Elon Musk Falls Behind on the List of Billionaires

Elon Musk falls behind on the list of billionaires. Tesla's founder Musk has dropped to the third place on the list.

Elon Musk, founder and CEO of the electric vehicle manufacturer Tesla, fell one place to third in the Bloomberg billionaires index. With Tesla shares declining, Musk's wealth lost 24 percent from its peak in January. Head of LVMH, Bernard Arnault, was recorded as the second richest person in the world, surpassing Musk. Elon Musk's fortune has fallen to $ 160.6 billion. In 2021, Musk's wealth fell by $ 9.1 billion. This figure was recorded as the biggest drop recorded among US billionaires, according to data compiled by Bloomberg. World-renowned billionaire Elon Musk was placed at the top of the list as a result of a record 750 percent increase in Tesla shares last year. With sales increasing in China and other parts of Asia, Bernard Arnault's fortune increased by $ 47 billion to $ 161.2 billion.