The Richest Man in the World: Elon Musk regained the Top Spot in the ranking

Elon Musk regained the title of the richest man in the world and overtook the owner of fashion brands Louis Vuitton and Christian Dior - Bernard Arnault.

Musk's net worth rose from just over $55 billion in January to $192 billion as the value of his Tesla electric car company increased. And Arnault's wealth fell by 24 and a half billion to $187 billion, according to the Bloomberg Billionaires Index.

After Arnault, the richest people in the world are Jeff Bezos and Bill Gates. Musk relinquished the top spot after buying the social network Twitter and Tesla's stock fell.

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