Bernard Arnault and Elon Musk

After Losing $145 Billion In 13 Months, Elon Musk Cedes Title Of World’s Richest Person To Bernard Arnault

BySamod Biobaku

Elon Musk has officially lost his spot as the world’s richest person to Bernard Arnault, the Chairman and CEO of French luxury conglomerate, LVMH Moet Hennessy Louis Vuitton as reported by The Whistler.

According to the Forbes real-time billionaires list, Bernard Arnault and family are now worth $191 billion while Musk is worth $174.9 billion.

Musk has held the position on the top of the list since September 2021, when he first overtook Amazon CEO, Jeff Bezos.

The drop in Musk’s wealth can be attributed to the drastic reduction in the price of Tesla stocks seeing as he owns 25% of the company. Prices of Tesla shares have reduced by almost half partially due to the expedited sale of shares which Musk carried out to finance his Twitter acquisition.

Musk had first lost the top spot briefly last week Wednesday following a deep plunge in the value of Tesla stock. His net-worth first dropped below $200 billion back in November as investors sold their Tesla shares due to worries that Musk was too preoccupied with running Twitter.

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