Elon Musk loses world's richest person title to LVMH's Bernard Arnault

New York: Elon Musk, once worth as much as $340 billion, has been displaced as the world’s richest person by Louis Vuitton CEO Bernard Arnault. Musk, 51, has seen his fortune tumble by more than $100 billion since January to $163.6 billion, according to the Bloomberg Billionaires Index. That’s less than the $170.8 billion net worth of Arnault, 73, whose wealth largely derives from his 48% ownership of fashion giant LVMH. Musk’s fall from atop the rankings — the first time that’s happened since he was No. 2 in September 2021 — caps a tumultuous year for the frenetic billionaire. He shocked the world in April with his offer to take Twitter private for $44 billion, in a brazen display of how the wealthiest individuals could wield their massive fortunes. 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