Elon Musk Loses Forbes’ ‘Richest Billionaire In The World’ Title

Elon Musk appears to have slipped down the list of the world’s billionaires to second place as Bernard Arnault takes the top spot in the pantheon of the world’s richest people.

Tesla owner Musk, 51, who bought Twitter for $44billion (£35bn), last year earned the top spot on the Forbes World Billionaires list, which reckoned he had a net worth of $216bn.

But now it seems the Californian is in second place behind Bernard Arnault, 74, the chairman of French luxury goods giant LVMZ, which owns brands such as Louis Vuitton, Christian Dior and Tiffany & Co.

CNN reported that Arnault was able to overthrow Musk in the annual list after his net worth grew more than $50bn (£40bn) to $211bn (£169bn), as Musk’s net worth slumped to $180bn (£144bn) , $39bn (£31bn) less than it was last year, thanks to the purchase of Twitter which was funded by Tesla shares.

Forbes said: “Musk has mostly tweeted himself out of the top spot on the ranks.”