Elon Musk loses 'richest man in the world' title to Bernard Arnault again; internet reacts

Elon Musk has lost the title of the 'world's richest man' to Bernard Arnault again as share prices of his electric car company Tesla continue to plummet. Musk's net worth currently stands at $177.6 billion, according to the Forbes' real-time billionaires list. Arnault (73), on the other hand, who is the chairman and CEO of luxury brand Louis Vuitton, has overtaken Musk with a net worth of $189.1 billion. 

According to Forbes, Musk (51) is down at $3.7 billion on Tuesday and is the only one who is making losses in the top 10 list. Following Musk is Indian industrialist Gautam Adani who is currently valued at $134 billion with a gain of $306 million. A report by Fortune revealed that the Tesla CEO has lost over $100 billion this year alone as his net worth was valued at $304 billion at the start of 2022. Musk's wealth is most of the contribution of Tesla shares which fell 3.22% and is trading at a little over $162 on NASDAQ. 

According to Fortune, Musk was propelled to the helm as Tesla's shares rose by 4,000% in 10 years after its IPO but it has slumped over 50% less than their value at the beginning of 2022. 

Internet reacts to Musk's wealth decline

Several Twitter users reacted to Musk losing the wealthiest billionaire title saying that he would have retained if it wasn't for buying Twitter whereas others said he might be "living in his yacht" soon. Check out some of the reactions below. 

Image: AP