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Elon Musk lost the richest man title twice in one day

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Elon Musk lost the richest man title twice in one day

Elon Musk lost the richest man title twice in one day





Elon Musk at the opening of the Tesla Gigafactory in Grünheide, Germany on March 22nd.  Photo: Reuters

Elon Musk at the opening of the Tesla Gigafactory in Grünheide, Germany on March 22nd.Photo: Reuters

consequences forbes14 months after Jeff Bezos was ousted, the CEO of Tesla and Twitter lost the title of world’s richest person for the first time, albeit briefly. Specifically, Musk’s net worth was valued at $185.3 billion as of midday on December 7, down $100 million from Arnaud, chairman of LVMH, which owns luxury brands like Louis Vuitton. By late afternoon, Musk had regained the top spot. But yesterday at 3:30 p.m., Arno Musk passed for the second time.

As markets closed on Dec. 7, the Twitter boss climbed further to the top of the chart with a net worth of $185.4 billion, $700 million more than Arno.

However, Musk’s fortune has shrunk by more than $100 billion this year as Tesla shares have fallen nearly 57% year-to-date. The decision to buy Twitter for $44 billion also caused Musk’s fortunes to plummet as he had to sell his stake to complete the deal. The focus on social media has also made investors skeptical about Tesla’s future.

Simultaneously on the chart BloombergThe Tesla CEO is still the richest person in the world, with an estimated net worth of $179 billion, $14 billion more than Bernard Arnault’s $165 billion. Elon Musk became the richest person last year, overtaking Jeff Bezos, the founder of Amazon. Once there, he sent Bezos a silver medal to celebrate his win.

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