Elon Musk Reclaims ‘World Richest Man’ Title

According to Bloomberg, Elon Musk has reclaimed his title as the world’s richest person when shares of Bernard Arnault LVMH plummeted in Paris trading.

This year, Musk and Arnault have been neck and neck for the top spot in the Bloomberg Billionaires Index.

On Wednesday, May 31, Tesla Inc. CEO Elon Musk surpassed luxury mogul Bernard Arnault when shares of Arnault’s LVMH plummeted 2.6% in Paris trading.

Arnault, a 74-year-old French business billionaire, initially eclipsed Musk in December of last year, when the tech industry was floundering and luxury was demonstrating resilience in the face of inflation.

He founded LVMH, one of the world’s biggest companies, and is the owner of luxury brands such as Louis Vuitton, Dior, and Hermes.

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According to CNN, while LVMH shares are down 19.7 per cent year to date, Tesla shares are up 65.6 per cent. This year, Musk has earned more than $55.3 billion, primarily from Tesla.

According to CNN, Tesla’s shares have increased 65.6 per cent so far this year, while LVMH’s shares have decreased 19.7 per cent. Musk has made more than $55.3 billion this year, largely thanks to Tesla.

While Forbes’ list of the richest people in the world has Arnault at the top with a phenomenal net worth of $211 billion, Forbes’ The Richest People In The World list still places Musk in second place with a net worth of $180 billion. This is despite the fact that Bloomberg has now moved Musk to the top spot.

Elon Musk, on the other hand, has made more than $55.3 billion this year, mostly as a result of Tesla Inc. The Austin-based manufacturer, which accounts for 71% of his fortune, is up 66% year so far.

Elon Musk’s fortune is currently estimated at approximately $192.3 billion, while Arnault’s is approximately $186.6 billion, according to the Bloomberg Billionaire Index.