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Elon Musk Loses His “World Richest Man” Tag

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The post Elon Musk Loses His “World Richest Man” Tag appeared first on Coinpedia Fintech News

Elon Musk, the owner of Twitter and CEO of Tesla briefly lost the title of the richest man in the world on Wednesday, according to Forbes, due to a sharp decline in the value of his share in Tesla and a $44 billion bet on the social media company. 

Musk briefly lost 1.6 trillion of his wealth. He was overtaken by a french billionaire, Bernard Arnault, whose family owns the world’s leading luxury group. At the time of writing, they are each worth $185.4 billion and $185.3 billion, respectively.

Tesla CEO has held the title of the world’s richest person since September 2021, replacing Amazon founder Jeff Bezos

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