Amazon founder Jeff Bezos has lost the title of the world’s richest person for the time being. In the race for leadership, he was overtaken by Bernard Arnault, the owner of Louis Vuitton Moët Hennessy (LVMH). Arnault currently has an estimated net worth of $192.9 billion, while Jeff Bezos is worth $192.4 billion. 

A drop in Bezos’ fortune came amid a 7.56% plunge in Amazon shares to $3,300 after the company presented its financial report for the second quarter of 2021. As it turned out, Amazon has failed to meet analysts’ earnings growth forecasts for the past three years. On top of that, heavy fines were levied on the e-commerce giant in the European Union for processing personal data in violation of the bloc's GDPR rules. Amazon came under scrutiny because it showed relevant ads to its users. According to sources familiar with the process, the corporation could be punished with a fine of up to €20 million.

SpaceX CEO Elon Musk ranks third on the list of the world’s richest people. His fortune expanded by $2.2 billion in a day and reached $179.4 billion.