Elon Musk, who saw his net worth tumble by more than $100 billion in 2022, has been replaced by Bernard Arnault, the chief executive of luxury brand Louis Vuitton’s parent company LVMH, as the world’s richest man.
According to the Bloomberg Billionaires Index, Musk, 51, is now worth $168.5 billion (as of Tuesday), less than the $172.9 billion net worth of Arnault, 73.
Last week, Arnault and his family for the first time logged personal wealth of $185.4 billion, ahead of Musk which recorded a net worth of $185.3 billion, before jumping again to $190 billion. Also, read- Twitter to remove legacy Blue ticks soon! – Here is what Elon Musk said
The Tesla CEO’s wealth eroded further after he bought Twitter for a whopping $44 billion.
The 51-year-old’s net worth peaked at $340 billion in November last year. Meanwhile, Tesla shares have plummeted around 58 per cent to date.In January 2021, Musk became the richest person in the world for the first time, with a net worth of more than $185 billion.
Meanwhile, Tesla shares are further sliding, amid reports that Tesla will cut production at its Shanghai plant by 20 per cent in December.
Click Here For Latest Updates On Stock Market | Zee Business Live
Stay connected with us on social media platform for instant update click here to join our Twitter, & Facebook
We are now on Telegram. Click here to join our channel (@TechiUpdate) and stay updated with the latest Technology headlines.
For all the latest World News Click Here