Elon Musk loses title as the ‘World’s Richest Man’ to Bernard Arnault

American Billionaire Elon Musk has lost his title as the richest person in the world after selling Tesla stock to pay for the $44 billion purchase of Twitter, aso Naija reports.

On Oct. 28, Tesla CEO Elon Musk completed the deal to acquire Twitter at his original offer price of $54.20 a share at a total cost of roughly $44 billion.

According to Forbes, Bernard Arnault and his family, who control the parent company of luxury brand Louis Vuitton, LVMH, and have a combined personal worth of $185.4 billion, have been named the world’s wealthiest people.

The Twitter boss, who has held the top spot on the Forbes list of the world’s richest since September 2021, now has a net worth of $185.3 billion.

On Wednesday, Dec. 7, early trading saw a drop of about 4% in Tesla’s stock.

A while back, the Twitter boss got himself trending after he tweeted that he wants to buy English football club, Manchester United.