Elon Musk Is Once Again the Richest Person on the Planet

Justin Ray
·2 min read
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Elon Musk’s up-and-down year continues apace. Today, at least, it’s up.

After being knocked off his perch recently by LVMH CEO Bernard Arnault, the Tesla CEO has regained the top spot on the Bloomberg Billionaires Index list of the world’s most wealthy individuals. The majority of Musk’s wealth comes from Tesla’s stock, CNBC reported, and shares of the electric car company rose 24 percent in May, which led to him once again take the crown. His net worth is now estimated to be a staggering $195 billion.

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Arnault‘s fortune recently surpassed $200 billion, but he has fallen from the top spot as LVMH stock has tumbled 10 percent since April, with the French businessman losing $11 billion in a single day. Adding insult to injury, Beverly Hills voters looked to have rejected a measure that would have allowed LVMH from building its luxe Cheval Blanc hotel in the heart of the wealthy enclave. Even so, Arnault is currently not far behind Musk, with a net worth Bloomberg estimates as being $187 billion. Jeff Bezos is third on the list, with the Amazon founder’s net worth estimated to be $146 billion.

Musk was recently in Shanghai where he met senior Chinese government officials during a two-day trip, Reuters reported. He also reportedly met with Chinese Vice Premier Ding Xuexiang; if true, it would be the first time Ding is known to have had a one-on-one meeting with a foreign CEO. Despite China’s rocky relationship with America, CNBC reported that the visit indicates that Tesla sees the country as an important market.

The news that Musk is once again the most wealthy person in the world came the same week it was revealed that Twitter is worth only about a third of what he and his co-investors bought it for. Musk also serves as CEO of rocket manufacturer SpaceX. In April, the company made headlines when a rocket exploded minutes after lifting off from a South Texas launchpad. In response to the incident, NASA Administrator Bill Nelson nevertheless congratulated the company, writing on Twitter: “Every great achievement throughout history has demanded some level of calculated risk, because with great risk comes great reward.”

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