Musks moves to third place in billionaire list as fortune drops by $9 billion

The Technoking of Tesla is going further away from the throne in the billionaires list. Elon Musk’s fortune has dropped about $9.1 billion this year, the most among U.S.-based billionaires tracked by Bloomberg’s wealth index. Musk is now third on the billionaire list as he got pipped by Louis Vuitton Chairman Bernard Arnault. The luxury brand chief has seen his fortune surge by almost $47 billion to $161.2 billion as sales in China and other parts of Asia have soared.

Musk now has a fortune of $160.6 billion, down 24% from its January high.