- Jeff Bezos overtakes LVMH’s Bernard Arnault to become world’s 2nd richest person MarketWatch
- Bezos Wealth: World’s 2nd Richest After Bernard Arnault Slips on LVMH Bloomberg
- LVMH boss Bernard Arnault has just lost his spot as the world’s second-richest person to Amazon founder Jeff Bezos Fortune
- ‘Wolf in cashmere’ Bernard Arnault loses his slot as the world’s 2nd-richest man to Jeff Bezos as LVMH stock s Business Insider India
- Billionaire Arnault loses spot as world’s second-richest person to Bezos The Edge Malaysia
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World’s second richest man LVMH’s Bernard Arnault under investigation in Paris over connections to Russian oligarch – Fortune
- World’s second richest man LVMH’s Bernard Arnault under investigation in Paris over connections to Russian oligarch Fortune
- Bernard Arnault’s lawyer dismisses allegations of money laundering as ‘absurd’ CNN
- Billionaire Bernard Arnault hits back at ‘absurd’ and ‘senseless’ money laundering allegations CNBC
- Billionaire Collector Bernard Arnault Faces Money Laundering Investigation in France ARTnews
- France Probes LVMH CEO Arnault Over Deal With Russian Businessman | Mint Mint
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Elon Musk briefly loses title as world’s richest person to LVMH’s Arnault – Forbes
Dec 7 (Reuters) – Twitter owner and Tesla (TSLA.O) boss Elon Musk briefly lost his title as the world’s richest person on Wednesday, according to Forbes, following a steep drop in the value of his stake in the electric-car maker and a $44 billion bet on the social media firm.
Bernard Arnault, the chief executive of luxury brand Louis Vuitton’s parent company LVMH (LVMH.PA), and his family briefly took the title as the world’s richest, but were back at No. 2 with a personal wealth of $185.3 billion, according to Forbes.
Musk, who has held the top spot on the Forbes list since September 2021, has a net worth of $185.7 billion. Musk took over the title from Amazon.com (AMZN.O) founder Jeff Bezos.
[1/2] Tesla CEO Elon Musk gestures as he visits the construction site of Tesla’s Gigafactory in Gruenheide near Berlin, Germany, August 13, 2021. Patrick Pleul/Pool via Reuters – RC2B4P9PCFBM/File Photo
Tesla shares, which have lost more than 47% in value since Musk made his offer to buy Twitter earlier this year, were down 2.7%.
Musk’s net worth dropped below $200 billion earlier on Nov. 8 as investors dumped Tesla’s shares on worries the top executive and largest shareholder of the world’s most valuable electric-vehicle maker is more preoccupied with Twitter.
Tesla has lost nearly half its market value and Musk’s net worth has dropped by about $70 billion since he bid for Twitter in April. Musk closed the deal for Twitter in October with $13 billion in loans and a $33.5 billion equity commitment.
Besides Tesla, Musk also heads rocket company SpaceX and Neuralink, a startup that is developing ultra-high bandwidth brain-machine interfaces to connect the human brain to computers.
Reporting by Akriti Sharma and Chavi Mehta in Bengaluru; Editing by Shounak Dasgupta
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