Forbes' "World's Billionaires List" dethrones Elon Musk from top spot.

Tesla and SpaceX CEO Elon Musk has lost his top spot on Forbes' annual "World's Billionaires List" to Bernard Arnault, the chairman of French luxury goods giant LVMH, whose net worth rose by over $50 billion in the past year to $211 billion. Musk's net worth declined by $39 billion last year, partly due to his $44 billion acquisition of Twitter, which was financed by Tesla shares. The total number of billionaires on this year's Forbes list dropped to 2,640 from 2,668, marking the second consecutive year of decline.