Tesla CEO Elon Musk has taken back his position as the world’s wealthiest person. According to Bloomberg Billionaires tally, he is estimated to have a net worth of 192 billion dollars (Ksh26.62 trillion).
Louis Vuitton Moét Hennessy LVMH CEO Bernard Arnault previously held the position but was overtaken by Elon Musk. His current net worth is 187 billion dollars (Ksh25.927 trillion).
Both CEO’s have been on the battle for the top position for months. According to Bloomberg’s calculations, LVMH’s stock dropped by three percent causing a fall in the CEO’s wealth. The drop is believed to have been caused by a spending slowdown in the US.
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In December last year, there was an upsurge in luxury goods sales which helped inflate LVMH’s stock price, this helped Arnault surpass Elon Musk. LVMH is the parent company to brands like Celine, Louis Vuitton and Christian Dior.
Elon Musk has been on the rise in the rich list of the world in the recent years through his fortunes which are directly connected to those of Tesla. Tesla is the biggest electric car maker and his stock in the company in his biggest asset. According to Bloomberg, he owns about 13 percent of the stock.
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Apart from Tesla, Elon Musk is also the CEO of SpaceX which is a space exploration firm. He also owns Twitter which is a social network.
