The list on which Musk was overtaken for a while was the Real-Time list, that is available round-the-year. It has a ranking system that “tracks the daily ups and downs of the world’s richest people.” Billionaire entrepreneur Elon Musk was recently taken off the top position on Forbes’ Real-Time Billionaires List for a short period, coming second to Bernard Arnault & family, who own the LVMH Moët Hennessy Louis Vuitton group of luxury brands.
The slight drop in Musk’s net worth was attributed to a fall in his automobile company Tesla’s shares. “Tesla shares, which have lost more than 47% in value since Musk made his offer to buy Twitter earlier this year, were down 2.7%”, reported Reuters, saying Tesla investors are being cautious after Musk’s increased focus on Twitter.