HomeTechnologyElon Musk's wealth has fallen more this year than the GDP of...

Elon Musk’s wealth has fallen more this year than the GDP of many countries


1998: Elon Musk in his early days in Silicon Valley, the future of the Internet


1998: Elon Musk in his early days in Silicon Valley, the future of the Internet

02:10

Elon Musk is many things, but as of this week he is no longer the richest person in the world. That status now belongs to Frenchman Bernard Arnault, chairman and chief executive of luxury goods maker LVMH, according to Forbes Y Bloomberg News.

It marks the first time the owner of Tesla and SpaceX has slipped from the top of the ranking since he overtook Amazon founder Jeff Bezos as the richest person in September 2021.

During a tumultuous year, Musk’s wealth has shrunk by more than $100 billion, more than the GDP of Bulgaria, Croatia, Iceland and Uruguay, according to the World Bank. data.

Musk, 51,’s wealth is largely tied to Tesla’s share price, which has lost more than half its value since January, the decline only deepening after Musk’s downfall. $44 billion purchase of Twitter.


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07:53

Arnault’s net worth is now $190.9 billion, while Musk’s is worth $174 billion, according to Forbes, which dropped Musk from the top spot in its ranking Monday night. Arnault, 73, owns 48% of LVMH, which owns brands including Louis Vuitton and Tiffany.

the Bloomberg Billionaires Index estimates Arnault’s fortune at $171 billion and Musk’s at $164 billion, a loss of $107 billion for the year.

Since completing the acquisition of the social media platform in October, Musk’s chaotic reign has included a advertiser exodus of the social network amid concerns about a wave of misinformation and hate speech.




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