Elon Musk is not the second richest particular person on the earth, look who beat him

The Tesla mogul fell to 3rd place within the Forbes billionaire rankings and is additional and additional away from Jeff Bezos.

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This was not a superb day for Elon Musk , as he misplaced his place as the second richest particular person on the earth . The Tesla CEO’s fortune posted losses of about $ 6.2 billion , dropping him to 3rd within the Forbes billionaire rankings .

Musk’s dropping streak started on Wednesday, as on the finish of the day he had misplaced round 6.5 billion {dollars} . The mogul stayed at quantity three for a number of hours till this morning, when fluctuations within the inventory market helped him get better and return to the place he held.

Nevertheless, at this time’s session was not in its favor, as Tesla shares fell shut to five% . Now, your internet price is 150.900 million, whereas final February 17 was 191,000 billion.

Though this might be regular habits for the inventory market and it is extremely potential that it’s going to rebound within the close to future, for now he should give the crown to a different billionaire.

Supply: Forbes Actual-Time Billionaires Checklist

With Elon Musk preventing two consecutive days of losses, now the second richest particular person on the earth is the Frenchman Bernard Arnault , proprietor of the conglomerate LVMH , with a fortune of 155.600 million {dollars} .

The LVMH group encompasses greater than 70 luxurious manufacturers . These embody Louis Vuitton , Christian Dior , Fendi , Givenchy , Marc Jacobs , Fenty Magnificence , Bvlgari , Tiffany & Co. and Sephora.

Till final month, Elon Musk and Jeff Bezos took turns rating first and second on Forbes’ billionaires listing. Nevertheless, now the founding father of Amazon surpasses the CEO of SpaceX by practically $ 25 billion , as his present internet price is $ 175.4 billion .

Simply 10 days in the past, on February 24, Tesla fell 25% and Elon Musk misplaced greater than $ 15 billion in a single day . At the moment, the 49-year-old tycoon’s fortune was $ 166.1 billion .