Elon Musk is back to being the richest person in the world.
The Bloomberg Billionaires Index revealed on Thursday, June 1 that the business magnate has an estimated net worth of $192 billion (P10.8 trillion)—ahead of the net worth of LVMH’s Bernard Arnault, which is estimated at $187 billion (P10.5 trillion).
According to CNN International, Musk and Arnault “have been neck-and-neck for the top spot for months,” but the latter’s wealth got affected after a decline in his company’s stock on Wednesday, May 31.
Arnault was named the world’s richest man in December 2022 following an increase in sales of high-end goods that pushed the stock price of LVMH. The luxury company has been known as a “world leader in high quality products,” housing beloved premium brands like Dior, Celine, and Louis Vuitton.
Musk’s riches are mainly associated with his automotive firm Tesla as well as space exploration company Space X and social media platform Twitter, among others.