Elon Musk Once Again Becomes Richest Person of the World, Louis Vuitton Chief Bernard Arnault slips to Second Position

Elon Musk, chief of electric car maker Tesla, has regained his position as the world’s richest person. He has defeated Bernard Arnault, the CEO of French luxury brand Louis Vuitton. Musk’s net worth is about $192 billion and Bernard’s is about $187 billion.

According to the Bloomberg Billionaires Index, Musk and Bernard are followed by Jeff Bezos, chief of global e-commerce giant Amazon, and Bill Gates, founder of Microsoft, one of the largest software companies, with a wealth of $144 billion and $125 billion, respectively. This index regularly ranks the richest people in the world. Due to the fall of more than two percent in the stock prices of Bernard’s company Musk has helped him overtake him in net worth. Tesla’s stock has climbed nearly 89 percent this year.

There is a tough fight between Musk and Bernard in this list of Billionaires. At the end of last year, Bernard had achieved the feat of leaving behind Musk to become the richest person in the world. Recently Musk had said that the next 12 months would be difficult for the global economy. they said that Tesla But it will also have an effect. Musk said at the company’s annual shareholder meeting that deliveries of Tesla’s Cybertruck pickup could also begin soon. He said, “Tesla is not isolated from the global economic situation. My guess is that the next 12 months can be difficult at the macroeconomic level.” With this, Musk had told that this year the company could launch full self-drive technology. This is likely to increase Tesla’s profit. The company sells full self-driving (FSD) software as an option for about $15,000.

In the last few months, the prices of Tesla’s electric cars have been cut. This has affected the margin of the company. Tesla plans to start manufacturing Electric Vehicles (EV) in India. The central government has indicated about this plan of the company. Tesla executives have discussed this with senior government officials. Many global companies want to expand their supply chain out of China and India can be a good option for them.