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Daily Mirror

World

Rachel Hagan

Elon Musk replaced as richest person in the world weeks after buying Twitter

Elon Musk Luxury Twitter Inc.

Elon Musk briefly lost his title as the richest person in the world, passing the crown on to Bernard Arnault, the chief executive of luxury brand Louis Vuitton's parent company LVMH.

Twitter owner and Tesla Inc CEO Elon Musk lost his title following his expensive gamble to buy the social media firm Twitter and sell stocks of his electric-car company to fund the $44 billion (£36bn) deal.

Mr Arnault's personal wealth is now $185.4 billion (£152.2bn), according to Forbes and he briefly took the spot from Mr Musk before heading back to number two.

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