Bernard Arnault is now the world’s richest man; Musk loses title

Musk now has $168.5 billion; less than $172.9 billion net worth of Arnault

December 14, 2022

Elon Musk is no longer the world’s richest person, falls behind Bernard Arnault

According to the Bloomberg Billionaires Index, Bernard Arnault with a personal wealth of $185.4 billion, is now the world’s richest man. Bernard Arnault is the chief executive of luxury brand Louis Vuitton‘s parent company LVMH.

Last week, Arnault and his family for the first time logged personal wealth of $185.4 billion, ahead of Elon Musk who recorded a net worth of $185.3 billion, before jumping again to $190 billion.

Elon Musk, who saw his net worth tumble by more than $100 billion in 2022, has been replaced by Arnault as the world’s richest man. Elon Musk, 51, is now worth $168.5 billion (as of Tuesday), less than the $172.9 billion net worth of Arnault, 73.

The Tesla CEO’s wealth eroded further after he bought Twitter for a whopping $44 billion. Meanwhile, Tesla shares have plummeted around 58 percent to date. Tesla shares are further sliding, amid reports that Tesla will cut production at its Shanghai plant by 20 percent in December.

In January 2021, Musk became the richest person in the world for the first time, with a net worth of more than $185 billion.

[With Inputs from IANS]

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