Elon Musk Briefly Loses World’s Richest Man Title To Louis Vuitton CEO Bernard Arnault
Elon Musk Briefly Loses World’s Richest Man Title To Louis Vuitton CEO Bernard Arnault
Billionaire, Elon Musk, the new CEO of Twitter and Telsa, was dethroned from his perch as the world’s richest person by Bernard Arnault, the CEO of Louis Vuitton, who was worth $185.8 billion at the time, or about $400 million more than Musk.
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Musk’s reported decision to acquire Twitter, which required the Tesla CEO to inject 44 billion dollars, led to a drop in his wealth below $200 billion.
Musk’s unwavering focus on Twitter has allegedly led to a steady decline in Tesla stock, with the CEO selling nearly 20 million shares worth about $4 billion.
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Musk is very rich because he is the CEO and owner of several successful businesses, including Tesla, Twitter, SpaceX, Neuralink, and The Boring Company. There is a lot of movement in the Frobes’ billionaire rankings throughout the day’s trading, but Musk was able to regain his previous position later.
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