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The Financial Express

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

| Updated: December 08, 2022 16:21:00


SpaceX owner and Tesla CEO Elon Musk speaks during a conversation with legendary game designer Todd Howard (not pictured) at the E3 gaming convention in Los Angeles, California, US, June 13, 2019. REUTERS/Mike Blake SpaceX owner and Tesla CEO Elon Musk speaks during a conversation with legendary game designer Todd Howard (not pictured) at the E3 gaming convention in Los Angeles, California, US, June 13, 2019. REUTERS/Mike Blake
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, Reuters reports.

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.

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