"2024's Billionaire Battle: Bezos Dethrones Musk as World's Richest Person"

Elon Musk has lost $40 billion of his net worth this year, making it the steepest fall reported in the top 10 rich list during this period. Musk now occupies the third spot with a net worth of $189 billion, behind Bernard Arnault and Jeff Bezos. The falling share prices of Tesla, in which Musk owns a 21% stake, have impacted his net worth, with the carmaker reporting disappointing sales in China and facing setbacks including a court order striking down his $55 billion pay package.