Tesla CEO Elon Musk has reclaimed his position of the richest person in the world, surpassing the CEO of the French luxury brand Louis Vuitton Bernard Arnault, news agency ANI reported citing a Bloomberg Billionaires Index report. The Tesla CEO surpassed Bernard Arnault after shares of the latter’s LVMH tumbled 2.6 per cent in Paris trading.
According to reports, as of Thursday, Musk's net worth was about USD 192 billion, with Arnault's USD 187 billion. Index data showed behind Musk and Arnault are Jeff Bezos and Bill Gates at USD 144 billion and USD 125 billion, respectively. Musk's net worth dropped below USD 200 billion last year as investors dumped Tesla's shares. He rebounded this year with gains valued at more than USD 55.3 billion, as Tesla rallied 66 per cent year-to-date.
Tesla chief Musk is back on top of the list of wealthiest persons after shares of Arnault's firm fell over 2 per cent in the latest trade. The rise in Musk's wealth can also be partly attributed to the latest surge in Tesla stock prices. They rose about 89 per cent so far in 2023, data showed. Musk and Arnault have been neck-and-neck on the list of the richest people. In December 2022, Bernard Arnault reportedly overtook the Tesla head when he was in the second spot for more than two months. Musk reclaimed again in late February.