Elon Musk Has Been Toppled Off As World’s Richest Person, According To Forbes

It’s been a rocky moment for Elon Musk, who has now apparently lost the position of the world’s richest person. According to Forbes’ Real-Time Billionaires list, the Chief Twit was recently surpassed by LVMH CEO Bernard Arnault. 

Arnault now stands as the most wealthy person on the planet with a net worth of US$186.2 billion, while Musk’s value has decreased by US$394 million to US$185 billion. 

According to the publication, the change could be due to LVMH maintaining a steady stock price for most of the year, whereas Tesla has seen a “dramatic collapse” of its stock, decreasing by a whopping 56% in 2022. 

This is a dramatic change from where the Tesla head was at a similar time last year, when his wealth peaked at an astonishing US$320 billion in November 2021. 

As CNN notes, Musk recently sold off an estimated US$4 billion worth of Tesla shares in a bid to fund his controversial US$44 billion purchase of Twitter. Though, it can be rather complicated to pinpoint the billionaire’s exact net worth, as most of his money lies in private companies.

For those curious, Indian mogul Gautam Adani comes in third at US$135 billion, while Jeff Bezos trails in fourth place with an estimated net worth of US$113.6 billion at the moment. 

Of course, the positions and wealth of these billionaires do fluctuate according to market changes or large acquisitions, so you could see Musk back in the front seat as the world’s richest person in no time. 

[via CNN and Forbes, cover image via Philippe Porter | Dreamstime.com]