On Wednesday Elon Musk was replaced by Bernard Arnault as the richest person in the world.
The Chief Twit, Musk once had a net worth of $340 billion but as of 10:20 am, his net worth was calculated to be $168.5 billion while Arnault was calculated to be around $172.9 billion.
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73-year-old Arnault’s wealth is largely derived from his 48% ownership of fashion giant LVMH.
It may be mentioned that Musk’s net worth dropped more than $100 billion since January.
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Bloomberg Billionaires List in the latest listing stated that Musk’s total net worth stands at $164 billion ( ?13.55 lakh crore) as compared to Arnault’s wealth of $171 billion ( ?14.12 lakh crore).
Following them is India’s Business tycoon, Gautam Adani on third with $125 billion ( ?10.32 lakh crore).
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Bernard Jean Étienne Arnault is a French business magnate, investor, and art collector. He is the co-founder, chairman, and chief executive of LVMH Moët Hennessy – Louis Vuitton SE, the world’s largest luxury goods company.