Elon Musk reclaims title of world's richest person

June 1 (UPI) -- Elon Musk has reclaimed the top spot as the world's richest person.

Bloomberg Billionaires Index released its daily rankings of the world's 500 richest people Wednesday, which put the Twitter owner and chief executive officer of Tesla and SpaceX back on top with an estimated net worth of $192 billion.

Musk beat out French billionaire Bernard Arnault, CEO of luxury goods company LVMH, who is worth an estimated $187 billion. Arnault's current net worth is a significant drop from his more than $200 billion last month when he was considered the richest person in the world.

Arnault's brands, including Louis Vuitton, Dior and Celine, saw a boom in December as the tech industry struggled. But LVMH's stock shares slid about 10% in the last month with Arnault's net worth dropping $11 billion in one day.

While LVMH's shares are up 19.7% overall this year, electric automaker Tesla's shares -- which Musk owns about 13% -- have shot up 65.6%.

In addition to Musk and Arnault in the two top spots, Amazon founder Jeff Bezos came in third with $144 billion.

Microsoft co-founder Bill Gates is the fourth richest person with $125 billion.

U.S. business investor and Oracle Corporation co-founder Larry Ellison rounded out the top five with $118 billion.