Elon Musk loses Forbes’ real-time world’s richest person position, as Bernard Arnault takes over 

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Elon Musk, Forbes, world's richest person, Bernard Arnault
Elon Musk

Elon Musk loses Forbes’ real-time world’s richest person position, as Bernard Arnault takes over 

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

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

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, December 7, 2022.

Musk’s displacement could be temporary and brief as the Arnaults edged out the Twitter owner by $400 million.

Forbes’ ever-changing Real-Time Billionaires list reflected Musk’s short stay in second place this morning. Utilizing stock market changes, rankings are updated every five minutes each day. Before today, the Tesla founder had maintained the top position on the list since September 2021, but his $44 billion acquisition of Twitter affected his fortune, causing it to dip below $200 billion.

Tesla shareholders, believing Musk’s main focus shifted to Twitter, let go of Tesla stock in droves this year. Musk himself sold nearly 20 million shares, worth roughly $4 billion, in the electric car company. His roles as CEO/owner of Tesla, Twitter, SpaceX, Neuralink and The Boring Company contribute to his wealth. Though Musk was temporarily dethroned today, Forbes’ billionaire rankings continue to fluctuate during day trading hours.

 

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