The world’s richest man, Elon Musk, has recaptured his title.
According to a Bloomberg Billionaires list, the net worth of the CEO of Tesla (TSLA) is currently projected to be at $192 billion, compared to Bernard Arnault of LVMH (LVMHF), whose net worth is $187 billion.
The two centibillionaires—a word for those whose net worth exceeds $100 billion—have been vying for the top spot for months.
According to estimations by Bloomberg, Arnault’s wealth decreased this week as a result of a decline in LVMH’s shares on Wednesday.
As a result of a surge in sales of luxury products that raised the price of LVMH’s stock, Arnault surpassed Musk in wealth in December. Brands like Louis Vuitton, Dior, and Celine are produced by LVMH, one of the largest companies in the world.
As his riches are closely tied to those of Tesla, the electric car manufacturer, Musk has experienced a spectacular rise to the top of the world’s rich lists in recent years. His largest asset is the company’s stock, which, according to Bloomberg, he owns around 13% of.
Aside from Tesla, Musk serves as the CEO of SpaceX, a company dedicated to space exploration, and he also owns Twitter (TWTR).
While shares of Tesla have increased by 65.6% so far this year, those of LVMH have increased by 19.7%.
