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Elon Musk regains the world’s richest person title

Elon Musk

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Elon Musk has reclaimed his status as the world's wealthiest person, which he temporarily lost to LVMH CEO Bernard Arnault a few months ago. 

With an estimated net worth of around $192 billion, the CEO of Tesla, Elon Musk, surpassed Arnault, with a net worth of $187 billion.

Both have been closely competing for the top spot for several months.

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This week, Arnault experienced a decline in wealth following a drop in LVMH's stock on Wednesday, contributing to Musk's resurgence. 

In December, Arnault overtook Musk as his fortune surged due to a surge in luxury goods sales, driving up LVMH's stock price. 

LVMH, renowned as one of the world's largest conglomerates, is home to prestigious brands such as Louis Vuitton, Dior, and Celine.

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Musk's ascent to the pinnacle of the world's rich list has been remarkable in recent years, thanks to the direct correlation between his fortunes and those of Tesla, the electric vehicle manufacturer. 

His primary asset is the company's stock, in which he holds approximately 13 percent ownership.

In addition to his role at Tesla, Musk serves as the CEO of SpaceX, a space exploration company, and owns the social network Twitter. 

While LVMH's shares have seen a 19.7 percent increase this year, Tesla's stock has risen by an impressive 65.6 percent year-to-date.

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