After a troublesome day for Tesla on the stock markets, Elon Musk is no longer the world’s richest person. Tesla, of which Musk owns around 14 percent, saw prices drop by about 6.4 percent on Tuesday.
Since Musk sought to buy Twitter in April, shares of the company have halved in value, greatly decreasing his wealth. At time of writing, Forbes now puts Elon Musk as the second-richest person in the world with an estimated worth of $181.3 billion. Some would call that a tough break in a week when he was booed after being introduced on stage at a Dave Chapelle show as “the world’s richest man”.
According to the tracker, Musk still holds vastly more wealth than Gautam Adani ($134.4 billion) and Jeff Bezos ($113.8 billion). The Amazon founder pledged to give away most of his enormous wealth last month.
But the world’s richest person currently is Bernard Arnault with an estimated worth of $187.6 billion. The CEO and co-founder of LVMH Moët Hennessy Louis Vuitton saw his own worth fall an estimated $347 million yesterday, but not enough to offset Musk’s own losses.
Musk’s worth has fallen by over $100 billion in the year that saw him acquire social media giant Twitter for $44 billion. The social media platform has seen advertisers leave the site, placing a lot of pressure – for the company and Musk’s personal wealth – on Musk’s subscription service Twitter Blue. Early reports suggest that not enough people are subscribing to the service to make up for the advertising loss.
Source Link: Elon Musk And Jeff Bezos No Longer The World's Richest People