Tesla CEO Elon Musk is once again the world’s richest person

Elon Musk is once again the richest person in the world, according to the Bloomberg Billionaires Index’s updated figures on Thursday.

The Tesla boss saw his fortune jump 40.3% this year to $192 billion, after shares of the electric car maker rose about 24% in May, according to Eikon data. Musk owns about 13% of Tesla, according to FactSet data.

Musk was knocked out of the top spot by LVMH CEO Bernard Arnault in December, after shares in Tesla plunged after he bought Twitter for $44 billion. Most of Musk’s fortune is linked to Tesla’s shares.

He is also the CEO of the rocket manufacturer SpaceX and owns the social media company Twitter.

Musk left Shanghai on Thursday, following a high-profile two-day visit. While in China, he met with Foreign Minister Qin Gang and other Chinese officials. The visit, which comes amid simmering tensions between the US and China, was a sign that China is an important market for Tesla, analysts have said.

During the visit, Qin sought to assure Musk that China is open to foreign businesses and will continue to offer a friendly business environment to them. Musk is said to have also signaled further expansion in China.

Shares of Tesla closed 1.38% higher on Wednesday at $203.93.

Tesla stock hit a two-year low in November when the share price fell to $167.87, the lowest since November 2020. That was partly due to a selloff that accelerated in the wake of Musk’s takeover of Twitter.

LVMH’s Arnault now trails Musk as the world’s second-richest man at $187 billion, trailing Jeff Bezos, the billionaire founder of Amazon, according to Bloomberg data.