Elon Musk regains title as world's richest person, surpassing Bernard Arnault

Elon Musk has regained his title as the richest person in the world, according to the Bloomberg Billionaires Index.

He surpassed Bernard Arnault, a luxury tycoon, after shares of Arnault's company, LVMH, fell 2.6% in Paris trading on Wednesday.

Musk's wealth is primarily due to his ownership of Tesla, which has gained more than $55.3 billion this year.

Meanwhile, Arnault's fortune has decreased due to a decline in the global economy and the luxury industry's resilience fading.