Forbes: Elon Musk is no longer the world’s richest man

Forbes: Elon Musk is no longer the world’s richest man

Elon MuskCEO of Tesla, SpaceX and Twitterlost his place as the number 1 in the “World’s Billionaires List” presented by the magazine Forbes annually.

According to the release, Musk’s net worth is valued at $180 billion, down about $39 billion from last year.

Fashion takes over

Who is currently at the top of the table is. Bernard Arnaultthe chairman of luxury goods conglomerate LVMH.

Arnault saw his net worth increase in 2022 by more than $50 billion, reaching $211 billion.

This rate of Forbes is different from that of Bloombergwhich is updated periodically in a shorter period of time.

Bernard Arnault had an “exceptional” year in 2022, according to Forbes. LVMH brings together Louis Vuitton, Christian Dio and Tiffany & Co, companies that achieved record profits.

Its shares rose 25% over the past year and recently the world’s richest man has already devised a succession plan for his children.

Is it all Twitter’s fault?

According to the report, the decline in the wealth of Elon Musk yes it is due to the purchase of the social network for $44 billion.

This amount was financed with Tesla shares, which prompted the tycoon to sell his positions and decrease their value. Since then, the shares are worth less than before the purchase.

A particular detail of the list is that. Forbes claims that the world has fewer and fewer billionaires, falling from 2668 to 2640.

“It has been another rare negative year for the richest people on the planet. Nearly half the list is poorer than 12 months ago, but a lucky few are billions, or even tens of billions, of dollars richer,” said the senior editor of ForbesChase Peterson-Withorn.

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Daniel Chapman