Tesla CEO Elon Musk has slipped down in the World Rich Rank As Bernard Arnault Takes Over.
LVMH Chairman Bernard Arnault has overtaken Elon Musk to become the world's second-richest person. His fortune saw a decrease after Tesla's share fell by 2.2 percent on Monday. On Monday, his price fell by more than $3 billion, while on Tuesday, he gained $266 million.
Bernard Arnault is the world's new second-richest person. Photo Source: The Business of Fashion
In February, the 49-year-old became the world's richest person dethroning Amazon founder Jeff Bezos after Tesla's share increased more than 750% last year alone. For a month or so, there were frequent changes in the number one position as Musk and Bezos went back and forth.
According to Bloomberg Billionaires Index, the Space X Founder's net worth is $161 billion, whereas 72-year-old French businessman Arnault is richer by a billion dollars. Elon will likely overtake Bernard in the coming days. Meanwhile, Jeff Bezos stands in the number one position with a net worth of $188 billion.
Elon Musk has lost around $9 billion in wealth this year alone. Photo Source: ED Times
These days, the popular cryptocurrency Bitcoin's price is also on the fall after Musk's recent statement that Tesla would no longer accept bitcoin for payment. The South African-born business magnate revealed that his electric automobile manufacturer, Tesla, bought $1.5 billion worth of bitcoin.
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