Elon Musk has once again ascended to the position of the wealthiest individual globally, reclaiming his title. This latest revelation comes from a comprehensive assessment conducted by Bloomberg Billionaires, estimating Musk's net worth to be approximately $192 billion. In comparison, Bernard Arnault, the CEO of LVMH, possesses a fortune amounting to $187 billion. Musk and Arnault, both referred to as centibillionaires due to their fortunes surpassing the $100 billion mark, have engaged in a fierce battle for the top spot over the past few months. However, this week saw Arnault experience a decline in wealth following a drop in LVMH's stock on Wednesday. These developments were calculated and reported by Bloomberg.


Back in December, Arnault managed to surpass Musk, benefiting from a surge in luxury goods sales that significantly boosted LVMH's stock value. LVMH, a prominent conglomerate, boasts a portfolio of renowned brands including Louis Vuitton, Dior, and Celine.


ALSO READ: Twitter Now Worth Nearly A Third Of Elon Musk's Acquisition Price


Musk's ascent to immense wealth can be attributed to his extraordinary success in recent years. His fortunes are closely tied to Tesla, the electric automaker, which has propelled him up the ranks of the world's wealthiest individuals. The primary asset driving Musk's wealth is his ownership of approximately 13 per cent of Tesla's stock, as reported by Bloomberg. Additionally, Musk holds key positions as the CEO of SpaceX, a space exploration company, and as the owner of Twitter, a popular social network.


In terms of stock performance, LVMH has witnessed a 19.7 per cent increase in its shares since the beginning of this year. On the other hand, Tesla's stock has experienced a remarkable rise of 65.6 per cent year-to-date.


ALSO READ: Jio Said To Be In Talks With Tesla To Set Up 'Private Network' At India EV Plant


This ongoing battle between Musk and Arnault for the title of the wealthiest person showcases the dynamic nature of wealth accumulation and the influence of various industries, ranging from luxury goods to electric vehicles and space exploration. The financial standings of these prominent individuals are closely followed by investors, industry experts, and the general public alike, reflecting their significant impact on global markets and society as a whole.