Elon Musk, who saw his net worth tumble by more than $100 billion in 2022, has been replaced by Bernard Arnault, the chief executive of luxury brand Louis Vuitton’s parent company LVMH, as the world’s richest man.
According to the Bloomberg Billionaires Index, Musk, 51, is now worth $168.5 billion (as of Tuesday), less than the $172.9 billion net worth of Arnault, 73.
Last week, Arnault and his family for the first time logged personal wealth of $185.4 billion, ahead of Musk which recorded a net worth of $185.3 billion, before jumping again to $190 billion.
The Tesla CEO’s wealth eroded further after he bought Twitter for a whopping $44 billion.