Elon Musk loses title as world’s richest person to LVMH’s Bernard Arnault whose wealth tops $170.6B
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Elon Musk LOSES title as world’s richest person to Bernard Arnault after LVMH CEO’s wealth tops $170.6bn, according to Bloomberg Index: Twitter boss’s net worth falls to $163.1bn after Tesla’s stock plunge wiped out $100 billion of his fortune
- Elon Musk lost his title of richest man in the world to Bernard Arnault on Wednesday
- Musk is worth $163.1 billion and Arnault $170.6 billion, according to the Bloomberg Index.
- This year has seen Tesla shares drop, costing Musk an estimated $100B
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Elon Musk is no longer considered the richest person in the world.
Musk, 51, lost his top position on Tuesday to Louis Vuitton group boss Bernard Arnault after a prolonged slide in Tesla’s share value, which has cost him more than $100 billion this year, according to the Bloomberg Billionaires Index.
Arnault, 73, is the chairman and chief executive of LVMH, the luxury goods conglomerate that has brands like Dior, Tiffany and Bulgari, and is now worth an estimated $170.6 billion.
Musk’s value now stands at $163.1 billion, according to the Bloomberg Index.
Elon Musk is no longer considered the richest person in the world. His worth has dropped to $163.1 billion, according to the Bloomberg Billionaires Index.
Bernard Arnault is the Chairman and CEO of LVMH, the luxury goods conglomerate that is the parent of brands like Dior, Tiffany and Bulgari, and is now worth an estimated $170.6 billion.
Musk’s value in recent years has largely been attributed to the value of Tesla, which soared during the pandemic as the company turned profitable but suffered this year in part due to concerns about production.