Elon Musk's wealth has soared by $NZ 91 billion this year. Photo: AFP
Elon Musk has reclaimed his title as the world's richest person, knocking the boss of luxury goods giant LMVH, Bernard Arnault, off the top spot.
His net worth has soared by $US55.3 billion ($NZ91b) since January to $192b, after a rise in the value of his electric car company, Tesla.
Arnault's fortune has fallen by $24.5b to $187b, according to Bloomberg's Billionaires Index.
He is followed by Jeff Bezos and Bill Gates in third and fourth positions.
Arnault, 74, had overtaken Mr Musk, 51, on the the rich list in December when shares in LMVH jumped as demand for luxury goods rebounded.
At the same time, shares in Tesla - the company from which Musk derives most of his wealth - fell sharply amid concerns that his takeover of the social media platform Twitter was affecting his leadership.
However, Tesla shares have bounced back by almost 92 percent since the start of this year as investor nerves have eased and 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.
By contrast, LMVH - 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 percent since the start of the year.
Arnault, who co-founded the luxury goods giant in 1987, owns a majority stake in the business, which is Europe's most valuable firm.
Bernard Arnault, centre, with his daughter Delphine and his son Antoine. Photo: AFP
In January the Frenchman appointed his daughter Delphine Arnault, 47, as head of his fashion house Dior as part of a shake-up at LMVH.
All five of 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 $146b. Gates, who co-founded Microsoft, is worth $126b.
-BBC
