Elon Musk has once again reclaimed his position as the world's richest individual, according to the latest Bloomberg Billionaires tally. With an estimated net worth of approximately $192 billion, the CEO of Tesla, Elon Musk, has surpassed Bernard Arnault, the CEO of LVMH, whose net worth is valued at $187 billion.
Both individuals have been closely competing for the top spot, and this week, Arnault's wealth decreased following a drop in LVMH's stock on Wednesday. Arnault had overtaken Musk in December when his wealth surged due to increased sales in luxury goods, which positively impacted LVMH's stock price. LVMH is renowned for its prestigious brands such as Louis Vuitton, Dior, and Celine.
Elon Musk's ascent to the world's richest rankings has been remarkable in recent years, largely fueled by the success of Tesla, the electric automaker. His primary asset is his stake in Tesla, where he owns approximately 13% of the company's stock. Additionally, Musk holds the positions of CEO at SpaceX, a space exploration company, and owner of the social network Twitter (TWTR).
While LVMH's shares have risen by 19.7% this year, Tesla's stock has experienced a significant increase of 65.6% year-to-date, further contributing to Musk's wealth and prominence on the billionaires list.