Tesla CEO Elon Musk wound up his visit to China on Thursday to be greeted by the news he has reclaimed the top spot as the world’s richest person.
, Musk beat out French billionaire Bernard Arnault, CEO of luxury goods company LVMH, who is worth an estimated $187 billion. Arnault’s current net worth is a significant drop from his more than $200 billion last month when he was considered the richest person in the world.
Arnault’s brands, including Louis Vuitton, Dior and Celine, saw a boom in December as the tech industry struggled, UPI points out. But LVMH’s stock shares slid about 10 percent in the last month with Arnault’s net worth dropping $11 billion in one day. While LVMH’s shares are up 19.7 percent overall this year, electric automaker Tesla’s shares — which Musk owns about 13 percent — have shot up 65.6 percent.In addition to the South African born business magnate and Arnault in the two top spots, AmazoMicrosoft co-founder Bill Gates is the fourth richest person with $125 billion.
U.S. business investor and Oracle Corporation co-founder Larry Ellison rounded out the top five with $118 billion.
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