Elon Musk has lost his title as the world's wealthiest person, according to Forbes and Bloomberg, as the value of shares in his electric car company, Tesla, continues to decline. Musk, the CEO and largest shareholder of Tesla, has seen the company's market value drop by more than 50% since he made a bid for Twitter in April. This decrease in value has resulted in a loss of approximately $7 billion in Musk's fortune, bringing his net worth to an estimated $177 billion compared to Bernard Arnault, the CEO of luxury group LVMH, whose net worth is estimated at $188 billion.

Arnault had briefly overtaken Musk as the world's wealthiest person a week ago before Musk regained the top spot. However, Musk has now fallen back to second place. Musk has sold about $20 billion in Tesla shares since April to fund his purchase of Twitter. Tesla's market value has come under pressure due to disappointing quarterly results and disruptions at one of its factories in Shanghai. Some investors have expressed concern that Musk may be distracted by his other ventures, including SpaceX and running Twitter, and he frequently attracts criticism for his controversial tweets to his 121 million followers.

Despite the recent changes in his net worth and the challenges facing Tesla, Musk remains a highly influential figure in the tech industry and beyond. His innovative ideas and successful businesses have made him a household name and continue to inspire others to pursue their own entrepreneurial ventures. It will be interesting to see how Musk's net worth and business ventures evolve in the coming years.

In conclusion, the title of the world's wealthiest person is a fluid one, with different individuals taking the top spot at different times. Currently, Bernard Arnault holds the title, but it remains to be seen who will hold it in the future. Regardless of his net worth, Elon Musk is a highly successful businessman and entrepreneur whose contributions to the tech industry have made a significant impact.

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