Elon Musk, the owner of Twitter and CEO of Tesla briefly lost the title of the richest man in the world on Wednesday, according to Forbes, due to a sharp decline in the value of his share in Tesla and a $44 billion bet on the social media company.
Musk briefly lost 1.6 trillion of his wealth. He was overtaken by a french billionaire, Bernard Arnault, whose family owns the world’s leading luxury group. At the time of writing, they are each worth $185.4 billion and $185.3 billion, respectively.
Tesla CEO has held the title of the world’s richest person since September 2021, replacing Amazon founder Jeff Bezos
