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Elon Musk reclaims title of world’s richest person

06:13 PM | 2 Jun, 2023
Elon Musk reclaims title of world’s richest person
Source: File Photo

Tesla owner and SpaceX CEO Elon Musk has again clinched the title of the world’s richest man by surpassing Bernard Arnault, the owner of LVMH.  

The net worth of the business tycoon soared by $55.3 billion since January to $192 billion, after Tesla registered massive gains.

An index released by Bloomberg shows Arnault's fortune dropped by $24.5 billion to $187 billion. Jeff Bezos and Bill Gates secure third and fourth position, respectively.

The LVMH boss dethroned Musk as the world’s wealthiest men in December when shares of his company witnessed an increase following the rebound in demand of the luxury goods.

The stock prices of Tesla dropped drastically following the concerns expressed by investors after Musk acquired social media platform Twitter for $44 billion.

The stock prices went up by almost 92% since this year started as Musk regained trust of investors after he announced his decision of stepping down as chief executive of Twitter.

His recent trip to China also bolstered the trust of Tesla shareholders while the electric vehicle firm is benefiting from the surge in interest in artificial intelligence (AI).

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Pakistani rupee exchange rate to US dollar, Euro, Pound, Dirham, and Riyal - 26 Feb 2024

Pakistani currency remains stable against US dollar in the open market on February 26, 2024 (Monday).

US Dollar rate in Pakistan

In the open market, the US dollar was being quoted at 279.5 for buying and 282.55 for selling.

Euro currently stands at 302 for buying and 305 for selling while British Pound rate stands at 352.5 for buying, and 356 for selling.

UAE Dirham AED hovers at 76.1 whereas the Saudi Riyal saw slight increase, with new rates at 74.35.

Today’s currency exchange rates in Pakistan - 26 Feb 2024

Source: Forex Association of Pakistan. (last update 09:00 AM)
Currency Symbol Buying Selling
US Dollar USD 279.5 282.55
Euro EUR 302 305
UK Pound Sterling GBP 352.5 356
U.A.E Dirham AED 76.1 76.8
Saudi Riyal SAR 74.35 75.1
Australian Dollar AUD 181 183
Bahrain Dinar BHD 743.88 751.88
Canadian Dollar CAD 207 209
China Yuan CNY 38.89 39.29
Danish Krone DKK 40.38 40.78
Hong Kong Dollar HKD 35.76 36.11
Indian Rupee INR 3.37 3.48
Japanese Yen JPY 2.1 2.18
Kuwaiti Dinar KWD 908.79 917.79
Malaysian Ringgit MYR 58.6 59.2
New Zealand Dollar NZD 171.68 173.68
Norwegians Krone NOK 26.43 26.73
Omani Riyal OMR 726.53 734.53
Qatari Riyal QAR 76.76 77.46
Singapore Dollar SGD 207 209
Swedish Korona SEK 26.53 26.83
Swiss Franc CHF 317.87 320.37
Thai Bhat THB 7.79 7.94

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