is no longer considered the richest person in the world.Musk, 51, lost his pole position on Tuesday to the Louis Vuitton group chief Bernard Arnault after an extended slump in the value of stock, which has cost him more than $100billion this year, according to the Bloomberg Billionaires Index.Arnault, 73, is the chairman and CEO of LVMH - the luxury goods conglomerate that parents brands like Dior, Tiffany and Bulgari - and is now worth an estimated $170.6billion.
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