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.
Indian billionaire Gautam Adani maintained the third spot with a total net worth of $125 billion followed by Amazon chief Jeff Bezos and Bill Gates, both at at $116 billion.
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