Musk is no longer the richest person in the world after the stock price of his company fell. Bernard Arnault is the CEO of the luxury fashion conglomerate, which owns Louis Vuitton, Dior, Tiffany, Mot, and more.
Musk's net worth dipped below Arnault's $172 billion, according to the billionaire index. Most of Musk's wealth comes from his stock in the company. He was worth as much as $340 billion at one point.
The purchase of Twitter took a toll on Musk's value. He sold off his shares in order to finance the transaction.
Musk was booed at a Dave Chappelle show on Sunday night. Musk blamed the "woke" attendees and a fight in the crowd for the cheering in the audience. Chappelle said to make some noise for the richest man in the world. It would be an accurate description for the next 18 or so hours.
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