Business magnate Elon Musk misplaced his title Tuesday as “the world’s richest person” to Bernard Arnault, chairman and CEO of French trend powerhouse LVMH Moët Hennessy Louis Vuitton.
Arnault, 73, was on high of Forbes’ Real-Time Billionaires List with a web price of $191.2 billion, whereas Musk ranked second with $185.1 billion as of 10.15 a.m. EDT.
The 51-year-old CEO of Tesla, SpaceX and Twitter had held the highest spot since September 2021 when his wealth surpassed Amazon founder and former-CEO Jeff Bezos.
The decline in Musk’s wealth, largely tied to Tesla shares, comes in the future after electrical carmaker Tesla noticed its inventory worth plummet 6.3%.
Musk owns round 14% of Tesla shares and greater than 40% of SpaceX, which is a personal agency, whereas Arnault owns roughly 60% of LVMH.
The market worth of Tesla was round $520 billion Tuesday and LVMH greater than $370 billion.
