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Elon Musk emerges world’s richest man with a net worth of over $219bn

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Commercial and government users to start paying for Twitter – Elon Musk
Commercial and government users to start paying for Twitter – Elon Musk

American businessman, Elon Musk, has been named the ‘world’s richest man’ by Forbes Magazine.

Mr Musk, who was recently appointed to Twitter’s board after emerging as the biggest single shareholder in the microblogging platform on Monday, April 4, topped the Forbes list for the first time with a net worth of $219 billion.

He overthrown Amazon founder, Jeff Bezos, who was the world’s richest man for four consecutive years.

The 50-year-old businessman added $68billion to his net worth over the past year after a 33 per cent jump in the share price of his electric vehicle maker, Tesla, Forbes said.

With a net worth of $171 billion, Mr Bezos fell to number two for the first time in four years. According to the magazine, “This is due to a 3 per cent drop in Amazon stock and increased charitable giving, which wiped $6billion from his net worth.”