According to Forbes, Arnault and his family logged personal wealth of $185.4 billion, ahead of Musk which recorded a net worth of $185.3 billion, before reaching around $190 billion.
Musk's wealth has fallen $100.5 billion so far in 2022, as per Bloomberg Billionaires Index.
The Tesla CEO's wealth eroded further after he bought Twitter for a whopping $44 billion.
The 51-year-old's net worth peaked at $340 billion in November last year.
Tesla shares have plummeted around 58 per cent to date.
Musk's net worth currently eclipses Amazon founder Jeff Bezos and Microsoft co-founder Bill Gates.
In January 2021, Musk became the richest person in the world for the first time, with a net worth of more than $185 billion.
Meanwhile, Tesla shares are sliding, amid reports that Tesla will cut production at its Shanghai plant by 20 per cent in December.
(IANS)
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