Elon Musk loses World's Richest Man's title to Bernard ArnaultTop Stories

December 14, 2022 11:29
Elon Musk loses World's Richest Man's title to Bernard Arnault

(Image source from: Kalingatv.com)

Tesla Chief Elon Musk who is on the top of the list of the billionaires lost 100 billion USD this year and he is now replaced by Bernard Arnault, the CEO of Luxury brand Louis Vuitton's LVMH. He is the richest man in the world now. As per the reports from the Bloomberg Billionaires Index, Elon Musk's net worth is 168.5 billion USD which is 172.9 billion USD less than the net worth of Bernard Arnault. Elon Musk's wealth dropped down after he bought Twitter for a whopping price of 44 billion USD. His net worth peaked in November last year and the shares of Tesla came down by 58 percent in the recent times.

Elon Musk was named as the richest man in the world for the first time with a net worth of 185 billion USD. After Tesla decided to cut ddown the production in its Shanghai plant by 20 percent, the shares of Tesla started sliding. Elon Musk suffered with legal wrangling with Twitter and he finally had to complete the deal. Elon Musk sold billions of dollars worth shares of Tesla to purchase Twitter. There are talks that the demand for the electric cars of Tesla after which the shares came down in the recent weeks.

If you enjoyed this Post, Sign up for Newsletter

(And get daily dose of political, entertainment news straight to your inbox)

Rate This Article
(0 votes)
Tagged Under :
Elon Musk  Bernard Arnault  World richest