Billionaire Elon Musk has lost his lead in the list of the world’s richest people at least twice a day. forbes. In the first place were Bernard Arnault, the owner of the French luxury goods manufacturer LVMH (LVMH Moet Hennessy – Louis Vuitton) and his family members.
Musk lost the first place in the rating to Arno and his family for the first time, when his fortune was estimated at $ 184.6 billion and the Frenchman’s fortune was estimated at $ 185.1 billion.
Later, Musk’s wealth is estimated at $ 185.8 billion, and the fortune of Arno and his relatives at $ 184.7 billion.
The list is updated in real time – about a billion dollars in amplitude.
Reuters attributed the hesitation to Musk being forced to sell some of his Tesla shares to use the proceeds from the sale of securities to buy Twitter.
At the end of October, Forbes reported that the American entrepreneur has lost more than a third (35%) of his wealth since the beginning of November 2021. A year ago, the magazine estimated a billionaire’s fortune at $320.3 billion in the fall – $209.4 billion In October of this year alone, Musk lost $28 billion.
On October 19, Tesla released its financial report for the third quarter (July-September), and the results disappointed investors. The electric car company earned $21.5 billion, just under Wall Street’s $22 billion estimate.
In November last year, Tesla stock prices grew on the contrary, and on November 1, 2021, Musk’s current wealth exceeded 300 billion dollars. He was the first person in history whose fortune exceeded this mark.
Bloomberg rating
By evaluation billionaire Bloomberg, Musk still ranks first. The agency estimates his fortune at $179 billion (-$2.29 billion).
Bernard Arnault is in second place with $165 billion (-$82.7 billion). In third place is Indian billionaire Gautama Adani with $127 billion (+$1.13 billion).
At the end of November, Bloomberg wrote that Musk’s fortune has decreased by more than $100 billion since the beginning of 2022.
“runaway bird”
At the end of October, Musk finally bought Twitter described the deal as “the bird is free.” The billionaire had to pay $44 billion for the social network Musk’s plans to buy it became clear in April, and all business media followed the negotiation process after that.
First, Musk fired social network executives, accusing top executives of misleading him and investors due to the large number of fake accounts on the platform. After the layoff, Musk ran the company himself.
Explaining the reasons for the purchase and talking about Twitter’s future development strategy, the entrepreneur claimed that he wanted to maximize “freedom of expression on the social network.” At the same time, he promised, referring to advertisers, that Twitter would not turn into “a free hell where you can say anything without consequences”!
On October 27, pending the completion of the deal between Twitter and Elon Musk, he changed his billionaire status to “Chief Twit” (“tweet chief”).
He then ordered to unblock the profiles of Donald Trump and Kanye West – the first did not return, the second had to be blocked again due to anti-Semitism.
Source: Gazeta
Ben Stock is a business analyst and writer for “Social Bites”. He offers insightful articles on the latest business news and developments, providing readers with a comprehensive understanding of the business world.