Elon Musk is no longer the richest person in the world, following a further plunge in the value of Tesla stock.
According to Forbes' rich list, Musk has lost the top spot to Louis Vuitton chair Bernard Arnault, who is now the world's richest person with a $187.5billion fortune (£151bn).
Musk's wealth has plummeted following his buyout of Twitter. That's because most of his money is tied up in shares at Tesla, which was previously some of the world's most valuable stock.
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However, Tesla stocks have been on a steady decline this year as investors complain Musk has been spending too much time on Twitter.
After buying the social media platform this Autumn, Musk has spent much of his time sacking staff, shaking things up, and of course, posting memes.
What's more, it looks like investors aren't impressed. Tesla's stock prices fell again on Monday, wiping $7.4bn off of Musk's net worth. That means Arnault, who chairs luxury French brand LVMH, has around $6bn more than Musk to his name.
Matt Maley, a market strategist, told Forbes: "The big problem is that many investors have lost some confidence in Tesla because Musk is being forced to focus so much of his attention on Twitter."
This is supported by the accounts of Tesla investors themselves, some of whom claim to have sold shares amid Musk's ongoing Twitter drama.
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Investor Earl Banning told Reuters that Musk had 'lost a lot of us' and called Musk's behaviour 'so unnecessary'.
Banning said: "You've got a great car company—just stop it."
When Musk became world's richest man, he sent Amazon founder Jeff Bezos a silver #2 medal as a taunt.
But now it looks like it's Musk's turn to win second place. If Arnault is immature enough to send him a silver medal, you know it'll at least be high quality—he owns Tiffany after all.
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