Elon Musk No More The Richest Person On Earth; LV’s Bernard Arnault Overtakes Him Twice In A Day

Elon Musk, who is the CEO of Twitter and Tesla, has ceded his No. 1 position as the richest person on the planet to Bernard Arnault, chief executive officer of luxury brand Louis Vuitton’s parent company LVMH, according to Forbes’ list. As of 3.49 pm on Thursday (December 8), Elon Musk’s networth was down to $185.4 billion due to a 3.21 per cent decline in Tesla’s shares. This is as compared with Arnault’s $186.6 billion networth currently.

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On the Forbes’ Real-Time Billionaires List on December 8 (Thursday), this is the second time in a day that Bernard Arnault has overtaken Elon Musk.

The third position is now by Gautam Adani with a total networth of $134.5 billion, followed by Jeff Bezos ($111.8 billion), Warren Buffett ($105.9 billion), Bill Gates ($105.3 billion) and Larry Ellison ($101.5 billion).

Adani Group Chairperson Gautam Adani became the world’s second-richest person on September 16 this year. According to Forbes Real-Time Billionaires List, Adani’s net worth stood at $155.7 billion as of September 16, 2022, leaving behind Amazon’s Jeff Bezos. However, Arnault later overtook to become second most richest.

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Elon Musk overtook Amazon’s Jeff Bezos as the world’s richest person for the first time on September 27, 2021. He continued to be the richest person on Earth for 14 months, until now when Arnault overtook him twice in a day.

Tesla’s shares are down about 50 per cent for the current year, which is around 20 percentage points worse than bourse Nasdaq as a whole. Musk owns nearly 25 per cent of Tesla between stock and options and is now worth 43 per cent less than his peak in November 2021, according to Forbes.

Adani’s net worth has this year surged even as the shares of Adani Group companies (Adani Enterprises, Adani Port and Adani Transmission) hit their record highs. In the calendar year 2022, Adani has added about $50 billion to his fortune. He became a centibillionaire in April and surpassed Microsoft Corp’s Bill Gates as the world’s fourth-richest person in August.

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