SpaceX and Tesla founder Elon Musk, who recently bought Twitter, is no longer the richest man in the world, according to Bloomberg.. The first place is now occupied by the head of the group of companies Louis Vuitton Moet Hennessy Bernard Arnault.

Musk's net worth has shrunk by more than $100 billion to $163 billion since January.. Bloomberg estimates Arno's fortune at $170.8 billion..

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Musk's fortune began to decline on the eve and after the purchase of the social network Twitter. According to Bloomberg, in April he " Against this background, Tesla shares began to lose value, as Musk had to sell a significant part of the electric car manufacturer's shares..

Musk topped the list of billionaires in 2021, displacing Amazon founder Jeff Bezos from the first place. At some point, the fortune of the billionaire was estimated at 350 billion dollars..

On December 7, Musk was already losing his lead in the rankings, he was also displaced by Arno.

But later the businessman managed to rise to the first position again..

Recall that, according to media reports, most of the world's well-known brands have reduced their advertising costs on Twitter to a minimum or abandoned the services of the social network altogether.. This happened after Musk massively fired employees from the company's advertising department.. After that, communication between Twitter clients and the company's office deteriorated significantly..