Elon Musk has reclaimed his position as the world’s richest person again, Musk knocked off LVMH CEO Bernard Arnault. According to the Bloomberg Billionaires Index’s update, the Tesla CEO saw his wealth jump 40.3 per cent this year to $192.3 billion. This happened after the shares of electric car maker rose about 24 per cent in May as per the Eikon Data.
Elon Musk owns about 13 per cent of Tesla and most the Musk’s wealth is tied up to Tesla’s stock. LVMH CEO Bernard Arnualt snatched the top place from Musk in December, after shares of Tesla fell after his $44 billion acquisition of Twitter. Arnault’s net worth fell to $187 billion after shares of 74-year-old Frenchman’s LVMH fell 2.6 per cent in Paris trading.
The two billionaires have been neck to neck for the top spot in billionaires’ index this year. The Bloomberg Billionaires Index updates the wealth figures of the world’s 500 richest people at the close of every trading day in New York.
The index also shows Amazon founder Jeff Bezos in the world’s third richest person, with a net worth of $144 billion.
Musk left Shanghai on Thursday, after a high-profile two-day visit. While in China, he met with foreign minister Qin Gang and other Chinese officials. The visit, which comes amid simmering U.S.-China tensions, was a sign China is an important market to Tesla, analysts have said. The CEO of SpaceX and the owner of Twitter, Musk also reportedly signalled further expansion in China.