Elon Musk no longer the world's richest person; dethroned by LVMH's Arnault

Twitter's new boss, Elon Musk, has been displaced from his position at the top of the world's richest people list, with his wealth dropping from a peak of $340 billion, following his purchase of the micro-blogging platform.

Musk's position at the perch has since been taken by billionaire Bernard Arnault, who is valued at $172.9 billion largely derived from his 48% ownership of fashion giant LVMH.

The SpaceX and Tesla CEO's wealth has dropped to $168.5 billion, with his $44 billion spend on purchasing Twitter taking a chunk out of his net worth. This is the first time this year he has dropped from the top spot since taking it in 2021.


The Bloomberg Billionaires Index knocked off $10 billion from his fortune, following the confirmation of his Twitter acquisition in October.