Elon Musk, founder and CEO of electric car maker Tesla, is no longer the richest person in the world, having been replaced by Bernard Arnault.

The 51-year-old’s fortune, which was once worth $340 billion, has fallen by more than $100 billion since January to $168.5 billion, according to Bloomberg Millionaires Index🇧🇷

That was the value of his assets at 3:20pm (Lisbon time), surpassing at $172.9 billion that of Bernard Arnault, 73 – who owes a large portion of his fortune to the 48% he owns in the fashion giant. From LVMH luxury.

At this time, around 4:00 pm, Musk has regained the platform’s lead in this ranking, but it may fall again, as the index is constantly evaluating the most risky assets. Elon Musk’s net worth is now $168 billion, but he’s back on top because Arnault already has only $167 billion “in his wallet.”

pre-existing existing From Forbes, Elon Musk remains in second place – having been overtaken by Arnault in the early afternoon.

Musk has held the top spot in this ranking since September 2021, when he ousted the founder of online retailer Amazon, Jeff Bezos.

Tesla shares continued to drop 3.10% to $162.62, but they are already down more than 6% and have already lost more than half their value this year, in part due to the sell-off that accelerated after the acquisition of social network Twitter from Musk for $44 billion. .