Elon Musk Loses His Place As The World’s Richest Man

Elon Musk has officially lost his place as the world's richest man, but won his title back shortly. Find out more here...
Credit: Alamy

Elon Musk has lost his place as the world’s richest man.

The Tesla CEO has found himself making a lot of headlines since taking over Twitter for $44 billion.

Whether it’s asking staff to commit to being ‘hardcore’ or suspending Kanye West from the social media site for ‘going too far’, his acquisition of the social media giant has not been a quiet one.

Along with owning Twitter and Tesla, he is also the CEO of SpaceX and has a net worth of $185.4 billion.

He also held the title of the world’s richest man, although, that has now come under threat.

Watch Elon Musk explain why he bought Twitter below…

According to Forbes, Musk dropped down to second place on the morning of December 7, 2022, as he was overtaken by Bernard Arnault, the CEO of luxury brand Moët Hennessy Louis Vuitton (LVMH).

The French businessman has a net worth of $185.9 billion.

Musk soon regained the title, but Arnault overtook him again before being replaced by Musk once again.

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Their flip-flopping at the top of the charts has continued, but as of writing, Arnault is back on top.

However, their net worth is only separated by around $500 million so expect more changes.

People on Musk’s own social media site have been reacting to the news, with one person posting: “Elon Musk would still be the richest man on earth right now if he didn’t spend $44 billion on Twitter to save free speech.

“He did that for us!”

Someone else commented: “Elon Musk was too busy on Twitter now he has become the second richest man on earth.”

“Ten minutes later, he’s back on top,” added another user.

A fourth person said: “Is that really something to cry about? Don’t think he will starve!”

Bernard Arnault
Bernard Arnault, the CEO of the luxury brand Moët Hennessy Louis Vuitton, overtook Elon Musk as the richest man in the world. Credit: Alamy

Musk originally took the title of the world’s richest man from Jeff Bezos in 2021.

He told Forbes at the time that he will be sending the Amazon founder a giant statue of the digit ‘2’ to Jeffrey B, along with a silver medal’.

However, the news of Musk losing his crown comes after he admitted that admitted to losing roughly $100 billion of his wealth.

According to Bloomberg Billionaires Index, this is due to Tesla’s stocks plummeting.

As Musk owns 15% of the shares, he is losing roughly $8.6 billion a day.

The motor companies falling prices are contributed to a number of factors including a soaring rise in products and customers unable to afford the vehicles in the current cost of living crisis.

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Despite his busy work life, Musk has had 10 children but he very rarely talks about them in public.

With his first wife, Canadian author Justine Wilson, 50, the former couple had twins called Griffin and Vivian through IVF in 2004 In 2006 and then welcomed triplet sons Kai, Saxon and Damian before they divorced in 2008.

He then had two more children with singer Grimes, a boy called X Æ A-12, in May 2020, and a daughter named Exa Dark Sideræl Musk, in December 2021.

Musk also had twins with businesswoman Shivon Zilis in November 2021, according to court documents obtained by Business Insider in July 2022.

He also opened up earlier this year on social media about the death of his son, who died as a newborn in 2002.

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