Musk experienced a recent decline in Tesla's stock over the past few months. However, in a recent report by Bloomberg, it was highlighted that he has once again surpassed Bernard Arnault's net worth of $187 billion, to become the richest person in the world with an estimated net worth of $192 billion.
It is worth noting that both businessmen have fortunes over $100 billion and have been competing for the top spot for months. In December last year, Arnault surpassed Musk in net worth after Tesla saw a decline in its fortune. However, this year Musk's fortune climbed due to the success of Tesla, SpaceX, and Twitter, while the owner of LVMH experienced a decline in his company's fortunes.
The Luxury market has seen a decline in the past few months since big markets like China are not buying as much as they used to before. Since April, Louis Vuitton Malletier (LVMH) has seen a 10 per cent decline, as a result, Bernard Arnault lost $11 billion a year.
Musk made a lot of money this year, about $55.3 billion, mostly because of the car company he owns. Tesla's value has gone up a lot this year, by about 66%. Most of Musk's money comes from Tesla -about 71%. In total, Musk is now worth about $192.3 billion.
Recently, Musk met a Chinese foreign minister during his visit to China. Although the details of this conversation have not been made public yet, but it has been said that the chairman of the largest battery manufacturer hosted a dinner for Musk, and they both seem to be in a business conversation.
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