Musk is the richest man in the world again

According to the latest update of the Bloomberg Billionaires Index on Thursday, Elon Musk again became the richest man in the world.

Tesla shares rose 24% in May, boosting Musk's net worth to $192 billion.

Thus, Musk passed LVMH CEO Bernard Arnault and returned to first place in the Bloomberg rankings. Previously, Arno took the lead from Musk in December 2022.

In addition to Tesla, Musk also owns Twitter and is the CEO of SpaceX, an aerospace company.

The rise in Tesla shares in May raised questions from investors about whether the electric car maker is back on the rise.

Tesla's stock price at the close of the last session on Wall Street was $203.93. The company's market value, according to InvestingPro, is $215.92 billion, medium risk, and strong financials.

The positive factors for the company are a high return on investment, the presence of more cash on the balance sheet compared to debt and stable growth in earnings per share (EPS).

However, among 20 analysts, the company's earnings forecasts for the future period have been lowered, the company has a high earnings multiple, and the share price shows significant volatility.

InvestingPro also points out that Tesla does not pay dividends to its shareholders.

It should be noted that although the share price rose by 26% in the last month, it has declined by 17% over the year.

Tesla's Q2 2023 financial results report will be released on July 24. Analysts cut their earnings-per-share forecast for this quarter by 42.8%, from $1.37 per share to $0.78 per share over the past 12 months. Estimated revenue is $24.272 billion.