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Elon Musk Reclaims World’s Richest Title after Raising $6 Billion for xAI


Mon 03 Jun 2024 | 05:27 AM
Taarek Refaat

The wealth of billionaire Elon Musk rose to exceed $200 billion again last week, after a $6 billion fundraising round for his artificial intelligence startup xAI, which raised the company's valuation to $24 billion.

Musk's stake in the artificial intelligence company represents about $13 billion, in addition to his shares in Tesla and SpaceX, which dominate the bulk of his wealth.

Although Musk's net worth has surpassed that of the American CEO of Amazon, Jeff Bezos, as he is ranked second in the wealth ranking according to the Bloomberg Billionaires Index, he is still losing $25 billion this year, due to the decline in the electric car company's shares. Tesla.

Bernard Arnault

The French billionaire, Bernard Arnault, is superior only to Elon Musk, as his wealth stands at $207 billion, while only $4 billion separates him from Musk, with a fortune of $203 billion, while Bezos’ wealth fell to $199 billion.

Meta

The CEO of Meta, the parent company of Facebook, earned $38 billion this year, placing him in fourth place with a net worth of $166 billion.

While Larry Page benefited from the wealth of artificial intelligence during the current year, as his wealth increased by $27 billion to reach $153 billion, surpassing Bill Gates, the founder of Microsoft - the most valuable company in the world - and who is ranked sixth on the list of the world's richest people with wealth. Net $152 billion.

NVIDIA

Although the vast majority of the world's billionaires have achieved fantastic profits this year so far, the biggest winner from the artificial intelligence revolution was Jensen Huang, CEO and founder of NVIDIA, whose wealth doubled from $44 billion at the beginning. The year reached $96.3 billion with profits amounting to $52.3 billion.