Elon Musk Is No Longer the Second-Richest Person in the World. Look Who Beat Him.

This was not a good day for Elon Musk , as he lost his position as the second-richest person in the world. The Tesla CEO’s fortune posted losses of about $ 6.2 billion, dropping him to third in the Forbes billionaire rankings.

Musk’s losing streak began on Wednesday, as at the end of the day he had lost around $6.5 billion. The mogul stayed at number three for several hours until this morning, when fluctuations in the stock market helped him recover and return to the position he held.

However, today’s session was not in its favor, as Tesla shares fell close to 5%. Now, his net worth is $150.9 billion, while last February 17 was $191 billion.

Although this could be normal behavior for the stock market and it is very possible that it will rebound in the near future, for now he will have to give the crown to another billionaire.

^{Source: Forbes Real-Time Billionaires List}

With Elon Musk fighting two consecutive days of losses, now the second richest person in the world is the Frenchman Bernard Arnault, owner of the conglomerate LVMH, with a fortune of $155.6 million.

The LVMH group encompasses more than 70 luxury brands . These include Louis Vuitton, Christian Dior, Fendi, Givenchy, Marc Jacobs, Fenty Beauty, Bvlgari, Tiffany & Co. and Sephora.

Until last month, Elon Musk and Jeff Bezos took turns ranking first and second on Forbes’ billionaires list. However, now the founder of Amazon surpasses the CEO of SpaceX by nearly $ 25 billion , as his current net worth is $ 175.4 billion .

Just 10 days ago, on February 24, Tesla fell 25% and Elon Musk lost more than $ 15 billion in a single day . At that time, the 49-year-old tycoon’s fortune was $166.1 billion.