Twitter boss, Elon Musk, has lost his title as the world’s richest person following a steep drop in the value of his stake in Tesla and a $44 billion bet on Twitter.
In the Forbes list published on Tuesday, ‘The Real-Time Billionaires List’, Elon Musk’s estimated net worth is $180 billion, down by $39 billion from the previous year, Due to his $44billion acquisition of Twitter, which was paid for with Tesla stock.
This has made Musk to slip down the list of the world’s billionaires to second place as Bernard Arnault takes the first spot.
A French luxury goods magnate, Bernard Arnault, surpassed Musk, to take the title of the world’s richest billionaire.
According to Forbes’ calculations, the 74-year-old engineer tops the 2023 billionaires list with a $211 billion fortune, surpassing Elon Musk, who was placed first in 2022 and is now in second place, by $31 billion.