Elon Musk Briefly Loses World’s Richest Title

Elon Musk is notably the richest person on earth as he took over the title from Amazon’s Jeff Bezos in September of last year.  There was hardly any rival for the top spot as the Tesla CEO’s wealth peaked at $320 billion.

The tech billionaire frequents the news and even front pages of newspapers and magazines regarding technology and many of the companies he owns.  One of the news that garnered him top page of many news outlets is his acquisition over Twitter.  The Dogecoin fan offered to buy Twitter earlier this year.

The sale with the social media giant pushed through.  However, the Starlink boss has spent many of his time preoccupied with Twitter resulting in many investors dumping their Tesla shares.  It is estimated that Tesla lost 47% in value, thus resulting in Musk’s net worth dropping below $200 billion.

Bernard Arnault, owner of the luxury group LVMH that houses luxury brands like Louis Vuitton, Fendi, Christian Dior, Givenchy, Bulgari, and many more, has added several millions to his fortune.  He holds the second spot as the richest person on earth, whereas Gautam Adani holds third, Jeff Bezos of Amazon holds fourth, and Bill Gates of Microsoft is holding fifth.

According to Forbes, the net worth of the luxury group’s head honcho is $185.4 billion.  This was now higher than the estimated net worth of the Tesla chief which was at $185.3 last September.  Even at just a hundred million, this meant that for a brief moment, Elon Musk was toppled down by Bernard Arnault as the richest person on earth.  As trading continues, both Musk and Arnault periodically traded places for the top spot.