Elon Musk Regains Throne as King of the Billionaires

Elon Musk has become the richest person in the world again according to Bloomberg.

Bloomberg estimates Musk’s net worth to be $192 billion, slightly higher than Bernard Arnault, the CEO of LVMH, who has a net worth of $187 billion.

Musk and Arnault have been competing for the top spot for a while.

Recently, Arnault’s wealth decreased slightly due to a drop in LVMH’s stock price.

Arnault had surpassed Musk in December due to strong luxury goods sales increasing LVMH’s stock price. LVMH owns many high-end brands like Louis Vuitton, Dior, and Celine.

Musk’s wealth has skyrocketed in recent years because his net worth is closely tied to Tesla’s stock price. Musk owns about 13% of Tesla’s stock.

In addition to Tesla, Musk also runs SpaceX, a space exploration company, and owns Twitter.

LVMH’s stock price has increased 19.7% this year, while Tesla’s stock price has gone up 65.6% this year.

Source: CNN

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