Elon Musk regains his place as the world’s richest man and leaves Bernard Arnault behind

He is number one again. Elon Musk reclaimed the top spot from him as the richest person in the world. According to a Bloomberg Billionaires count, the CEO of the electric car maker Tesla now has a net worth of $192 billion, versus $187 billion for the CEO of the French multinational conglomerate LVMH, Bernard Arnault.

Musk and the 74-year-old French businessman were neck-and-neck in the fight for the top spot in the Bloomberg Billionaires Index, a ranking of the world’s 500 richest people.

Bernard Arnault first passed Musk in December 2022, when the technology industry was struggling and the luxury sector was resilient to inflation. LVMH (Moët Hennessy Louis Vuitton SA), which was created by Arnault, has brands such as fendi, Louis Vuitton, Dior, Celine and Hennessy.

For his part, Musk has experienced a meteoric rise up the world’s rich lists in recent years, as his coffers are directly tied to electric car maker Tesla. His biggest earning asset is the company’s stock, as he owns about 13% of it, according to Bloomberg.

The Austin-based automaker, which accounts for 71% of the fortune of Elon Musk, raised its earnings to 66% so far this year. The fortune of the current owner of Twitter is valued at around US$192.3 billion, while Arnault’s is around US$186.6 billion.

Source-larepublica.pe