Forbes Billionaires List: Elon Musk not the richest man in world anymore

French luxury goods giant LVMH boss Bernard Arnault has officially replaced Tesla boss Elon Musk to become the richest billionaire in the world. Arnault's net worth has increased by more than $50 billion in the past year to $211 billion.

According to the Forbes list "The Real-Time Billionaires List, " Elon Musk's current worth is at an estimate of $180 billion, which is $39 billion less than the previous year.

Musk's wealth has fallen because of his $44 billion Twitter purchase which was funded by Tesla's shares. This purchase scared the investors and send Tesla stock dropping sharply next year. . Tesla gained much of those losses back this year but is still significantly lower than before Musk bought Twitter, CNN reported.


LVMH boss Bernard Arnault had a good 2022 because of record-high profits at the luxury conglomerate, which comprises Louis Vuitton, Christian Dior and Tiffany & Co. Shares of LVMH have climbed 25% over the past year.

Jeff Bezos lost the most money of any billionaire on the list ($57 billion), bringing him down from the second position to third. The loss can be attributed to Amazon shares losing nearly 40% of their value last year.

The others who made it to the list included Oracle's Larry Ellison, Microsoft's Bill Gates, Berkshire Hathaway's Warren Buffett, Bloomberg LP's Mike Bloomberg amongst others.

Mukesh Ambani, Gautam Adani, Cyrus Poonawalla and Lakshmi Mittal were the only Indians who made it to Top 100 list.

The total number of billionaires on this year's list fell to 2,640 (down from 2,688), marking the second-straight year of decline.