Jun 2, 2023

Elon Musk: Twitter boss reclaims title of world's richest person

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. Mr 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, shares in Tesla - the company from which Mr Musk derives most of his wealth - fell sharply amid concerns that his takeover of the social media platform Twitter was affecting his leadership. Tesla shares have bounced back by almost 92% since the start of this year as investor nerves have eased and Mr Musk has announced his replacement as Twitter chief executive. 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 Mr Arnault's children hold management positions at brands in the group.

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