Elon Musk Loses World's Richest Title to Louis Vuitton's Bernard Arnault

Tesla CEO and Twitter owner Elon Musk lost the title of "world's richest man" to French businessman Bernard Arnault, CEO of luxury goods group Louis Vuitton "LVMH".

According to the "Bloomberg" classification of the largest wealth in the world, Arnault's wealth amounts to $ 170.6 billion, while Musk's wealth has reached $ 163.1 billion, knowing that his wealth has declined by more than $ 100 billion since last January.

This is the first time that Musk has not topped the "Bloomberg" index since it fell to second place in September 2021.

This comes in a turbulent year for Musk, with the US Federal Reserve tightening monetary policies, which affected the decline in Tesla shares by 50 percent, as well as the loss of $ 10 billion since the signing of the Twitter acquisition deal.

Musk also lost the lead in the "Forbes" ranking last Monday, after losing $ 7.4 billion, or about 4 percent of his total wealth, bringing his fortune to $ 181.3 billion, compared to $ 187.1 billion for his French competitor.

At the beginning of the year, Forbes estimated Musk's net worth at $304.2 billion, which means that his wealth has declined sharply since that time.