How Elon Musk lost his No 1 spot on the world’s wealthiest list... for a bit
FirstpostTwitter and Tesla boss Elon Musk became the world’s second-richest man briefly. The first position went to Bernard Arnault & family, who own LVMH, the parent company of the luxury brand Louis Vuitton Twitter and Tesla CEO Elon Musk lost the Number One spot on Forbes’ Real-Time Billionaires List on Wednesday… only briefly. The drop in Musk’s net worth was because of Tesla shares going down and a $44 billion bet on Twitter, according to Forbes which tracks the wealth of the world’s billionaires in real-time. French entrepreneur Bernard Arnault is currently the chairman and chief executive officer of LVMH Moët Hennessy Louis Vuitton, one of the world’s foremost luxury brands. Arnault acquired the majority of the shares of Paris-based fashion empire LVMH Moët Hennessy-Louis Vuitton in 1989 and he has been serving as the chairman and CEO of the company ever since.