Elon Musk Reclaims Title as World's Richest Person

Elon Musk is once again the richest person in the world, after losing the title to Frenchman Bernard Arnault.

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Following price cuts on several models, the demand for electric cars (EVs) has increased. The 70% increase in Tesla's stock price this year has helped Musk's fortune.

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Musk's net worth increased to US$187.1 billion after Tesla shares surged 5.5% to US$207.63 at 4 p.m. in New York, according to the Bloomberg Billionaires Index.

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That is more than the US$185.3 billion personal fortune of a 73-year-old French businessman, Arnault, who founded LVMH.

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