Elon Musk back at No. 1 on global rich list in an eventful week for Twitter

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Tesla CEO Elon Musk is back at the top spot on the list of the world’s richest people, having surpassed French billionaire Bernard Arnault, according to Forbes.

Musk’s net worth on July 25 stood at $242.4 billion, according to Forbes’ ‘The Real-Time Billionaires’ list.

Arnault, the chief executive of luxury brand Louis Vuitton's parent company LVMH, and his family was in the second place with a net worth of $234.6 billion.

For Musk, the development came in an eventful week, during which he replaced the iconic blue bird logo of Twitter with an ‘X’.

People on the microblogging platform have shared their thoughts on Musk becoming the “richest man again”.

Musk reclaimed the number 1 spot after adding $4.1 billion to his wealth. This took his net worth up by 1.75% to $240.7 billion. This boost in wealth stems from the over 2.5% increase in Tesla’s stock price which was valued at $266 on Monday morning, reported Forbes.

On the other hand, the net worth of Arnault witnessed a drop after it went down by over 1% ($2.4 billion) to $234.9 billion due to falling LVMH shares.

Musk lost the title of the World’s Richest Person on Friday briefly after he claimed it. His wealth slumped by $18 billion as Tesla’s shares tumbled, the report added.

On Sunday, Musk announced his plan to rebrand Twitter and soon chose a new logo for the platform replacing the blue bird. The logo, an ‘X’, went live on Twitter’s web version.

Musk also shared that X.com now redirects users to the Twitter homepage while a large ‘X’ was projected on the building of Twitter’s headquarters.