Elon Musk No Longer The World's Second Richest Person

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.

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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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