Elon Musk

Elon Musk has restored his status as the world’s richest person, dethroning Bernard Arnault, the CEO of luxury goods conglomerate LVMH.

His net worth has increased by $55.3 billion (£44.44 billion) since January to $192 billion, thanks to a spike in the value of his electric car company Tesla.

According to Bloomberg’s Billionaires Index, Mr Arnault’s fortune has dropped by $24.5 billion to $187 billion.

In third and fourth place, respectively, are Jeff Bezos and Bill Gates.

Mr Arnault, 74, surpassed Mr Musk, 51, on the rich list in December when LVMH shares surged as demand for luxury goods recovered.