Elon Musk has lost his crown as the world’s richest man amid a broad collapse in Tesla’s value and as he wades deeper into America’s culture wars, with each controversial tweet seeming to further erode his electric car company’s brand.
Forbes, which runs a real-time tally of the world’s richest people, said Mr Musk was worth $181.3 billion when the markets closed on Monday, a drop of $7.4 billion in one day.
He was supplanted in top spot by Bernard Arnault, whose family own the world’s leading luxury group, LVMH. Forbes valued Mr Arnault’s fortune at $186.2 billion.
At number three is India’s Gautam Adani, chairman of the Adani Group. Amazon founder Jeff Bezos and investor Warren Buffett round out the list’s top five.
Bernard Jean Étienne Arnault, born 5 March 1949) is a French business magnate, investor, and art collector.He is the co-founder, chairman, and chief executive of LVMH,Moet Hennessy, Louis Vuitton SE, the world’s largest luxury goods company