Elon Musk loses title of world's richest man to LVMH's Arnault: Forbes

Bernard Arnault, the chief executive of luxury brand Louis Vuitton's parent company takes the title with a personal wealth of $185.4 billion

Reuters
Published : 7 Dec 2022, 04:41 PM
Updated : 7 Dec 2022, 04:41 PM

Twitter owner and Tesla Inc boss Elon Musk lost his title as the world's richest person on Wednesday, according to Forbes, following his expensive bets to buy the social media firm and selling stocks of his electric-car company to fund the $44 billion deal. 

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

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

Tesla's shares fell about 4 percent.

Toufique Imrose Khalidi
Editor-in-Chief and Publisher