Amid the highs and lows of 2022 for Elon Musk, the billionaire has seen his net worth tumble by more than $100 billion this year, and he has now been replaced by Bernard Arnault, the chief executive of luxury brand Louis Vuitton's parent company LVMH, as the richest man in the world. 

According to the Bloomberg Billionaires Index, Musk, 51, is now worth $168.5 billion (as of Tuesday), less than the $172.9 billion net worth of Arnault, 73.

Last week, Arnault and his family for the first time logged personal wealth of $185.4 billion, ahead of Musk which recorded a net worth of $185.3 billion, before jumping again to $190 billion.