Forbes' annual billionaire list sees new leader as Elon Musk falls from top spot.

Elon Musk has been dethroned from the top spot on Forbes' annual billionaire list by Bernard Arnault, the chairman of French luxury goods giant LVMH. Musk's net worth fell to $180 billion, $39 billion less than last year, after he purchased Twitter for $44 billion, funded by Tesla shares. Arnault's net worth grew more than $50 billion to $211 billion due to record-high profits at his conglomerate. Amazon founder Jeff Bezos is now in third position on the list after losing $57 billion. The total number of billionaires on the list fell for a second straight year from 2,668 to 2,640.