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| Elon Musk: Twitter boss reclaims title of world's richest person | Elon Musk: Twitter boss reclaims title of world's richest person |
| (about 8 hours later) | |
| Elon Musk has reclaimed his title as the world's richest person, knocking the boss of luxury goods giant LVMH, Bernard Arnault, off the top spot. | |
| His net worth has soared by $55.3bn (£44.44bn) since January to $192bn, after a rise in the value of his electric car company Tesla. | |
| Mr Arnault's fortune has fallen by $24.5bn to $187bn, per Bloomberg's Billionaires Index. | |
| He is followed by Jeff Bezos and Bill Gates in third and fourth positions. | He is followed by Jeff Bezos and Bill Gates in third and fourth positions. |
| Mr Arnault, 74, had overtaken Mr Musk, 51, on the the rich list in December when shares in LVMH jumped as demand for luxury goods rebounded. | |
| At the same, shares in Tesla - the company from which Mr Musk derives most of his wealth - fell sharply amid concerns that his takeover of the social media platform Twitter was affecting his leadership. | At the same, shares in Tesla - the company from which Mr Musk derives most of his wealth - fell sharply amid concerns that his takeover of the social media platform Twitter was affecting his leadership. |
| Tesla boss Musk on first China trip in three years | Tesla boss Musk on first China trip in three years |
| Who is Linda Yaccarino, Twitter's 'superwoman'? | Who is Linda Yaccarino, Twitter's 'superwoman'? |
| However, Tesla shares have bounced back by almost 92% since the start of this year as investor nerves have eased and Mr Musk has announced his replacement as Twitter chief executive. | However, Tesla shares have bounced back by almost 92% since the start of this year as investor nerves have eased and Mr Musk has announced his replacement as Twitter chief executive. |
| His visit to China this week to discuss Tesla has also sparked excitement, while the car firm is benefiting from the rise in interest in artificial intelligence. | His visit to China this week to discuss Tesla has also sparked excitement, while the car firm is benefiting from the rise in interest in artificial intelligence. |
| By contrast, LVMH - which owns brands including Louis Vuitton and Christian Dior - has gone into reverse. | |
| After hitting a record high in April, its shares have fallen sharply and are down 16% since the start of the year. | After hitting a record high in April, its shares have fallen sharply and are down 16% since the start of the year. |
| Mr Arnault, who co-founded the luxury goods giant in 1987, owns a majority stake in the business, which is Europe's most valuable firm. | Mr Arnault, who co-founded the luxury goods giant in 1987, owns a majority stake in the business, which is Europe's most valuable firm. |
| In January, the Frenchman appointed his daughter Delphine Arnault, 47, as head of his fashion house Dior as part of a shake-up at LVMH. | |
| All five of Mr Arnault's children hold management positions at brands in the group. | All five of Mr Arnault's children hold management positions at brands in the group. |
| According to Bloomberg, Amazon founder Jeff Bezos is the world's third richest person with a fortune of $146bn. Mr Gates, who co-founded Microsoft, is worth $126bn. | According to Bloomberg, Amazon founder Jeff Bezos is the world's third richest person with a fortune of $146bn. Mr Gates, who co-founded Microsoft, is worth $126bn. |
| Related Topics | Related Topics |
| Elon Musk | Elon Musk |
| Tesla | Tesla |
| Jeff Bezos | Jeff Bezos |
| Bill Gates | Bill Gates |