<p>Elon Musk, who saw his net worth tumble by more than $100 billion in 2022, has been replaced by Bernard Arnault, the chief executive of luxury brand Louis Vuitton's parent company LVMH, as the world's richest man.</p>.<p>According to the Bloomberg Billionaires Index, Musk, 51, is now worth $168.5 billion (as of Tuesday), less than the $172.9 billion net worth of Arnault, 73.</p>.<p>Last week, Arnault and his family for the first time logged personal wealth of $185.4 billion, ahead of Musk which recorded a net worth of $185.3 billion, before jumping again to $190 billion.</p>.<p>The Tesla CEO's wealth eroded further after he bought Twitter for a whopping $44 billion.</p>.<p>The 51-year-old's net worth peaked at $340 billion in November last year.</p>.<p>Meanwhile, Tesla shares have plummeted around 58 per cent to date.</p>.<p>In January 2021, Musk became the richest person in the world for the first time, with a net worth of more than $185 billion.</p>.<p>Meanwhile, Tesla shares are further sliding, amid reports that Tesla will cut production at its Shanghai plant by 20 per cent in December.</p>
<p>Elon Musk, who saw his net worth tumble by more than $100 billion in 2022, has been replaced by Bernard Arnault, the chief executive of luxury brand Louis Vuitton's parent company LVMH, as the world's richest man.</p>.<p>According to the Bloomberg Billionaires Index, Musk, 51, is now worth $168.5 billion (as of Tuesday), less than the $172.9 billion net worth of Arnault, 73.</p>.<p>Last week, Arnault and his family for the first time logged personal wealth of $185.4 billion, ahead of Musk which recorded a net worth of $185.3 billion, before jumping again to $190 billion.</p>.<p>The Tesla CEO's wealth eroded further after he bought Twitter for a whopping $44 billion.</p>.<p>The 51-year-old's net worth peaked at $340 billion in November last year.</p>.<p>Meanwhile, Tesla shares have plummeted around 58 per cent to date.</p>.<p>In January 2021, Musk became the richest person in the world for the first time, with a net worth of more than $185 billion.</p>.<p>Meanwhile, Tesla shares are further sliding, amid reports that Tesla will cut production at its Shanghai plant by 20 per cent in December.</p>