The man who was briefly the richest person in the world

Published on Jun 01, 2023 at 3:03 PM (UTC+4)
by Kate Bain

Last updated on Jun 02, 2023 at 2:15 PM (UTC+4)
Edited by Kate Bain

The man who was briefly the richest person in the world

Elon Musk is once again the richest person in the world. 

The Tesla CEO’s net worth was just estimated at $192 billion, which means he’s knocked the head of Louis Vuitton (LVMH) off the top of the leaderboard. 

LVMH CEO Bernard Arnault briefly surpassed Musk in December last year, but according to Bloomberg Billionaires Index, now trails him with a net worth of ‘just’ $187 billion.

READ MORE! Elon Musk’s brain chip company gets approval to test on humans

Musk’s rise to the top spot this week is due to LVMH’s stock taking a slide on Wednesday. 

LVMH is a French multinational that is home to more than just Louis Vuitton. 

It’s an empire that houses about 75 fashion and cosmetics brands including Christian Dior, Fendi, TAG Heuer, and Sephora. 

LVMH also acquired Tiffany & Co in 2021 for $15.8 billion in what was the largest luxury brand acquisition ever.

Musk’s fall from the number one spot in December largely stemmed from his messy $44 billion Twitter takeover. 

Until then, Musk had held the title since September 2021, when he took it over from Amazon boss Jeff Bezos. 

Musk’s rise to the number one spot in 2021 was largely due to the success of Tesla. 

The EV maker has enjoyed massive success since launching in 2003 and Musk owns about 13 percent of the company’s stock.

Musk hasn’t put all his eggs in one basket either. 

The billionaire owns six companies including Tesla, Twitter, SpaceX, The Boring Company, Neuralink and the newly-founded AI company called ‘X.AI’. 

Neuralink just made headlines last week after it was given FDA approval to start testing on humans. 

The company now plans to implant a computer chip inside a human’s brain. 

With the implant, the company wants to treat various conditions, including restoring vision in the blind and mobility in people with paralysis. 

Up until now, Neuralink has been testing its chips in monkeys. 


Kate Bain

Kate Bain is the Page Editor at She is based in Dubai and coordinates coverage of the latest news across automotive, technology, and lifestyle. Kate has a bachelor's degree in business and post graduate in journalism. She is an experienced editor and journalist who has worked for News Corp, Daily Mail Australia, and Sky News. When she's not at work, you'll find her attached at the hip to her dog, Thor. Kate is currently on maternity leave following the birth of her first child.