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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

Written by Roberta Souza Published on 13/12/2022 at 22:12

Economy

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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.

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Roberta Souza

Author for the Click Petróleo e Gás portal since 2019, responsible for publishing over 8,000 articles that have garnered millions of views, combining technical expertise, clarity, and engagement to inform and connect readers. A Petroleum Engineer with a postgraduate degree in Industrial Unit Commissioning, I also bring practical experience and background in the agribusiness sector, which broadens my perspective and versatility in producing specialized content. I develop content topics, disseminate job opportunities, and create advertising materials tailored for the industry audience. For content suggestions, job vacancy promotion, or advertising proposals, please contact via email: santizatagpc@gmail.com. We do not accept resumes

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

Chinese Teen Wins Gold in Germany for Invention Turning Air Moisture into Underground Irrigation in Drought-Stricken Areas

Indian Driver Spends 14 Years Digging 10-Meter Tunnel Through Mountain to Connect Isolated Village to the World

Man Who Spent 27 Years Cleaning Classrooms in Louisiana Becomes Principal of the Same School at 39

Indian Teens Win National Geographic Award at Google Science Fair for Using Common Sour Fruit to Naturally Coagulate Rubber in 6 Hours, Reducing Production Time by 10 Hours

Nigeria Dumps 120 Million Tons of Sand into Atlantic to Build Massive City with 8.4 km Sea Wall for Protection Against Ocean Waves and Erosion

South Korea Tows 18 Concrete Blocks Weighing Up to 48,000 Tons Over 36 km to Construct a 3.2 km Underwater Tunnel Between Busan and Geoje, Installed Nearly 50 Meters Deep

India Begins Drilling Massive Twin Tunnel Under National Park to Cut Mumbai Commute by 12 km and Save Up to 1 Hour

Labor shortage reaches the truck drivers’ area: Brazil is already facing a deficit of 120,000 drivers, 65.1% of transport companies feel the impacts, and Mercedes-Benz strengthens training in the face of the new generation of technological trucks.

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