Shulou(Shulou.com)11/24 Report--

Beijing, December 8 (Xinhua) Tesla CEO Elon Musk (Elon Musk) lost his position as the world's richest man and was overtaken by Louis Vuitton chairman Bernard Bernard Arnault on Wednesday. Musk then regained the position, but with a narrow lead.

Musk's wealth was once overtaken by Arnott's Forbes rich list, showing that by Wednesday afternoon, Musk and Arnault were neck and neck. At one point, Arnault's net worth reached $185.8 billion, ahead of Musk's $185.7 billion. At the time, Tesla's share price fell nearly 4 per cent, with a market capitalization of just over $541 billion. Tesla's share price has fallen nearly 57 per cent so far this year.

Musk's net worth is only $700 million ahead of Arnott, but by Wednesday's close, Tesla's share price had narrowed to 3.2%, increasing its market capitalization to $549.6 billion. Musk's wealth also increased to $185.4 billion, $700 million more than Arnault's. Musk has a net worth of $179 billion on the Bloomberg Billionaires Index, with a bigger lead over Arnott, at about $14 billion.

Tesla stock is Musk's main source of wealth. As a result of the sharp decline in Tesla's share price, Musk's wealth has lost more than $100 billion this year. Musk's $44 billion acquisition of Twitter also affected his wealth as he sold some of his Tesla shares to raise money. His focus on Twitter has also led some investors to question Tesla's prospects.

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