Elon Musk, the CEO of Twitter, briefly reclaimed the title of the world's richest person, surpassing Bernard Arnault, the CEO of LVMH, the parent company of luxury brand Louis Vuitton. However, Musk's reign as the wealthiest individual was short-lived as he soon lost the coveted position once again.
Based on the Forbes Real-Time Billionaires List, Bernard Arnault's net worth has reached $216 billion, surpassing Elon Musk's current wealth of $200 billion. Musk, who saw his net worth tumble by more than $100 billion in 2022, had been replaced by Arnault as the world's richest man in December last year as well.
Elon Musk, whose net worth experienced a significant decline of over $100 billion in 2022, was dethroned by Bernard Arnault as the world's wealthiest individual in December of the previous year.
In January 2021, Elon Musk attained the distinction of becoming the world's wealthiest individual for the first time, boasting a net worth exceeding $185 billion.
As of last month, it was reported that Twitter, which is owned by Elon Musk, had a value of approximately $15 billion, representing a significant 33 per cent decrease compared to the $44 billion that Musk and his co-investors had paid to acquire the platform.
Since assuming control, Twitter has faced financial difficulties under Musk's leadership.
According to Fidelity's monthly report on portfolio valuations, it has been estimated that Twitter's current value is only about one-third of the amount that Elon Musk initially paid for the micro-blogging platform.