Tesla CEO Elon Musk once lost the throne of the world's richest man, Louis Vuitton chairman Bernard Arnault beyond. Musk then regained that position, but the lead was slim.

Data from the "Forbes" rich list shows that by Wednesday afternoon, the wealth of Musk and Arnault was neck and neck. Arnott's net worth once reached $185.8 billion, ahead of Musk's $185.7 billion.

At the time, Tesla’s stock price was down nearly 4%, giving it a market value of just over $541 billion. Tesla shares have fallen nearly 57% so far this year.

However, as of Wednesday's close, Tesla's stock price decline narrowed to 3.2%, and its market value increased to $549.6 billion.

Musk's wealth also increased to $185.4 billion, $700 million more than Arnott's. On the Bloomberg Billionaires Index, Musk has a net worth of $179 billion, with an even bigger lead over Arnott at around $14 billion.

Tesla stock is Musk's main source of wealth. Musk's wealth has evaporated by more than $100 billion this year due to the sharp decline in Tesla's stock price.

On the other hand, Musk's $44 billion acquisition of Twitter also took a toll on his fortune, as he sold some of his Tesla shares to raise funds. His Twitter focus has also led some investors to question Tesla's prospects.


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