Twitter boss, Elon Musk, has lost his title as the world’s richest man after he became the first person to lose $200 billion from his net worth in human history.

According to Bloomberg Billionaire Index, Musk was the second person with over $200 billion of personal fortune after Amazon’s Jeff Bezos.

Musk’s wealth reportedly plummeted to $137 billion following the recent decline in Tesla shares which includes a massive 11 per cent fall on 27th December.

Tesla is now offering consumers in the United States a $7,500 discount for its two highest-volume models before year-end.

Recall that Musk’s fortune topped $340 billion in November 2021, which made him the world’s richest person for more than a year at a stretch.

The new Twitter owner was overtaken in December 2022 by Bernard Arnault, the French business magnate and co-founder of luxury goods powerhouse LVMH.