Elon Musk reclaims position as world’s richest man
Elon Musk has reclaimed his position as the world’s wealthiest person.
That’s according to a Bloomberg Billionaires tally, which estimated the Tesla (TSLA) CEO’s net worth is now about $192 billion, compared to LVMH (LVMHF) CEO Bernard Arnault’s $187 billion.
The two centibillionaires, a term used to refer to people with fortunes of more than $100 billion, have been neck-and-neck for the top spot for months.
This week, Arnault’s wealth slid after a drop in LVMH’s stock Wednesday, according to Bloomberg calculations.
Arnault surpassed Musk in December, as his wealth climbed due to a boom in luxury goods sales that helped drive up LVMH’s stock price. LVMH, one of the world’s biggest conglomerates, is home to brands including Louis Vuitton, Dior and Celine.
Musk, meanwhile, has enjoyed a meteoric rise up the world’s rich lists in recent years as his fortunes are directly linked to those of Tesla, the electric automaker. His biggest asset is the company’s stock, of which he owns about 13%, according to Bloomberg.
Outside of Tesla, Musk is also CEO of SpaceX, the space exploration firm, and the owner of social network Twitter (TWTR).
LVMH’s shares are up 19.7% this year, while Tesla’s have risen 65.6% in the year to date.
– CNN
