Business magnate and billionaire Elon Musk has once again reclaimed the top spot as the world’s richest man.
According to Bloomberg Billionaire’s Tally, Musk’s net worth is currently estimated at $192 billion, putting him $5 billion ahead of Moet Hennessy Louis Vuitton (LVMH) CEO Bernard Arnault, whose net worth currently stands at $187 billion.
Arnault bypassed the Tesla CEO last year in December following a shoot up in the stock value of his luxury goods companies.
According to CNN, Musk’s meteoric rise up the world’s rich lists in recent years is directly linked to the success of Tesla, an electric automaker company he founded years ago.
According to Bloomberg, Musk owns about 13% of Tesla; he is also the CEO of SPACEX, a space exploration firm, and the owner of the social media platform Twitter.
Musk’s new ranking comes against the backdrop of his visit to China, where, according to the BBC, he is anticipating increasing Tesla car sales in the country.
China is considered a global powerhouse mostly because of its economic boom and a huge population whose purchasing power is strong enough.
Musk, the BBC reported, was welcomed in a way other American business leaders have never been.
The broadcaster reported that he met with several Chinese authorities and was treated like a government dignitary.
Chinese officials, as the BBC further reported, said in response to these allegations that they are always open to global business leaders and look forward to working with them.