Elon Musk Loses Title as World’s Richest Person

Elon Musk, once worth as much as $340 billion, has been displaced as the world’s richest person by Bernard Arnault.

Musk, 51, has seen his fortune tumble by more than $100 billion since January to $163.6 billion, according to the Bloomberg Billionaires Index. That’s less than the $170.8 billion net worth of Arnault, 73, whose wealth largely derives from his 48% ownership of fashion giant LVMH.

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