Elon Musk is no longer the richest man in the world.
The throne was usurped by the CEO of LVMH, Bernard Arnault, thus 'kicking' the Tesla founder to second place on the Forbes Billionaire 2023 list.
The French luxury goods tycoon is worth $211 billion after adding $53 billion to his net worth over the past 12 months.
This also makes him the first person outside the United States and the third person to surpass $200 billion in net worth.
For the past three years, he has been in third place on the list of Billionaires behind Musk and Amazon founder Jeff Bezos.
LVMH is the parent company of more than 70 luxury brands such as Louis Vuitton, Christian Dior, Givenchy, Tiffany's, Marc Jacobs, Sephora, Fenty Beauty and many more.
In second place, is Elon Musk who has a fortune of $180 billion after seeing Tesla's stock drop nearly 50% since he announced the $44 billion acquisition of Twitter last April.
Additionally, Jeff Bezos took third place with a net worth of $114 billion after seeing a $57 billion drop from a year ago following a 38% decline in Amazon shares.
