<p class="title">Twitter owner and Tesla Inc boss Elon Musk lost his title as the world's richest person on Wednesday, according to <em>Forbes</em>, following his expensive bets to buy the social media firm and selling stocks of his electric-car company to fund the $44 billion deal.</p>.<p class="bodytext">Bernard Arnault, the chief executive of luxury brand Louis Vuitton's parent company LVMH, and his family took the title with a personal wealth of $185.4 billion, according to Forbes.</p>.<p class="bodytext">Musk, who has had held the top spot on the <em>Forbes</em> list for world's richest since September 2021, has a net worth of $185.3 billion.</p>.<p class="bodytext">Tesla's shares fell about 4 per cent.</p>
<p class="title">Twitter owner and Tesla Inc boss Elon Musk lost his title as the world's richest person on Wednesday, according to <em>Forbes</em>, following his expensive bets to buy the social media firm and selling stocks of his electric-car company to fund the $44 billion deal.</p>.<p class="bodytext">Bernard Arnault, the chief executive of luxury brand Louis Vuitton's parent company LVMH, and his family took the title with a personal wealth of $185.4 billion, according to Forbes.</p>.<p class="bodytext">Musk, who has had held the top spot on the <em>Forbes</em> list for world's richest since September 2021, has a net worth of $185.3 billion.</p>.<p class="bodytext">Tesla's shares fell about 4 per cent.</p>