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Elon Musk Loses World's Richest Title Again in March 2023

Elon Musk has lost his title as world's richest person for second time in a year, according to Bloomberg Billionaires Index. Tesla and SpaceX CEO net worth has fallen by more than $30 billion since beginning of year, as shares of his companies have tumbled.

Musk is now worth $197.7 billion, according to the index. That less than $221.3 billion net worth of Bernard Arnault chief executive of luxury goods conglomerate LVMH. Arnault has been the world's richest person since December 2021.

Musk's decline in wealth is due in part to the recent sell off in tech stocks. Tesla shares have fallen by more than 20% since the beginning of the year, while SpaceX shares have fallen by more than 30%.

Musk has also been selling off shares of Tesla in recent months to help finance his $44 billion acquisition of Twitter. He has sold more than $12 billion worth of Tesla stock since April.

Musk loss of the title of world's richest person is a reminder of the volatility of the stock market and the fickle nature of wealth. Just a few months ago, Musk was the richest person in the world. Now, he's been knocked out of the top spot by Arnault.

Here is a list of top 25 richest men in the world as of April 04, 2023:

Bernard Arnault ($221.3 billion) Elon Musk ($197.7 billion) Jeff Bezos ($187.3 billion) Bill Gates ($136.2 billion) Warren Buffett ($122.1 billion) Larry Ellison ($116.9 billion) Sergey Brin ($103.7 billion) Larry Page ($103.7 billion) Mark Zuckerberg ($99.7 billion) Mukesh Ambani ($98.7 billion) Gautam Adani ($91.2 billion) Steve Ballmer ($90.1 billion) Amancio Ortega ($87.3 billion) Françoise Bettencourt Meyers ($86.5 billion) Li Ka-shing ($86.2 billion) Jack Ma ($83.8 billion) Robin Li ($82.5 billion) Ma Huateng ($81.8 billion) Wang Jianlin ($74.6 billion) Pony Ma ($71.9 billion) Forrest Mars Jr. ($71.4 billion) Michael Dell ($70.6 billion) S. Robson Walton ($68.9 billion) Alice Walton ($68.9 billion) Christy Walton ($68.9 billion)

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