Elon Musk has reclaimed his title as the world's richest person knocking the boss of luxury goods giant LMVH Bernard Arnault off the top spot

Musk and the 74-year-old Frenchman have been neck-and-neck for the top spot this year in the Bloomberg Billionaires Index a listing of the world's 500 richest people

Tesla stock surge boosts Musk's net worth to $192 billion

Elon Musk has seen a turnaround in his fortunes with shares of Tesla rebounding 26 per cent in a month

The biggest challenge Musk faces is the ongoing troubles at his newest acquisition Twitter which had been struggling financially even before the takeover

The Tesla CEO saw his wealth 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

Besides Tesla 51 year old Musk also heads rocket company SpaceX and Neuralink a start-up that is developing ultra high bandwidth brain machine interfaces to connect the human brain to computers