Elon Musk no longer world's richest person
LVMH CEO Bernard Arnault has overtaken Musk
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The title of the world’s richest person no longer belongs to Elon Musk.
On Forbes’ real-time billionaires list, Musk currently holds the No. 2 spot, with his net worth estimated to be $176.6 billion. It has fallen roughly $4.7 billion since 5 p.m. Monday, according to the list.
Elon Musk attends the 2022 Met Gala at The Metropolitan Museum of Art on May 2, 2022, in New York City. (Dimitrios Kambouris/Getty Images for The Met Museum/Vogue / Getty Images)
Bernard Arnault, the CEO of French luxury giant LVMH, has overtaken the Tesla CEO. Arnault and his family’s fortune is now worth $188.6 billion, more than anyone else in the world, per Forbes.
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Rounding out the top five richest people on the Forbes real-time billionaires list are Adani Group chairman Gautam Adani at $134 billion, Amazon founder Jeff Bezos at $115.4 billion and Berkshire Hathaway CEO Warren Buffett at $108.4 billion.
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Musk's current slide to the No. 2 spot comes as Tesla's shares are down more than 3% today and more than 50% year-to-date. Musk is Tesla’s largest individual shareholder, owning an approximately 14% stake.
FILE - Elon Musk, Tesla CEO, attends the opening of the Tesla factory in Gruenheide, Germany, March 22, 2022. (Patrick Pleul/Pool via AP / AP Newsroom)
His fortune reportedly briefly dipped below Arnault’s last week. On Dec. 17 last year, the Tesla CEO's net worth was estimated to be $245.1 billion, according to Forbes.
SpaceX CEO Elon Musk congratulates teams competing on the Hyperloop Pod Competition II at SpaceX's Hyperloop track in Hawthorne, California, Aug. 27, 2017. (AP Photo/Damian Dovarganes, File / AP Newsroom)
In addition to helming Tesla, the billionaire serves as CEO of SpaceX and Twitter. He became Twitter’s chief executive in late October when he completed his $44 billion acquisition of the social media company following a lengthy legal battle.
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Musk also co-founded Neuralink, OpenAI and The Boring Company.