Market Desk (Tech): Elon Musk is once again the world’s richest person after French billionaire Bernard Arnault.
The head of Tesla and owner of Twitter has seen his fortune recover to $192bn up $55bn from the start of the year while Arnault’s wealth has fallen by $5bn in the past 24 hours to $187bn according to Bloomberg’s daily updated billionaires’ index.
Arnault had overtaken Musk as the world’s most wealthy person in December, 2022 after the value of LVMH shares soared amid booming demand for its luxury products. At the same time, Musk’s wealth had fallen as Tesla’s share price slid on investor fears that he might be preoccupied with his recent purchase of Twitter.
Compared to last year, the share price of LVMH has increased by 19.7% this year. At the same time, Tesla’s share price rose 65.6%. Hence the huge jump in Musk’s net worth.
Arnold, 74, overtook Musk as the richest man in December, 2022. Since then they have overtaken each other in the wealth gap several times. Jeff Bezos and Bill Gates are ranked third and fourth respectively after Elon Musk and Bernard Arnault. Bezos, the founder of e-commerce giant Amazon, has a net worth of $146 billion. And the wealth of Microsoft co-founder Bill Gates is $126bn.
