His wealth has been hit as shares in his electric car maker Tesla have more than halved.
Elon Musk is no longer the world's richest man after seeing the value of his stake in electric car company Tesla more than halve.
According to both Forbes and Bloomberg, Mr Musk has been overtaken at the top spot by Bernard Arnault, the chief executive of luxury goods group LVMH., Mr Musk is worth about $178bn .Mr Musk completed a $44bn takeover of Twitter in October. However, the deal was only completed after months of legal wrangling, and some have cited the distraction of the Twitter takeover as one of the factors behind Tesla's share price fall.
After building a stake in Twitter at the start of the year, Mr Musk made his $44bn offer in April, although many considered this offer to be too high. In July, he pulled out of the deal, citing concerns over the number of fake accounts on the platform.
United Kingdom Latest News, United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Elon Musk met with deafening boos after Dave Chappelle brings him on stageDave Chappelle did not get the response he was hoping for after bringing Elon Musk on stage 👀
Read more »
Elon Musk booed on stage at Dave Chappelle gigOne person in the audience said Elon Musk 'looked stunned' by the reception he received from attendees at Dave Chappelle's gig.
Read more »
Elon Musk booed on-stage at SF Dave Chappelle gigAre they booing me, Smithers? No, Mr SpaceX, they're saying boo, boo-ster, booster!
Read more »
Elon Musk admits 'a lot of boos' greeted his cameo at Dave Chappelle gigOne person in the audience said Elon Musk 'looked stunned' by the reception he received from attendees at Dave Chappelle's gig.
Read more »
Elon Musk says Twitter to increase character limit from 280 to 4000Twitter might see its biggest change yet, if Elon Musk is to be believed...
Read more »