Elon Musk was slightly ousted as the richest person in the world by Bernard Arnault and family.
This happened after a sharp decline in the value of his investment in the electric vehicle manufacturer and a $44 billion wager on the social media company.
Elon Musk’s worth was at $185.3 billion compared to the LVMH CEO’s $185.4 billion, according to Forbes.
Musk gained his title back when Forbes confirmed his net worth was $185.7 billion.
Musk has held the top spot on the Forbes list since September 2021. He took the title from Jeff Bezos from Amazon.
Musk owns Twitter, Tesla, and SpaceX alongside two smaller start-ups, Neuralink and The Boring Company.
Arnault and Family own Christian Dior, Fendi, Givenchy, Marc Jacobs, Stella McCartney, Loewe, Loro Piana, Kenzo, Celine, Sephora, Princess Yachts, TAG Heuer, Bulgari, and Tiffany & Co.
He is also the co-founder, chairman, and chief executive of LVMH Moët Hennessy – Louis Vuitton SE, the world’s largest luxury goods company.
The two are followed by Gautam Adani, Jeff Bezos, and Warren Buffet respectively in a recent ranking by Forbes.
Since Musk’s offer for Twitter in April, Tesla’s market value has decreased by about half, and his wealth has decreased by almost $70 billion. With a commitment of $33.5 billion in equity and $13 billion in debt, Musk completed the acquisition of Twitter in October.
Also read:Elon Musk Staff Ultimatum: Commit to ‘Hardcore Twitter’ or Quit
