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

Libya built over 4,000 kilometers of underground pipelines to bring water from the Sahara to coastal cities in a project that the government itself called the Eighth Wonder of the World.

Desert sand, previously discarded for being too smooth for concrete, becomes an ecological brick in the United Arab Emirates, dispensing with Portland cement, curing at room temperature, and attempting to transform dunes useless for construction into raw material for a new arid engineering.

He transformed an abandoned plastic water tank into an underground house in the “hobbit hole” style, using only repurposed pallet wood, without heavy machinery or expensive labor.

China transforms desert-devastated area into the world’s largest artificial forest, planting trees for 60 years, blocking sand that reached Beijing, and creating a “green lung” of 92,000 hectares in a region once considered lost.

Toyota launches “family hybrid van” with 7 or 8 seats, 1.8 hybrid engine, fuel consumption of up to 23.8 km/l, and a price equivalent to about R$ 104,000 without taxes, below the Tiggo 8 Pro Plug-in Hybrid sold in Brazil: meet the Noah Hybrid 2026 in Japan.

With 70 tons of rock removed by hand and an 800-year-old abandoned cave, a former businessman transforms a dark shelter into a modern home carved in the heart of the forest.

Engine without traditional cylinder head could change the future of hybrids: Aramco creates DHE technology that simplifies mechanics, promises to reduce consumption by up to 25%, and challenges decades of evolution in combustion engines.

11-year-old girl sees that the family didn’t have money for her father’s headstone, sets up a lemonade stand and raises almost $3,000 with the help of the community.

Archaeologists excavating a train project in France have found, under meters of mud from the Seine River, a Mesolithic camp from 10,000 years ago that seemed to have disappeared from human history.

Son finds father’s forgotten notebooks and helps scientists solve the mystery of a 55-million-year-old marine fossil that remained unanswered for almost three decades.

While other coffees escape the American tariff hike, Brazilian instant coffee is excluded, raising an alert in the sector and may become up to 37.5% more expensive in the United States.

Central Bank changes rule that lasted decades and allows dollar and euro accounts in Brazil for exporters and companies with foreign capital, eliminating the need for currency exchange in some transfers starting in October 2026.

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

Libya built over 4,000 kilometers of underground pipelines to bring water from the Sahara to coastal cities in a project that the government itself called the Eighth Wonder of the World.

Desert sand, previously discarded for being too smooth for concrete, becomes an ecological brick in the United Arab Emirates, dispensing with Portland cement, curing at room temperature, and attempting to transform dunes useless for construction into raw material for a new arid engineering.

He transformed an abandoned plastic water tank into an underground house in the “hobbit hole” style, using only repurposed pallet wood, without heavy machinery or expensive labor.

China transforms desert-devastated area into the world’s largest artificial forest, planting trees for 60 years, blocking sand that reached Beijing, and creating a “green lung” of 92,000 hectares in a region once considered lost.

Toyota launches “family hybrid van” with 7 or 8 seats, 1.8 hybrid engine, fuel consumption of up to 23.8 km/l, and a price equivalent to about R$ 104,000 without taxes, below the Tiggo 8 Pro Plug-in Hybrid sold in Brazil: meet the Noah Hybrid 2026 in Japan.

With 70 tons of rock removed by hand and an 800-year-old abandoned cave, a former businessman transforms a dark shelter into a modern home carved in the heart of the forest.

Engine without traditional cylinder head could change the future of hybrids: Aramco creates DHE technology that simplifies mechanics, promises to reduce consumption by up to 25%, and challenges decades of evolution in combustion engines.

Central Bank changes rule that lasted decades and allows dollar and euro accounts in Brazil for exporters and companies with foreign capital, eliminating the need for currency exchange in some transfers starting in October 2026.

The Central Bank ends the R$ 500 limit on Pix by approximation, and account holders will be able to use the general Pix limit to pay any amount by tapping their phone on the terminal starting in October 2026.

PIX from BRICS becomes reality: BRICS Pay advances to enable international payments without the dollar; system inspired by Pix and based on blockchain could move up to 20% of global trade by 2030, while bloc countries already account for 40% of the world economy.

After a motorcycle accident at 17, a Bahian agronomist borrowed R$ 40 from his mother, transformed a homemade granola recipe into Tia Sônia, and reached R$ 120 million, targeting São Paulo with 300 tons monthly and 80 products.

11-year-old girl sees that the family didn’t have money for her father’s headstone, sets up a lemonade stand and raises almost $3,000 with the help of the community.

Archaeologists excavating a train project in France have found, under meters of mud from the Seine River, a Mesolithic camp from 10,000 years ago that seemed to have disappeared from human history.

Son finds father’s forgotten notebooks and helps scientists solve the mystery of a 55-million-year-old marine fossil that remained unanswered for almost three decades.

While other coffees escape the American tariff hike, Brazilian instant coffee is excluded, raising an alert in the sector and may become up to 37.5% more expensive in the United States.

Central Bank changes rule that lasted decades and allows dollar and euro accounts in Brazil for exporters and companies with foreign capital, eliminating the need for currency exchange in some transfers starting in October 2026.