Bernard arnault

San Francisco: Twitter owner Elon Musk briefly lost his position as the world's richest man to Bernard Arnault, the chief executive of luxury brand Louis ...

In January 2021, Musk became the richest person in the world for the first time, with a net worth of more than $185 billion. The 51-year-old’s net worth peaked at $340 billion in November last year. According to Forbes, Arnault and his family logged personal wealth of $185.4 billion, ahead of Musk which recorded a net worth of $185.3 billion, before reaching around $190 billion.

Twitter's new boss Elon Musk who is also the CEO of electric carmaker Tesla and spacecraft engineering firm SpaceX briefly lost the spot of the world ...

His wealth as of this morning was $184.7 billion. This comes as Tesla has lost nearly half its market value and Musk's net worth has fallen by about $70 billion since he bid for Twitter in April. He took over the title from Amazon founder Jeff Bezos.

The two magnates each have an estimated net worth of $185 billion.

[Elon Musk](https://www.maxim.com/news/elon-musk-could-become-worlds-first-trillionaire-by-2024/) briefly lost his title of world’s richest person on Wednesday after a plunge in the value of his stake in the electric carmaker and his controversial, $44 billion purchase of the social media site. Musk previously seized the world’s richest person title from Amazon.com founder Jeff Bezos. for $15.8 billion, believed to be the biggest luxury brand acquisition ever. [Bernard Arnault](https://www.maxim.com/news/bernard-arnault-2019-3/), the CEO of luxury brand Louis Vuitton’s parent company LVMH, briefly snatched the title of world’s richest person before falling back to No. In January 2021, LVMH-acquired jeweler Tiffany & Co. 2 with a personal wealth of $185.3 billion, according to [Forbes](https://finance.yahoo.com/news/elon-musk-loses-title-worlds-155326671.html).

The title now belongs to Bernard Arnault, the chief executive of luxury brand Louis Vuitton's parent company LVMH.

[CLICK HERE TO READ MORE FROM THE WASHINGTON EXAMINER](https://www.washingtonexaminer.com/) Arnault's family took the title with a personal wealth of $184.7 billion, [according to](https://www.forbes.com/real-time-billionaires/#6c8bf8b33d78) Forbes. Musk had held the title of the world's richest man for over a year. He is married and has a total of five children. Since his acquisition of the platform, many changes and revelations have occurred, including advertisers leaving Twitter and Musk unveiling [new details on Twitter's suppression](https://www.washingtonexaminer.com/policy/technology/musk-drops-new-details-twitters-suppression-biden-laptop) of the story on Hunter Biden's laptop. [chief executive](https://www.washingtonexaminer.com/news/business) of luxury brand [Louis Vuitton's](https://www.washingtonexaminer.com/news/inflation-and-manufacturing-costs-force-louis-vuitton-to-raise-its-prices) parent company LVMH.

He is the owner of the LVMH group, which owns some 70 companies, including Dom Perignon (wines), Louis Vuitton and Fenty Beauty by Rihanna.

Since then he has been Chairman and CEO of the company. “He returned the group to profitability as he embarked upon a strategy of developing the world’s leading luxury products company. Forbes Magazine releases an annual list of the world’s richest people, as it did in April this year, where Indian industrialists like Lakshmi Mittal, Kumar Birla and Shiv Nadar featured. Then in 1984, he undertook the reorganisation of the Financière Agache holding company. With a net worth of $185.4 billion, Musk is now again followed in the Forbes list by Arnault at $184.7 billion. The number three position is currently held by Indian businessman Gautam Adani, with a net worth of $135.4 billion.