Elon Musk loses world's richest person title to LVMH's Bernard Arnault after losing $107 billion in a year; check his net worth

© Provided by Times Now elon musk loses world's richest person title to lvmh's bernard arnault after losing $107 billion in a year; check his net worth

New Delhi: After ruling the world’s richest people list for quite some time, Elon Musk is no longer the richest billionaire in the world and has lost the title to LVMH’s Bernard Arnault. The Tesla and SpaceX boss has lost a colossal $107 billion in fortune this year.

51-year-old Musk, who took over Twitter late in October, has lost billions post the acquisition before which he was the sole member in the $200 billion wealth club. His net worth dropped below $200 billion in early November as investors dumped Tesla shares on fears that the top executive and largest shareholder of the world's most valuable electric-vehicle maker is more preoccupied with Twitter.

The billionaire is currently worth $164 billion (as of Tuesday), about $7 billion less than the richest man in the world – Arnault – who has a fortune of $171 billion, according to the Bloomberg Billionaires Index. While Musk lost nearly $4 billion in a day on Tuesday, 73-year-old Arnault made $4.13 billion, making him the wealthiest man alive.

It is worth mentioning here that India’s richest person Gautam Adani is just behind Musk and third on the list with a fortune of $125 billion.

Twitter's new boss Musk has seen his wealth dropping from a peak of $340 billion, following his purchase of the micro-blogging platform for $44 billion. This is the first time this year he has dropped from the top spot since taking it in 2021.

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Last month, the Tesla chief Musk sold nearly $4 billion worth of shares in the electric car company, SEC filings had showed. This came just a week after he closed his $44 billion acquisition of Twitter. The US Securities and Exchange Commission documents showed that Musk, who financed much of his Twitter purchase with Tesla stock, sold more than 19 million shares worth in excess of $3.9 billion.

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World’s richest people

Amazon’s Jeff Bezos is fourth on the list with a net worth of $116 billion and Microsoft co-founder, worth $116 billion, is fifth richest man in the world.

Meanwhile, another Indian industrialist and RIL chairman Mukesh Ambani is placed at the 9th place with a net worth of $89.7 billion.