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

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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

Seen from space, an image taken by an astronaut shows an unlikely oasis in the Saudi Arabian desert, protected by a terrain that slows the advance of sand, surrounded by green circles, remnants of an extinct lake and nearly 10,000 years of preserved history.

The oldest tree in the world, alive since before the birth of Jesus Christ, is cut down in a scientific study and the case changes environmental preservation rules.

An entire island in the Pacific wants to surround itself with a colossal barrier against the ocean to try to escape increasingly violent waves and not be swallowed by the sea in the coming decades.

After ten days orbiting the Moon, science confirms that the astronauts of the Artemis II mission return with altered bodies.

Peru built a tunnel at an altitude of 4,738 meters cutting through the Andes Mountains, and the road leading to it reaches 4,818 meters, making it the highest paved road in the entire world.

In the Saudi Arabian desert, the world’s largest green hydrogen plant is 80% complete and will use 4 gigawatts of solar and wind energy to produce 600 tons of clean fuel per day when it opens in 2027.

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