Money
Musk loses crown as world’s richest person to French CEO
Elon Musk is many things, but as of now, he is no longer the world’s richest person
Bernard Arnault, chairman and CEO of luxury goods maker LVMH has taken the crown
It is the first time the Tesla and SpaceX owner has slipped from the top of the rankings since he overtook Amazon founder Jeff Bezos last year.
According to Forbes, The Luxury Goods Maker responsible for Moet, Hennessy and Louis Vuitton is around 10 more billion dollars richer than Musk.
Arnault’s net worth now stands at $190.1 billion, while Musk is worth $181.3 billion, according to Forbes.
Arnault, 73, owns 48% of LVMH.
Musk’s wealth is largely tied to the price of Tesla stock, which has lost more than half its value since January.