Bernard Arnault Replaces Musk as the Richest Person in the World.

Elon Musk, whose wealth decreased by more than $100 billion in 2022, has been supplanted as the richest person in the world by Bernard Arnault, the head of Louis Vuitton’s parent company LVMH.

elon musk is no longer the richest person in the world

Musk, 51, is currently worth $168.5 billion (as of Tuesday), less than the $172.9 billion net worth of Arnault, 73, according to the Bloomberg Billionaires Index.

Arnault and his family registered a net worth of $185.4 billion last week, surpassing Musk, who had previously recorded a net worth of $185.3 billion before increasing it once more to $190 billion.

After purchasing Twitter for a staggering $44 billion, the Tesla CEO’s wealth continued to decline.

In November of last year, the 51-year-net old’s worth reached a peak of $340 billion.

Tesla shares have fallen almost 58% since the beginning of the year.

Meanwhile, Tesla shares are further sliding, amid reports that Tesla will cut production at its Shanghai plant by 20 per cent in December.

Much of it has come on Twitter.

A user tweeted at Musk on Monday asking about the suffering of Tesla investors and Musk responded withΒ the mathematical equation for net present value, which takes into account present cash inflows and outflows.

Tesla remains the most valuable U.S. car company, according to the Associated Press.

Written by Istafa Ali

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