Twitter’s Elon Musk No Longer World’s Wealthiest Person, Per Forbes

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Twitter owner Elon Musk is no longer the world’s wealthiest person, according to Forbes.

That title now belongs to LVMH Chairman and CEO Bernard Arnault, who is worth $185.8 billion, followed by Musk, also the CEO of Tesla, at $185.7 billion, according to Forbes.

As Reuters noted:

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.

Succeeding Musk on the Forbes real-time billionaires list is Indian businessman Gautam Adani at $134.8 billion, Amazon founder and Washington Post owner Jeff Bezos at $112 billion, investor Warren Buffett at $106.8 billion, Microsoft co-founder and philanthropist Bill Gates at $105.6 billion and Oracle co-founder Larry Ellison at $102.1 billion.

Kanye West, who has lately made anti-Semitic statements, is currently worth $400 million — a lot of money but a huge drop from having an estimated net worth of $2 billion this year.

Former President Donald Trump is still on the billionaires list with a net worth of $3.2 billion.