Elon Musk is no longer the richest man in the world

Economy

The takeover of Twitter and the decline in the value of Tesla did not suit the billionaire.

Elon Musk was on the first step of the podium for the richest men in the world. He succeeded Bill Gates, or even Jeff Bezos. Famous names in the world of technology and social networks. But today it seems that the world of technology is giving way to the world of fashion. Elon Musk must now give way to the top of the ranking of the richest men in the world in favor of the French billionaire Bernard Arnault, according to the ranking “Bloomberg Billionaires”, published on Wednesday.

The 73-year-old is president of the French luxury empire LVMH (Louis Vuitton, Dior, Moël & Chandon). According to Bloomberg estimates, Elon Musk’s personal fortune has shrunk by more than $100 billion since January to $163.6 billion. Bloomberg has estimated Bernard Arnault’s fortune at $170.8 billion (about €160.6 billion).

Also read> Sleepless nights, layoffs…: A look back at Elon Musk’s first week on Twitter

In the latest “Forbes” ranking, Elon Musk’s fortune is estimated at $176.8 billion, well behind Bernard Arnault ($188.6 billion). These charts are usually based on publicly available information about assets such as stocks, real estate, art and other luxuries owned by celebrities. They are therefore not accurate and can be contested. Bloomberg attributes Musk’s decline in fortune to the takeover of the micro-blogging service Twitter. Shares in electric car maker Tesla have also lost more than 50% of their value this year.

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