According to the Bloomberg Billionaires Index, Elon Musk’s assets are $192.3 billion, while Bernard Arnault’s is $186.6 billion.
Elon Musk is once again the richest person in the world, surpassing Bernard Arnault in the ranking of the 500 richest people in the world according to the Bloomberg Billionaires Index. Tesla CEO’s net worth is estimated at around $192 billion, versus LVMH conglomerate Bernard Arnault’s $187 billion, Musk passed the 74-year-old luxury tycoon after shares in LVMH (which owns brands like Louis Vuitton, Fendi and Hennessy) fell 2.6% on Wednesday 31 May in trading on the Paris Stock Exchange.
Shares of LVMH have plunged about 10% since April
Arnault’s overtaking took place in December, when the technology industry had been in difficulty, while luxury had shown some resistance in the face of inflation. Now, amid mounting signs of slowing economic growth, particularly in China’s critical market, shares of LVMH have plunged about 10% since April, wiping $11 billion off Arnault’s net worth in a single day. Musk has earned more than $55.3 billion this year, mostly thanks to Tesla. The Austin-based automaker, which accounts for 71% of its assets, has seen 66% year-over-year growth.