by © Knewz — Forbes announced that French businessman Bernard Arnault briefly passed Elon Musk to become the world’s richest person. With an estimated worth of $186 billion, the new Twitter owner’s net worth had decreased after a drop in the stock value of his other business, Tesla, pushing him below the $200 billion mark. Although it had been predicted by many that Amazon’s founder Jeff Bezos would be the one to unseat Musk, it was Arnault who gained the title. With his stake in the tech giant and recent deal with Microsoft, Bezos has seen his net worth grow, leading him to become the main opponent of Musk in their ongoing race to the top. It remains to be seen how long the Chairman and CEO of Moët Hennessy Louis Vuitton SE will remain in this coveted spot as Musk looks for profitable investment opportunities to help him reclaim the title once again.

LVMH controls around 60 subsidiaries that each manage a small number of prestigious brands, 75 in total. These include Christian Dior, Fendi, Givenchy, Marc Jacobs, Stella McCartney, Loewe, Loro Piana, Kenzo, Celine, Sephora, Princess Yachts, TAG Heuer, Bulgari and Tiffany & Co. The jockeying for the top spot of world’s richest is likely to continue for years as the stock market fluctuates and the top earners find new businesses. The post Elon Musk Loses Top Spot As World’s Richest appeared first on Knewz.