According to Forbes magazine's list of the world's richest people, Musk's net worth rose by 1.75% to $240.7 billion as of midday. The substantial surge in his wealth was largely fueled by the more than 2.5% increase in Tesla's shares.
LVMH's Chief Executive Officer Arnault, who owns Louis Vuitton, Christian Dior, and Tiffany, had his wealth decline by over 1% to $234.9 billion.
Thus, Musk surpassed Arnault, securing the top spot once again on the list of the world's richest individuals.
Amazon's founder and former world's richest person, Jeff Bezos, ranked third with a fortune of $151.9 billion.
Following Bezos were Larry Ellison, the founder and former CEO of Oracle, with a wealth of $148.1 billion, Bill Gates, the founder of Microsoft, with a net worth of $120.6 billion, and Warren Buffet, the CEO of Berkshire Hathaway, with a fortune of $117.3 billion.
Last year, Musk had acquired Twitter for $44 billion and recently changed the company's logo from a "bluebird" to an "X" while also directing the X.com domain to the site.
