The Daily Beast reports:
Elon Musk lost the title of world’s richest person on Wednesday, according to Forbes’ billionaire rankings. The Tesla CEO lost $3.4 billion of his net worth overnight as the electric car company’s stock plummetted.
So far this year, Musk has lost more than $100 billion to the carmaker’s tanking stock, though previous losses didn’t affect his title as the wealthiest billionaire.
Instead, the man taking the crown in Forbes’ real-time index on Wednesday was Bernard Arnault and his family, the French CEO of luxury goods conglomerate LVMH.
Read the full article.
Semafor points out that the Forbes list only includes those with “publicly known wealth.” Among those not listed are Vladimir Putin and members of the Saudi royal family. Musk could easily retake the top spot depending on the stock performance of Tesla.
JUST IN – LVMH CEO Bernard Arnault & family awarded the title of richest person in the world, Elon Musk second: Forbes pic.twitter.com/4rWn3aCvJ3
— Insider Paper (@TheInsiderPaper) December 7, 2022
— Daily Mail Online (@MailOnline) December 7, 2022
Bernard Arnault overtook Elon Musk again—for the second time today—to become the world’s richest person. He was worth an estimated $184.7 billion, with Musk trailing him by $100 million, worth $184.6 billion. https://t.co/bawfpy8AZC
— Forbes (@Forbes) December 7, 2022