Elon Musk is no longer the richest man in the world, thanks to a drop in Tesla's share price that pushed the entrepreneur into second place.
Musk, the CEO of Tesla and Twitter, was replaced on the list by French billionaire Bernard Arnault this week, according to data from Forbes.
Arnault is the CEO of luxury goods manufacturer LVMH and has a net worth of $187.1 billion.
Meanwhile, Musk lost $7.4 billion on Monday — about 4% of his total net worth. According to Forbes, his fortune is 181.3 billion dollars.
Tesla shares are now valued at 60% less than they were at the beginning of the year. Bloomberg analysts estimate that the figure could decrease even more.
Indian businessman Gautam Adani became the third richest person in the world earlier this year. The list of the 5 richest people continues with Jeff Bezos, CEO of Amazon and Warren Buffett, CEO of Berkshire Hathaway.
Source: Fortunes, BBC
