South African Elon Musk has retained his title as the world's richest man.

According to Bloomberg Billionaires, Tesla CEO Elon Musk's net worth is currently about $192 billion, compared to LVMH (LVMHF) CEO Bernard Arnault's $187 billion.

For months, the two centibillionaires, or those with more than $100 billion fortunes, have been neck-and-neck for the top slot.

According to Bloomberg estimations, Arnault's fortune fell this week due to a decline in LVMH's shares on Wednesday.

PHOTO | COURTESY Elon Musk

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Arnault eclipsed Musk in December, as his wealth increased due to a surge in luxury goods purchases, which helped boost LVMH's stock price. LVMH, one of the world's largest companies, is the parent company of brands such as Louis Vuitton, Dior, and Celine.

Meanwhile, Musk has risen rapidly up the world's wealth lists in recent years, as his fortunes are inextricably linked to those of Tesla, the electric automaker. According to Bloomberg, his most valuable asset is the company's stock, which he owns around 13% of.

Musk is also the CEO of SpaceX, a space exploration company, and the owner of the social network Twitter (TWTR).

LVMH shares are up 19.7% this year, while Tesla shares are up 65.6%.