Musk almost lost the title of the world's richest man! LV boss surpassed him many times!

Elon Musk's position as the world's richest man was shaken several times last week and he was surpassed by French billionaire Bernard Arnault. Last Wednesday, French billionaire Bernard Arnault, president and CEO of luxury giant Louis Vuitton, led Musk for several hours on Forbes magazine's list of the world's richest people.

With a fortune approaching $185 billion, Arnault and his family surpassed Musk on the celebrity list, which is constantly updated in real time, thanks to a sharp drop in Tesla shares on the New York Stock Exchange.

Specifically, Arnault's net worth was estimated at $184.7 billion, with Musk trailing by $100 million at $184.6 billion. However, when the U.S. stock market closed at 4:00 p.m. on December 7, Musk regained the lead with an estimated net worth of $185.4 billion, surpassing the French billionaire by $700 million.

Last Thursday, Bernard Arnault topped the list again with a valuation of $186.2 billion after investors reacted negatively to reports that Musk might back loans with personal margin to pay off some of Twitter's debts and said he would sell Tesla shares. Musk closed the day with a valuation of $185 billion.

Musk Reclaims Title of World's Richest Man

With Tesla's stock price rising 5%, Twitter's current owner has become $5 billion richer as of midday Friday. That's enough for Musk to reclaim the title of the world's richest man, now worth at least $190 billion, according to Forbes.

Musk has been squeezed out of the world's richest man's spot several times since last Wednesday, and although he narrowly missed it, the results of the Forbes rankings may continue to fluctuate.

Bernard Arnault was the world's richest man for a few hours

Arnault also became the world's richest man for a few hours in May 2021, and LVMH's stock price has been almost flat this year. In recent months, the French billionaire's wealth has benefited from the improved performance of LVMH, the world's number one in the luxury industry, which achieved a net profit of about $12.62 billion in 2021.

Tesla's stock price has fallen sharply this year

This year, Musk has experienced a "dramatic collapse in Tesla's stock price," with the stock price having evaporated 56% so far in 2022. According to Forbes, Musk's wealth peaked in November 2021, with a net worth of $320 billion.

It is learned that as of December 7, Indian businessman Gautam Adani ranked third on the Forbes list with a fortune of $134.8 billion, and Amazon founder Jeff Bezos ranked fourth with $111.3 billion. 14 months ago, Bezos became the richest person on the planet for the first time.

Editor ✎Estella/

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