseball Player Honors Late Mom with Grand Slam

June 6, 2023

Decoding China’s Counter-Espionage Crackdown

May 19, 2023
Popular Posts

Trump Announces First Post-Tariff Trade Deal

May 8, 2025

100 Funny Father’s Day Quotes for Hilariously Relatable Humor (and Plenty of Love Too)

May 8, 2025

Top 10 Benefits Of Acupuncture

May 8, 2025
© 2025 Patriotnownews.com - All rights reserved.
  • Contact
  • Privacy Policy
  • Terms & Conditions

Type above and press Enter to search. Press Esc to cancel.