Elon Musk Loses Title of World's Richest Man, This Time to CEO of Luxury Goods Maker Louis Vuitton, With a Staggering Wealth of US$ 186 Billion

Elon Musk Loses Title of World’s Richest Man, This Time to CEO of Luxury Goods Maker Louis Vuitton, With a Staggering Wealth of US$ 186 Billion

Written by Roberta Souza

Published on 13/12/2022 at 22:12

Foto: Reprodução br.pinterest.com

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Now Holding the Title of the Richest Man in the World, in Place of Elon Musk, Bernard Arnault Is CEO of the French Luxury Brand LVMH, Maker of Items Like Louis Vuitton and Hennessy Cognac

Last Monday, Elon Musk lost, for the fourth time in less than a week, the title of the richest man in the world to Frenchman Bernard Arnault, CEO of the French Luxury Brand LVMH, which manufactures luxury items like Louis Vuitton and Hennessy cognac. According to Forbes’ real-time billionaire list, Musk’s fortune is estimated at US$ 181.6 billion, less than Arnault’s fortune of US$ 186.2 billion.

On the 7th (Wednesday), Elon Musk had already lost (twice!) the top spot on the billionaire list to the wealthy Arnault, but he regained the position on the same day. Then on the 8th (Thursday), Ekon Musk was overtaken again and only returned to the top on Friday, the 9th.

The significant rise of billionaire Arnault’s fortune and his achievement of the top spot on the billionaire list over Musk is due to LVMH’s stock being virtually stable in 2022. In contrast, the extensive capital of Musk suffered from a “dramatic collapse” of Tesla stock prices, which decreased by 56% this year, considering that Musk’s wealth peaked in November 2021, when it was valued at US$ 320 billion; he still holds a significant title.

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