Twitter owner and Tesla CEO Elon Musk briefly lost his title as the world's richest person to Bernard Arnault on Wednesday, according to Forbes.
Musk's fortune dipped to $185.3 billion, falling just behind the $185.4 billion personal wealth of Arnault, the chief executive of luxury brand Louis Vuitton's parent company LVMH, and his family.
It was the first time since September 2021 that Musk was knocked out of first place on the Forbes' Real Time Billionaires list, which is constantly updated based on stock prices.
After briefly falling behind Arnault on Wednesday, Musk popped back into the lead, and the two billionaires were vying for top spot as the trading day unfolded.
Twitter owner and Tesla CEO Elon Musk briefly lost his title as the world's richest person to LVMH chairman Bernard Arnault (right) on Wednesday
It follows a turbulent period for Musk, who sold off significant swathes of his Tesla holdings to fund his $44 billion Twitter takeover six weeks ago.
Tesla's shares fell about 4 percent in morning trading on Wednesday.
Developing story, more to follow.
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