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Elon Musk Briefly Loses Title as World’s Richest Person to LVMH's Arnault  

Elon Musk arrives at the In America: An Anthology of Fashion themed Met Gala at the Metropolitan Museum of Art in New York City, New York, US, May 2, 2022. (Reuters)
Elon Musk arrives at the In America: An Anthology of Fashion themed Met Gala at the Metropolitan Museum of Art in New York City, New York, US, May 2, 2022. (Reuters)
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Elon Musk Briefly Loses Title as World’s Richest Person to LVMH's Arnault  

Elon Musk arrives at the In America: An Anthology of Fashion themed Met Gala at the Metropolitan Museum of Art in New York City, New York, US, May 2, 2022. (Reuters)
Elon Musk arrives at the In America: An Anthology of Fashion themed Met Gala at the Metropolitan Museum of Art in New York City, New York, US, May 2, 2022. (Reuters)

Twitter owner and Tesla boss Elon Musk briefly lost his title as the world's richest person on Wednesday, according to Forbes, following a steep drop in the value of his stake in the electric-car maker and a $44 billion bet on the social media firm. 

Bernard Arnault, the chief executive of luxury brand Louis Vuitton's parent company LVMH, and his family briefly took the title as the world's richest, but were back at No. 2 with a personal wealth of $185.3 billion, according to Forbes. 

Musk, who has held the top spot on the Forbes list since September 2021, has a net worth of $185.7 billion. Musk took over the title from Amazon.com founder Jeff Bezos. 

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%. 

Musk's net worth dropped below $200 billion earlier on Nov. 8 as investors dumped Tesla's shares on worries the top executive and largest shareholder of the world's most valuable electric-vehicle maker is more preoccupied with Twitter. 

Tesla has lost nearly half its market value and Musk's net worth has dropped by about $70 billion since he bid for Twitter in April. Musk closed the deal for Twitter in October with $13 billion in loans and a $33.5 billion equity commitment. 

Besides Tesla, Musk also heads rocket company SpaceX and Neuralink, a startup that is developing ultra-high bandwidth brain-machine interfaces to connect the human brain to computers. 

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Varieties

Santa and Mrs. Claus Use Military Transports to Bring Christmas to Alaska Native Village

Santa Claus arrives at the school in Yakutat, Alaska,, as part of the Alaska National Guard's Operation Santa initiative that brings Christmas to an Indigenous community that has suffered a hardship, Wednesday, Dec. 18, 2024. (AP Photo/Mark Thiessen).
Santa Claus arrives at the school in Yakutat, Alaska,, as part of the Alaska National Guard's Operation Santa initiative that brings Christmas to an Indigenous community that has suffered a hardship, Wednesday, Dec. 18, 2024. (AP Photo/Mark Thiessen).
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Santa and Mrs. Claus Use Military Transports to Bring Christmas to Alaska Native Village

Santa Claus arrives at the school in Yakutat, Alaska,, as part of the Alaska National Guard's Operation Santa initiative that brings Christmas to an Indigenous community that has suffered a hardship, Wednesday, Dec. 18, 2024. (AP Photo/Mark Thiessen).
Santa Claus arrives at the school in Yakutat, Alaska,, as part of the Alaska National Guard's Operation Santa initiative that brings Christmas to an Indigenous community that has suffered a hardship, Wednesday, Dec. 18, 2024. (AP Photo/Mark Thiessen).

Forget the open-air sleigh overloaded with gifts and powered by flying reindeer.
Santa and Mrs. Claus this week took supersized rides to southeast Alaska in a C-17 military cargo plane and a camouflaged Humvee, as they delivered toys to the Tlingit village of Yakutat, northwest of Juneau, The Associated Press reported.
The visit was part of this year’s Operation Santa Claus, an outreach program of the Alaska National Guard to largely Indigenous communities in the nation’s largest state. Each year, the Guard picks a village that has suffered recent hardship — in Yakutat's case, a massive snowfall that threatened to buckle buildings in 2022.
“This is one of the funnest things we get to do, and this is a proud moment for the National Guard,” Maj. Gen. Torrence Saxe, adjutant general of the Alaska National Guard, said Wednesday.
Saxe wore a Guard uniform and a Santa hat that stretched his unit's dress regulations.
The Humvee caused a stir when it entered the school parking lot, and a buzz of “It’s Santa! It’s Santa!” pierced the cold air as dozens of elementary school children gathered outside.
In the school, Mrs. Claus read a Christmas story about the reindeer Dasher. The couple in red then sat for photos with nearly all of the 75 or so students and handed out new backpacks filled with gifts, books, snacks and school supplies donated by the Salvation Army. The school provided lunch, and a local restaurant provided the ice cream and toppings for a sundae bar.
Student Thomas Henry, 10, said while the contents of the backpack were “pretty good,” his favorite item was a plastic dinosaur.
Another, 9-year-old Mackenzie Ross, held her new plush seal toy as she walked around the school gym.
“I think it’s special that I have this opportunity to be here today because I’ve never experienced this before,” she said.
Yakutat, a Tlingit village of about 600 residents, is in the lowlands of the Gulf of Alaska, at the top of Alaska’s panhandle. Nearby is the Hubbard Glacier, a frequent stop for cruise ships.
Some of the National Guard members who visited Yakutat on Wednesday were also there in January 2022, when storms dumped about 6 feet (1.8 meters) of snow in a matter of days, damaging buildings.
Operation Santa started in 1956 when flooding severely curtailed subsistence hunting for residents of St. Mary’s, in western Alaska. Having to spend their money on food, they had little left for Christmas presents, so the military stepped in.
This year, visits were planned to two other communities hit by flooding. Santa’s visit to Circle, in northeastern Alaska, went off without a hitch. Severe weather prevented a visit to Crooked Creek, in the southwestern part of the state, but Christmas was saved when the gifts were delivered there Nov. 16.
“We tend to visit rural communities where it is very isolated,” said Jenni Ragland, service extension director with the Salvation Army Alaska Division. “A lot of kids haven’t traveled to big cities where we typically have Santa and big stores with Christmas gifts and Christmas trees, so we kind of bring the Christmas program on the road."
After the C-17 Globemaster III landed in Yakutat, it quickly returned to Joint Base Elmendorf-Richardson in Anchorage, an hour away, because there was nowhere to park it at the village's tiny airport. Later it returned to pick up the Christmas crew.
Santa and Mrs. Claus, along with their tuckered elves, were seen nodding off on the flight back.