Elon Musk loses world’s second-richest ranking as Tesla dips

Elon Musk’s Twitter posts keep sending Bitcoin prices tumbling. His own fortune is heading in the same direction.

On Monday, Tesla Inc.’s chief executive officer lost his spot as the world’s second-richest person to LVMH Chairman Bernard Arnault as the electric vehicle-maker’s shares fell 2.2%. That was on top of last week’s slump amid a rout in technology stocks and fresh signs of trouble in its China business. Musk, who held the top spot in the Bloomberg Billionaires Indexas recently as March, now has a fortune of $160.6 billion, down 24% from its January high.