Elon Musk’s wealth soars $33B a day, outperforming LVMH chairman Bernard Arnault

Musk remains the richest man in the world with a net worth of $270 billion, up 18% since the beginning of the year, according to the Bloomberg Billionaires Index.

The surge was driven by a 22% rise in Tesla shares, hitting their highest level since 2013, following the company’s announcement of a $2.5 billion profit in the third quarter – the largest in a year, Bloomberg reported.

Musk projected Tesla sales to jump 20-30% next year. He added that Cybertruck electric pickup truck has recorded the first quarterly profit.

Tesla shares account for around 75% of Musk’s assets.

"My prediction is Tesla will become the most valuable company in the world, and probably by a long shot," Musk said in a recent webcast.

Arnault, chairman and CEO of luxury fashion giant LVMH Moet Hennessy Louis Vuitton, added $4.5 billion in wealth Thursday, the second biggest gain in the world.

He now ranks fifth on the global billionaire list with a net worth of $181 billion.

His wealth, however, has fallen 12.6% year to date amid the company’s disappointing financial results due to declining demand for luxury goods.