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Elon Musk dethroned as the richest person in the world

Musk was worth $181.3 billion when the markets closed on Monday and showed a drop of $7.4 billion in a day, whereas Arnault is valued at $186.2 billion

Elon Musk
Elon Musk

Elon Musk, the owner of Tesla, Space X and Twitter, is no longer the richest person in the world. According to Forbes, Musk has been replaced by LVMH chief Bernard Arnault.

Musk was worth $181.3 billion when the markets closed on Monday and showed a drop of $7.4 billion in a day, whereas Arnault is valued at $186.2 billion.

Musk’s wealth is mostly tied to Tesla stock, which was driven by a rise in the carmaker’s share price, showing over 1,000 percent in two years.

Musk’s wealth has fallen sharply this year, due to a drop in tech stocks, Tesla investors dumping shares as he overtook Twitter as chief in October. He has also openly fired former Twitter employees, reinstated banned users such as Kanye West and Donald Trump. Musk also made headlines when he asked US medical adviser Anthony Fauci to be “prosecuted”.

Musk in a tweet on Sunday called for Fauci to be prosecuted. “My pronouns are Prosecute/Fauci,” he wrote.

An earlier tweet Sunday also targeted Fauci with a meme about lockdowns, which aimed to minimise transfer of the virus by closing many in-person businesses and schools early in the pandemic.

Musk, who has styled himself as a champion of free speech, has rattled advertisers with his comments on Twitter and moves to change the social media platform’s content moderation policies.

On Sunday, Musk was also booed for several minutes when he joined comedian Dave Chappelle on stage at a comedy show in San Francisco.

Following Musk is the Indian chairman of Adani Group, Gautam Adani, followed by Amazon’s Jeff Bezos and Warren Buffet.

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