Elon Musk surpasses Bernard Arnault, Jeff Bezos in Forbes Billionaires list. His net worth is… - Hindustan Times
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Elon Musk surpasses Bernard Arnault, Jeff Bezos in Forbes Billionaires list. His net worth is…

Jun 03, 2024 11:04 AM IST

Forbes Billionaires list: Elon Musk's net worth reached $210.7 billion while Bernard Arnault holds second place with $201 billion.

Elon Musk surpassed Bernard Arnault and Jeff Bezos to become the richest person in the world, as per the Forbes Real Time Billionaires list. The net worth of the founder of Tesla and SpaceX reached $210.7 billion while Bernard Arnault holds second place with $201 billion. Jeff Bezos is third with $197.4 billion, the list showed followed by Mark Zuckerberg with $163.9 billion, Larry Ellison with $146.2 billion, Larry Page with $142.6 billion, Sergey Brin with $136.6 billion, Warren Buffett with $134.9 billion, Bill Gates with $128.6 billion and Steve Ballmer with $123.1 billion.

Elon Musk, CEO of SpaceX and Tesla and owner of X, became the world's richest person, surpassing Bernard Arnault and Jeff Bezos (Reuters)
Elon Musk, CEO of SpaceX and Tesla and owner of X, became the world's richest person, surpassing Bernard Arnault and Jeff Bezos (Reuters)

Tesla CEO Elon Musk accused of $7.5 billion of insider trades in investor lawsuit

This comes as a Tesla shareholder filed a lawsuit last week accusing Elon Musk of insider trading when he sold over $7.5 billion of shares of the company in late 2022.

Michael Perry, in the lawsuit filed in Delaware Chancery Court, said that Tesla's share price plummeted after the company's fourth-quarter number and claimed that Elon Musk "improperly benefited" by about $3 billion in insider profits.

"Musk exploited his position at Tesla, and he breached his fiduciary duties to Tesla," the lawsuit said as per which Elon Musk sold the shares on various dates in November 2022 and December 2022.

Tesla may not give Elon Musk his $56 billion pay. He says, ‘did not ask for it…’

"Had (Musk) waited to make these sales until after the release of material adverse news,... his sales would have netted him less than 55% of the amounts realized from his November and December 2022 sales," the lawsuit said.

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