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Elon Musk regains spot as richest person in world with $187.1bn net worth

Elon Musk has regained his spot as richest person in the world, with his net worth reaching an estimated $187.1bn, according to the Bloomberg Wealth Index.

Last year, the Tesla co-founder lost the top rank to Bernard Arnault of luxury congolmerate LVMH, as shares in the automaker declined last winter.

This is a breaking news story and will be updated with new information.