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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LEARN ABOUT THE LIFE OF BILLIONAIRE ELON MUSK

Elon Musk’s Fortune

The still-billionaire Elon Musk has currently transferred approximately US$ 4 billion in Tesla shares to finance his US$ 44 billion purchase of Twitter, which involves issues like layoffs and advertisers on edge, cautious about the platform’s direction. Previously, the wealthy individual had already given up US$ 15.4 billion in Tesla shares in early 2022, when the Twitter acquisition deal was announced.

Still facing losses and uncertain movements, billionaire Elon Musk is well ahead of the third richest billionaire in the world, Indian Gautam Adani, who has an estimated fortune of US$ 134.1 billion, and the founder of Amazon, Jeff Bezos, whose fortune is estimated at US$ 112.7 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

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

LEARN ABOUT THE LIFE OF BILLIONAIRE ELON MUSK

Elon Musk’s Fortune

A giant printer called the “Ferrari” of concrete has landed in Latin America and can already build a 120-square-meter house in just 48 hours, making the traditional construction site look like something from the last century.

A British company has installed in the middle of the ocean the world’s first floating platform that generates electricity 24 hours a day from the temperature difference between the surface and the depths of the Atlantic, without relying on wind or sun.

Great Atlantic Sargassum Belt has ceased to be a climatic phenomenon and has become a biological system that feeds on itself, with 8,000 kilometers in length, 37 million tons of algae, and scientists confirm that it is now permanent.

China is building an artificial island in the middle of the sea, covering 20 km², to construct the largest offshore airport in the world, the Dalian Jinzhouwan. This $4.3 billion project is anchored on more than 3,000 pillars embedded in the rock beneath the ocean and is scheduled to open in 2035.

A robot named Walter does the work of five bricklayers per hour and can save the construction industry, where the average age of professionals is 46 years and almost no one wants to learn the trade anymore, in the United Kingdom.

Engineers had to pour concrete mixed with tons of ice throughout entire nights in the Dubai desert to erect the Burj Khalifa; any carelessness could clog the pipes half a mile high.

The James Webb telescope spotted a planet 700 light-years from Earth with mornings full of sand clouds and nights with clear skies, the temperature difference between the two hemispheres reaches an impressive 170 degrees.

The race of humanoid robots in factories has truly begun, Hyundai announced that it will deploy more than 25,000 units of Atlas in its production lines starting in 2028, in a partnership that involves Boston Dynamics and training with Google DeepMind.

After nearly three decades and more than 1 million cars produced, Toyota will close the historic Indaiatuba plant on June 30 and concentrate Corolla production in Sorocaba, as part of an R$ 11 billion plan that heavily invests in flex hybrids and even an unprecedented pickup.

The number of Brazilian meatpacking plants with suspended meat sales to China rises to five, after the Chinese blocked the JBS unit in Vilhena due to the presence of hormones in the shipments, adding extra pressure on the sector on the eve of the 2026 export quota being exhausted.

How much does it cost to live with dignity in Brazil? A study found that in all 79 regions analyzed, the necessary salary was above the minimum of R$ 1,621. In São Paulo, a family of four needs R$ 6,155 per month.

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

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

LEARN ABOUT THE LIFE OF BILLIONAIRE ELON MUSK

Elon Musk’s Fortune

A giant printer called the “Ferrari” of concrete has landed in Latin America and can already build a 120-square-meter house in just 48 hours, making the traditional construction site look like something from the last century.

A British company has installed in the middle of the ocean the world’s first floating platform that generates electricity 24 hours a day from the temperature difference between the surface and the depths of the Atlantic, without relying on wind or sun.

Great Atlantic Sargassum Belt has ceased to be a climatic phenomenon and has become a biological system that feeds on itself, with 8,000 kilometers in length, 37 million tons of algae, and scientists confirm that it is now permanent.

China is building an artificial island in the middle of the sea, covering 20 km², to construct the largest offshore airport in the world, the Dalian Jinzhouwan. This $4.3 billion project is anchored on more than 3,000 pillars embedded in the rock beneath the ocean and is scheduled to open in 2035.

A robot named Walter does the work of five bricklayers per hour and can save the construction industry, where the average age of professionals is 46 years and almost no one wants to learn the trade anymore, in the United Kingdom.

Engineers had to pour concrete mixed with tons of ice throughout entire nights in the Dubai desert to erect the Burj Khalifa; any carelessness could clog the pipes half a mile high.

The James Webb telescope spotted a planet 700 light-years from Earth with mornings full of sand clouds and nights with clear skies, the temperature difference between the two hemispheres reaches an impressive 170 degrees.

After nearly three decades and more than 1 million cars produced, Toyota will close the historic Indaiatuba plant on June 30 and concentrate Corolla production in Sorocaba, as part of an R$ 11 billion plan that heavily invests in flex hybrids and even an unprecedented pickup.

The number of Brazilian meatpacking plants with suspended meat sales to China rises to five, after the Chinese blocked the JBS unit in Vilhena due to the presence of hormones in the shipments, adding extra pressure on the sector on the eve of the 2026 export quota being exhausted.

How much does it cost to live with dignity in Brazil? A study found that in all 79 regions analyzed, the necessary salary was above the minimum of R$ 1,621. In São Paulo, a family of four needs R$ 6,155 per month.

Brazil, Norway, and the Netherlands aim to create the first green maritime corridor in the Atlantic, after routes emitted 4.7 million tons of CO₂e, and seek to transform ports, fuels, and trade between South America and Europe into a new global logistics race.

The race of humanoid robots in factories has truly begun, Hyundai announced that it will deploy more than 25,000 units of Atlas in its production lines starting in 2028, in a partnership that involves Boston Dynamics and training with Google DeepMind.

After nearly three decades and more than 1 million cars produced, Toyota will close the historic Indaiatuba plant on June 30 and concentrate Corolla production in Sorocaba, as part of an R$ 11 billion plan that heavily invests in flex hybrids and even an unprecedented pickup.

The number of Brazilian meatpacking plants with suspended meat sales to China rises to five, after the Chinese blocked the JBS unit in Vilhena due to the presence of hormones in the shipments, adding extra pressure on the sector on the eve of the 2026 export quota being exhausted.

How much does it cost to live with dignity in Brazil? A study found that in all 79 regions analyzed, the necessary salary was above the minimum of R$ 1,621. In São Paulo, a family of four needs R$ 6,155 per month.