Elon Musk loses world’s richest person title to Louis Vuitton boss

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Forbes says Tesla CEO Elon Musk briefly lost his title as the world’s richest person to Bernard Arnault, the chief executive of luxury brand Louis Vuitton’s parent company LVMH, on Wednesday.

Forbes added that Musk has retaken his title of the world’s richest person.

The brief slip by Musk was due to his expensive takeover of social media firm Twitter and selling stocks of his electric-car company to fund the $44 billion deal.

Arnault replace Musk at the top spot with a personal wealth of $185.4 billion, according to Forbes for some time but got back to the second spot again.

Musk, who has held the top spot on the Forbes list since September 2021, has a net worth of $185.7 billion. Musk took over the title from Amazon.com founder Jeff Bezos.