Elon Musk surpasses Jeff Bezos as second richest man

Elon Musk has reclaimed the title of the world's second richest man, surpassing Jeff Bezos once again. Musk's net worth now stands at $205.6 billion, following a significant increase of $14.5 billion in stocks. On the other hand, Bezos' wealth has risen to $198.9 billion after a $1.3 billion boost. Earlier in March, Bezos briefly held the second spot after selling $8.4 billion worth of Amazon shares, but Musk's recent surge has pushed him back to third place.

Both Musk and Bezos still trail behind Bernard Arnault, the chairman of LVMH, who currently holds the title of the world's richest man with a net worth of $210.1 billion. Musk is now just $5 billion away from claiming the top spot. The majority of Musk's wealth stems from his substantial holdings in Tesla, where he owns 20.5% of the shares. Additionally, he has investments in other ventures such as Space X, Neuralink, and xAI.

Tesla's stock saw a significant increase following Musk's successful visit to China, where he met with Premier Li Qiang. This visit resulted in the resolution of key regulatory obstacles for Tesla's self-driving software. Furthermore, Tesla has recently partnered with Chinese internet giant Baidu to utilize its mapping license for data collection on Chinese roads.