In a recent turn of events, Elon Musk has reclaimed his position as the world’s richest person, surpassing Bernard Arnault. This shift in rankings can be attributed to a decline in the share value of LVMH, impacting Arnault’s wealth.
Musk had previously been overtaken by Arnault in December last year, following controversies surrounding Tesla and layoffs at Twitter. The luxury sector, including LVMH, has faced challenges amid signs of an economic slowdown, particularly in China.
Musk, on the other hand, has seen a substantial increase in wealth this year, primarily driven by the success of Tesla. His net worth has soared by over $55.3 billion, with Tesla contributing 71% to his fortune and experiencing an impressive 66% rally year-to-date.
According to the Bloomberg Billionaires Index, Musk’s total wealth is estimated at around $192 billion, while Arnault’s fortune stands at approximately $186 billion.
Although Forbes’ The Richest People In The World list places Musk in the second spot with a net wealth of $180 billion, this recent development marks his return to the pinnacle of wealth.
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