$185.4 billion – That’s how much Elon Musk (51) has, according to “Forbes” magazine’s rich list. He is still the richest person in the world.
However, the gap with other billionaires is narrowing. Meanwhile, Musk was even surpassed by Bernard Arnault (73) and his family, as “Spiegel” wrote. Arnault is the boss of luxury goods group LVMH, which includes brands such as Louis Vuitton, Moët & Chandon, Hennessy and Dior.
According to Forbes, Arnault’s net worth is $184.7 billion – no less a billion than Musk. And Musk’s fortune is dwindling. His fortune has dropped nearly $70 billion since he made an offer to Twitter in April. According to “Forbes”, the Tesla boss lost $3.8 billion today alone, making him by far the biggest loser of the day.
Tesla continues to lose value
The reason why Musk’s wealth continues to decline is that his shares in Tesla have lost a lot of value in the meantime. Musk sold multiple stakes in Tesla to finance his $44 billion Twitter buyout. Since April, the automaker has lost almost half of its market value. Just yesterday, the share price fell 2.7 percent.
Musk has been at the top of the Forbes rich list since September 2021. He pushed Amazon founder Jeff Bezos (58) off the podium. Bezos currently ranks fourth in the rankings, with a net worth of $111.8 billion. (kae)
Source :Blick
I’m Tim David and I work as an author for 24 Instant News, covering the Market section. With a Bachelor’s Degree in Journalism, my mission is to provide accurate, timely and insightful news coverage that helps our readers stay informed about the latest trends in the market. My writing style is focused on making complex economic topics easy to understand for everyone.
