Elon Musk crowned Richest Man in the World hours after big Twitter announcement

Elon Musk has been crowned the Richest Man in the World hours after his big Twitter announcement.

ELON Musk has been crowned the Richest Man in the World, hours after he made his big Twitter announcement.

According to Forbes late on Tuesday, April 5, the Tesla CEO has now sped past the previous holder of the top spot, Amazon founder Jeff Bezos, who has been pushed down into second place for the first time in four years.

When the Forbes’ list of world billionaires locked in net worths on March 11, the founder, CEO, and Chief Engineer at SpaceX was worth an estimated $219bn (€201bn) after adding $68bn (€63bn) to his fortune over the past year, according to Forbes.

Bezos dropped to second after he wiped $6bn (€5.5bn) from his net worth following Amazon stock drops and bigger charitable donations.

The news of Musk’s huge wealth increase comes after it was announced he would be joining the board of directors at Twitter. Prior to that, the billionaire had revealed he had a massive stake in the social media platform.

Twitter CEO Parag Agrawal made the announcement via a tweet earlier on Tuesday, April 5.

“I’m excited to share that we’re appointing Elon Musk to our board! Through conversations with Elon in recent weeks, it became clear to us that he would bring great value to our Board.

“He’s both a passionate believer and intense critic of the service which is exactly what we need on Twitter, and in the boardroom, to make us stronger in the long-term. Welcome Elon!” the 37-year-old said.

He’s both a passionate believer and intense critic of the service which is exactly what we need on @Twitter, and in the boardroom, to make us stronger in the long-term. Welcome Elon!

— Parag Agrawal (@paraga) April 5, 2022

Musk announced on April 4 that he had taken a 9.2 per cent stake in the social media platform, a week after hinting about plans to shake up the social media platform. Musk bought 73,486,938 Twitter shares on March 14.

The news saw shares in the company spike up more than 25 per cent in pre-market trading on April 4 as the billionaire increased his stake, which is worth $2.89bn (€2.65bn), based on Twitter’s closing price on Friday, April 1.

Responding to the tweet from Agrawal, the newest member of the Twitter board of directors wrote: “Looking forward to working with Parag & Twitter board to make significant improvements to Twitter in coming months!”

Looking forward to working with Parag & Twitter board to make significant improvements to Twitter in coming months!

— Elon Musk (@elonmusk) April 5, 2022

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