Tesla CEO Elon Musk has reclaimed the title of the world’s wealthiest person, surpassing LVMH Chairman and CEO Bernard Arnault.
Musk and the luxury tycoon have been neck-and-neck for the top spot this year in the Bloomberg Billionaires Index, a listing of the world’s 500 richest people.
LVMH shares have tumbled about 10 percent since April, at one point wiping $11 billion from Arnault’s net worth in a single day.
Musk’s rise in the position was due to the shares of Tesla surging to their highest level this year. As of Sunday, Musk’s fortune is now valued at about $221 billion, according to the index, while Arnault’s is about $189 billion. (Bloomberg)