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Elon Musk: Should be worth 192 billion dollars

Photo: Frederic J. Brown / AFP

Among other things, weakening demand at Tesla in China knocked Elon Musk off the throne, and now the US entrepreneur is once again considered the richest man in the world in the Bloomberg billionaires index. He replaced Bernard Arnault, the head of the French luxury goods group LVMH with brands such as Louis Vuitton, Fendi and Hennessy. He has been in a neck-and-neck race with the Tesla boss for months.

Bloomberg estimates say that Musk's fortune of $192 billion is now about five billion dollars ahead of Arnault ($187 billion). In third place is Amazon founder Jeff Bezos ($144 billion).

Bloomberg justifies the reason for the comeback on the list of the super-rich with a recent sharp rise in Tesla shares – by 66 percent so far this year. The increase in stock market value also caused Musk's fortune to grow tremendously.

Still at the bottom of the »Forbes« list

In addition, according to Bloomberg, the luxury goods business is weakening. The change in pole position took place on Wednesday evening after LVMH's shares fell 2.6 percent in Paris trading. Most recently, Arnault had made headlines with the acquisition of the jewelry chain Tiffany.

Musk's comeback did not seem self-evident for a long time. In 2022, Tesla had lost around half of its market value and Musk's net worth shrank by about $70 billion after the entrepreneur made an offer for Twitter. Musk acquired the network in October with the help of $13 billion in loans and a $33.5 billion equity commitment.

On the other hand, Bernard Arnault and his family are still at the top of Forbes' "rich list" – with an estimated fortune of $216.4 billion. Musk "only" comes to 200.2 billion dollars here.

In addition to Tesla, Musk also runs the rocket company SpaceX – and Neuralink, a start-up that develops ultra-high-bandwidth brain-machine interfaces to connect the human brain to computers.