Elon Musk lost his title of richest man on the planet earlier this week to fellow billionaire Bernard Arnault.
By Yaёl Bizouati-Kennedy
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Arnault, the chairman and CEO of the world’s largest luxury products brand — LVMH Moët Hennessy Louis Vuitton — surpassed the new Twitter owner in both Forbes and Bloomberg rankings earlier this week.
Arnault’s net worth stands at $171 billion, according to the Bloomberg Billionaire Index. To put this figure in context, it represents 0.74% of the GDP (gross domestic product) of the United States, 9.7% of U.S. existing home sales, and can buy 2.12 billion barrels of crude oil, according to Bloomberg.
Musk’s net worth is not far behind with $164 billion, however, his fortune has incurred a $107 billion (or 39.5%) loss year-to-date. His biggest asset is Tesla equity, according to Bloomberg. Shares of the company are down 59.8% year-to-date.
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Musk’s net worth is still equivalent to 0.71% of the GDP of the U.S., 2.28% of the total wealth of the 500 richest people in the word, and can buy 2.03 billion barrels of crude oil.
In third place is Gautam Adani, the founder of Adani Group, the largest port operator in India, with a $125 billion net worth.
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