Elon Musk is no longer the richest person in the world, says Forbes. The purchase of Twitter and the shares in Tesla that he sold off before that caused his wealth to plummet, according to the business magazine.
Frenchman Bernard Arnault is now the world's richest man. He owns luxury group LVMH, known for fashion houses such as Louis Vuitton, Christian Dior and Fendi, as well as several liquor brands.
Musk had led the Forbes list of billionaires since last September. His personal wealth is now estimated at $185.3 billion.
Arnault is said to own $185.4 billion, jumping to first place.
The acquisition of Twitter cost Musk $44 billion.
