Elon Musk reclaimed the title of the world’s richest person again, according to the Bloomberg Billionaires Index on Thursday. He overtook luxury tycoon Bernard Arnault, who saw a drop of $5.25 billion in his net worth.

Arnault’s net worth fell to $187 billion after shares of 74-year-old Frenchman’s LVMH fell 2.6 per cent in Paris trading. Meanwhile, Musk saw a jump of nearly 2 million in his net worth to reach $192 billion.

The two billionaires have been neck-and-neck for the top spot in the billionaires’ index this year.

The rise in Musk’s wealth was also contributed by the surge in Tesla stock prices. The automotive company’s share prices have jumped around 89 per cent in 2023 so far.

The Bloomberg Billionaires Index updates the wealth figures of the world’s 500 richest people at the close of every trading day in New York.

According to the index, Amazon founder Jeff Bezos is the world’s third richest person, with a net worth of $144 billion.

The index showed that Bill Gates was the world’s fourth richest person, with a net worth of $125 billion, followed by Oracle founder Larry Elison with a net worth of $118 billion. Warren Buffet is the world’s seventh most rich person, while Mark Zuckerberg was at the 10th spot on the billionaires’ list, the Bloomberg index showed.