Dimitrios Kambouris
Tesla (NASDAQ:TSLA) Elon Musk has once again surpassed French billionaire and LVMH (OTCPK:LVMHF) chief Bernard Arnault to claim the title of richest man in the world.
The Paris-listed shares of LVMH ended 2.6% lower on Wednesday, which pushed Arnault below Musk in the Bloomberg Billionaires Index. The stock declined 6.6% in May as global economic uncertainties grow, which could dampen luxury goods demand.
The index showed that Musk’s fortune jumped 40.3% YTD and is now valued at about $192B. Arnault’s fortune now stands at $187B, but remains ahead of Jeff Bezos, billionaire founder of Amazon, according to Bloomberg data.
Arnault replaced Musk late last year as the world’s richest man after surging luxury goods sales propped up LVMH’s (OTCPK:LVMHF) stock prices.
Shares of Tesla (TSLA) rose ~89% YTD, while SpaceX is valued at ~$137B. Musk owns 42% of SpaceX through a trust.
However, Twitter shares were valued at 33% of their purchase price last month. Musk bought the social media firm last year for $44B and owns ~79% of the company, according to available disclosures.
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Image and article originally from seekingalpha.com. Read the original article here.