Elon Musk has managed to reclaim his title as the world’s richest person once again.
Back in December 2022, the tycoon of French luxury goods Bernard Arnault surpassed Musk when his shares in LVMH soared as sales of luxury goods rebounded. LVMH is one of the biggest conglomerates in the world and it is home to famous brands including Louis Vuitton, Celine and Dior.
Just as the value of LMVH peaked in time for Christmas, the share price of Tesla sunk amid concerns that Musk’s takeover of Twitter was actually doing more harm than good. Last month, Musk appointed Linda Yaccarino as the new CEO of Twitter.
As of June 9, 2023, Elon Musk’s total net worth is at $214 billion while Bernard Arnault is worth $189 billion. Trailing behind are Jeff Bezos (Amazon) at $148 billion, Bill Gates (Microsoft) at $128 billion, and Larry Ellison (Oracle) at $121 billion. These figures were based on the Bloomberg Billionaires Index, a daily ranking of the world’s richest people.
In recent years, Elon Musk has enjoyed a meteoric rise up the world’s rich lists since his wealth is directly tied to those of Tesla, the electric automaker. He is the biggest individual shareholder in the company, owning about 13% of Tesla stock. He is also CEO of space exploration firm SpaceX and owner of social network Twitter.
Elon Musk currently sits on the throne as the richest person in the world once more, when shares of Tesla jumped about 24% in May 2023.
To compare, LVMH’s shares are up 19.7% this year, whereas Tesla’s have climbed 65.6% in the year to date.