After briefly overtaking French billionaire Bernard Arnault as the world’s richest person on Wednesday morning, Tesla and SpaceX CEO Elon Musk was worth an estimated $215.9 billion.
However, by the end of the day, Tesla shares had retreated and Musk dropped back to second place, worth $213.5 billion, about $800 million less than Arnault. Tesla’s soaring stock price this year has helped Musk add nearly $70 billion to his fortune since January. Musk recently visited China to meet with high-level government officials and refocus on Tesla after months of managing affairs at Twitter. Meanwhile, Arnault’s luxury goods conglomerate LVMH has experienced a drop in share prices, shaving more than $20 billion off his fortune.