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Elon Musk loses title of world richest man to Bernard Arnault

Dec 7, 2022

Elon Musk has lost his title as the world’s richest person after selling Tesla stocks to fund the $44 billion purchase of Twitter.

 

Bernard Arnault, the chief executive of luxury brand Louis Vuitton’s parent company LVMH, and his family took the ‘world richest’ title with a personal wealth of $185.4 billion, according to Forbes.

 

Musk, who has held the top spot on the Forbes list for world’s richest since September 2021, now has a net worth of $185.3 billion.

 

Tesla’s shares fell about 4 percent in morning trading on Wednesday, Dec. 7.