Elon Musk crowned world's richest man once again

According to the Bloomberg Billionaires Index, the Tesla CEO has retaken the spot from the owner of LVMH, Frenchman Bernard Arnault.

Elon Musk is once again the world's richest person after significantly increasing his earnings compared to the previous year. According to the Bloomberg Billionaires Index, which is updated daily, Musk has amassed a fortune of $207 billion. Compared to this point of last year, Elon Musk has earned $70 billion, which is also the largest annual change in Bloomberg's ranking.

With his latest earnings, the Tesla CEO has unseated Bernard Arnault from the top spot. The French businessman is credited with $187 billion through his firms in the luxury sector. His conglomerate is LVMH, Moët Hennessy-Louis Vuitton, and he was the first European to top the list.

Musk controls 13% of the company that made him famous, Tesla. The billionaire is increasingly investing in Texas and plans to redraw the Lone Star State's rural landscape. It was there that Musk chose to set up one of his largest production plants, which is based in Austin. According to Fortune magazine, Tesla assets account for 71% of Elon Musk's wealth. The Austin plant broke production records in May, making more than 5,000 Tesla Model Ys.

Elon Musk changes the Texas landscape

Also in Texas, Elon Musk plans to build his own city in Bastrop County, near the SpaceX facilities. The site, named Snailbrooke, will be dedicated to the construction of a utopian city for employees of Twitter, SpaceX, Tesla and The Boring Company.

In March of this year, some of Musk's ideas for this city were unveiled, with plans to build about 100 homes. The construction of the city has the support of Kanye West and Grimes, Elon Musk's ex-partner.

Alongside Elon Musk and Bernard Arnault, Jeff Bezos, Bill Gates, Larry Ellison, Warren Buffett, Carlos Slim and Amancio Ortega also appear in the top positions.