Elon Musk’s net worth was about $28 billion on January 1, 2020. Just a few short years ago, he was worth ‘only’ worth $28 billion. At that time, he was nowhere close to being the richest person in the world. He barely made it to the top 30.
At the end of 2020, Elon Musk’s net worth stood at a staggering $170 billion which means that his fortune increased by $142 billion in one year. As amazing as that fortune was, it was not even enough to make Elon Musk the richest person in the world when the clock hit midnight on December 31, 2020. The richest person was still Jeff Bezos, but only for another week.
On January 7, 2021, Elon Musk moved past Jeff Bezos to become the richest person in the world. He maintained the position uninterrupted for 700 straight days between January 7, 2021, and December 13, 2022. In the middle of the 700-day streak, Elon Musk’s fortune went to the moon.
In October 2021, Musk’s fortune surpassed $300 billion. On November 1, 2021, Elon Musk saw his net worth briefly top $340 billion. That was adequate to make him the richest person in modern history, exceeding an 80-year record held by the late John D. Rockefeller.
He closed the year with $300 billion. At that point, Jeff Bezos was the second richest person worldwide with a net worth of $190 billion. Bernard Arnault was number 3 with a net worth of $150 billion. In December 2021, many people were convinced that Elon Musk’s fortune was just getting warmed up. There were projections that he would become a trillionaire by the end of 2022. That never happened.
Musk’s net worth plunged off a cliff between December 2021 and December 2022. He was not worth $300 billion by December 2022. Also, he was not worth $200 billion. He had also lost the richest person in the world title.
On December 13, 2022, Bernard Arnault’s $168 billion fortune surpassed Elon’s $165 billion fortune. That was the first time when the LVMH founder was officially declared the richest person in the world. He managed to hold that title uninterrupted for 195 days, between December 13, 2022, and June 1, 2023.
Today Elon Musk is the richest person in the world once more. He is worth $194 billion, around $6 billion more than Bernard Arnault’s $188 billion fortune.