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Elon Musk lost the title of richest person in the world

Elon Musk Bernard Arnault
Elon Musk (left) and Bernard Arnault (right).Rashid Umar Abbasi/Reuters; Drew Angerer/Getty Images
  • LVMH CEO Bernard Arnault has become the richest person in the world, surpassing Elon Musk.

  • Musk has lost over $100 billion this year as Tesla's share continue to slide.

  • The Tesla CEO became the world's richest person in 2021 after overtaking Amazon founder Jeff Bezos.

Elon Musk is no longer the richest person in the world.

The Tesla CEO gave up the top spot on Forbes' Billionaires List to Bernard Arnault, the CEO of the French company that owns Louis Vuitton, last week. On Tuesday, Musk also temporarily lost the top spot on Bloomberg's Billionaires Index as the net worth of both men continues to be in flux.

Forbes currently estimates Arnault's fortune to be worth about $188.6 billion, while Musk's is valued at $176.3 billion. Meanwhile, Bloomberg showed Musk's net worth as about $1 billion higher than Arnault's, as of Tuesday afternoon.