Elon Musk's tweets have caused him to lose richest man in the world title

Elon Musk is no longer the richest man in the world and it could all be down to his tweets.

The Twitter CEO has been knocked off the top spot of the annual Forbes rich list. He is now second after $39 billion was reportedly knocked off his worth since 12 months ago – and Forbes thinks that he has “tweeted himself out” of the top spot.

Musk has been replaced as the richest man in the world by Bernard Jean Étienne Arnault, who is the CEO of LVMH.

LVMH is the world’s biggest luxury goods company and owns brands such as Louis Vuitton and Tiffany & Co.

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LVMH has experienced record profits and it’s meant that Arnault’s wealth has reportedly risen $53 billion to $211 billion.

Frederic J. Brown / AFP via Getty Images

Musk, meanwhile, is in second place after dropping down to a net worth of $180 billion.

The report from Forbes reads: “Musk has mostly tweeted himself out of the top spot on the ranks, with Tesla stock down nearly 50 percent since he announced his $44 billion takeover of Twitter last April.”

Others in the list also included the likes of Bill Gates, Warren Buffett and Larry Ellison. However, the total number of billionaires was also down from 2,688 to 2,640 in 2023.

In fact, Musk set several precedents in terms of wealth, and according to Bloomberg he set a very unwanted one recently.

The financial news outlet reported that a drop in Tesla's stock value may have contributed to a staggering loss in Musk's net worth, reportedly becoming the first person to lose a staggering $200 billion.

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