In a recent ranking by Bloomberg Billionaires, Elon Musk has regained his title as the wealthiest individual globally.
With an estimated net worth of around $192 billion, the CEO of Tesla, Elon Musk, has surpassed Bernard Arnault, the CEO of LVMH, whose net worth stands at $187 billion.
Both Musk and Arnault, referred to as centibillionaires due to their fortunes exceeding $100 billion, have been closely competing for the top position for several months.
However, a drop in LVMH's stock on Wednesday led to a decrease in Arnault's wealth, allowing Musk to reclaim the throne.
Back in December, Arnault had surpassed Musk as his wealth soared, primarily driven by the remarkable sales growth in luxury goods, resulting in a surge in LVMH's stock price.
LVMH, known for its prestigious brands like Louis Vuitton, Dior, and Celine, is among the largest conglomerates worldwide.
On the other hand, Musk's ascent to the pinnacle of the world's richest lists can be attributed to his remarkable success with Tesla, the renowned electric automaker.
The majority of Musk's wealth comes from his significant stake of about 13% in Tesla's stock.
In addition to Tesla, Musk holds key positions as the CEO of SpaceX, a pioneering space exploration company, and as the owner of the popular social network, Twitter (TWTR).
While LVMH's shares have increased by 19.7% this year, Tesla's stock has soared by an impressive 65.6% year-to-date, contributing to Musk's regained status as the wealthiest person globally.
