Richest man in the world

By Biodun Busari. Twitter and Tesla owner, Elon Musk has lost his place as the richest man in the world to Bernard Arnault, the chief executive of luxury ...

Arnault’s wealth is worth $185.8. Musk sold stocks in his electric-car company in order to fund the acquisition of the social media company. Forbes revealed this on Wednesday after Musk experienced a sharp drop in the value of his stake due to the recent purchase of Twitter to the tune of $44 billion.

Tesla boss and Twitter owner, Elon Musk, on Wednesday, lost the world's richest title to Bernard Arnault after a steep drop in the value of his stake in.

Elon Musk took over the World’s Richest title from Jeff Bezos, the founder of Amazon.com, in 2021, with a net worth of $185.7 billion. Tesla boss and Twitter owner, Elon Musk, on Wednesday, lost the world’s richest title to Bernard Arnault after a steep drop in the value of his stake in the electric-car maker and a $44 billion bet on the social media firm. According to Forbes, Bernard Arnault, who is the founder of the world’s largest luxury goods company, LVMH Moët Hennessy – Louis Vuitton SE, took the ‘world richest’ title with a personal wealth of $185.4 billion.

Twitter owner and Tesla boss Elon Musk briefly lost his title as the world's richest person on Wednesday, according to Forbes, following a steep drop in the ...

Tesla has lost nearly half its market value and Musk's net worth has dropped by about $70 billion since he bid for Twitter in April. Musk's net worth dropped below $200 billion earlier on Nov. Musk took over the title from Amazon.com Register for free to Reuters and know the full story [(LVMH.PA)](https://www.reuters.com/companies/LVMH.PA), and his family briefly took the title as the world's richest, but were back at No. [(TSLA.O)](https://www.reuters.com/companies/TSLA.O) boss Elon Musk briefly lost his title as the world's richest person on Wednesday, according to Forbes, following a steep drop in the value of his stake in the electric-car maker and a $44 billion bet on the social media firm.

Musk has held the title of world's richest person with Forbes since September 2021, displacing Amazon founder Jeff Bezos. But 2022 saw him laying out big ...

[maintains its own list](https://www.bloomberg.com/billionaires/) of the world’s billionaires, and its calculations shows Musk with a $14 billion lead over Arnault as of Dec. But Tesla’s loss of more than 47% of its value since the outspoken entrepreneur bought Twitter has impacted his bottom line. But 2022 saw him laying out big portions of that wealth to purchase Twitter, which was (in part) a catalyst for Tesla’s volatility, which brought his number even lower. (Bloomberg does not update its numbers in real time.) Close on his heels and seemingly poised to take the bragging rights for world’s richest person in the near term is Bernard Arnault, the chief executive of Louis Vuitton’s parent company LVMH, with an estimated $185.7 billion. Whether Musk stood in first or second place was often changing moment by moment.

For Elon Musk, making the decision to buy Twitter meant he would likely no longer be considered the wealthiest person in the world.

The brands Mr Arnault controls under the LVMH umbrella are quite impressive and amongst the most important in the world. Not that he cares too much about that, [Elon cares about making all his companies thrive](https://www.marca.com/en/technology/2022/12/04/638cd073268e3e23028b460c.html) and becoming the richest person was only a consequence of that drive. All of those brands are more than enough for Arnault to have amassed this fortune and become the wealthiest person in the world. Today, his brands are amongst the most consumed in the world of luxury fashion, lewlery, and liquor. [Elon Musk](https://www.marca.com/en/lifestyle/elon-musk.html), making the decision to buy Twitter meant he would likely no longer be considered the wealthiest person in the world. All of this resulted in Elon Musk's fortune being cut to $185.3 billion.

Elon Musk was briefly dethroned as the world's richest man. Bernard Arnault, CEO of LVMH, the parent company of the luxury fashion brand Louis Vuitton, ...

Follow GR on [Google News ](https://news.google.com/publications/CAAqLQgKIidDQklTRndnTWFoTUtFV2R5WldWcmNtVndiM0owWlhJdVkyOXRLQUFQAQ)and [subscribe here ](https://feedburner.google.com/fb/a/mailverify?uri=Greekreporter)to our daily email! [latest news](https://greekreporter.com/greek-news) from Greece and the world at [Greekreporter.com](https://greekreporter.com). Many of the employees were unhappy with Musk’s new vision for the company, which includes [longer working hours](https://greekreporter.com/2022/11/17/elon-musk-twitter-staff-work-hard-leave/) at a higher intensity. [fire former Twitter CEO](https://greekreporter.com/2022/10/28/elon-musk-fires-twitter-ceo/), Parag Agrawal. [stock prices plummeted](https://greekreporter.com/2022/11/23/elon-musk-loses-100-billion-in-net-worth-as-tesla-stock-prices-plummet/), causing Musk to lose approximately $100 billion of his net worth. [report](https://www.bloomberg.com/news/articles/2022-12-07/tesla-tsla-stock-slump-investors-frustrated-by-elon-musk-twitter-distraction) in Bloomberg, some Tesla investors are concerned that Musk is too preoccupied with Twitter to pay adequate attention to the electric car company. Musk had previously overtaken Amazon-found [Jeff Bezos](https://greekreporter.com/2022/11/14/jeff-bezos-climate-change/) in September, last year. He sold about $19 billion worth in shares so that he could afford to buy the social media company. He also [banned](https://greekreporter.com/2022/11/10/elon-musk-bans-twitter-employees-remote-working/) Twitter employees from working remotely and [ reinstated](https://greekreporter.com/2022/11/25/musk-grants-amnesty-suspended-twitter-accounts/) some banned Twitter accounts. However, this time the competition for the world’s richest man was not between Musk and Bezos. According to Forbes, Musk, who owns close to 25% of Tesla, is now worth 43% less than at his peak in November 2021. Elon Musk was briefly dethroned as the world’s richest man.

Elon Musk, Twitter and Tesla CEO, briefly lost his title as the World's richest person today, according to the Forbes list that tracks the wealth of the ...

Mr Arnault took the top spot in the Forbes list with a net worth of $185.3 billion. The steep drop in Mr Musk's net worth was due to Tesla shares going down and a $44 billion bet on Twitter. The company has lost about 60% of its workforce since Musk took over.

This will come months after Musk sold Tesla shares to finance the $44 billion purchase of Twitter. bella naija news · Bernard Arnault. According to Forbes, ...

[Elon Musk](https://nnn.ng/elon-musk-loses-the-title-of-richest-man-in-the-world-to-bernard-arnault/#Elon Musk) [](https://nnn.ng/#:~:text=da40 blogger outreach) [y](https://nnn.ng/videodownload/youtube-downloader/) after a sharp drop in the value of his stake in the electric car maker and a $44 billion [bet](https://nnn.ng/bet9ja/) on it.

Billionaire Elon Musk lost his position as the richest man in the world for the first time in over 14 months to a French billionaire dealing in luxury ...

[Forbes list.](https://www.businessinsider.com/who-is-bernard-arnault-richest-person-in-europe-lvmh-life-photos-2019-1) [world](https://www.legit.ng/world/) with $134.8 billion. [Amazon](https://www.legit.ng/1244716-how-hide-orders-amazon-app-family.html) founder Jeff Bezos fourth at $111.3 billion. [reports.](https://www.reuters.com/business/elon-musk-loses-title-worlds-richest-man-forbes-2022-12-07/) [Billionaires Index.](https://www.bloomberg.com/billionaires/#xj4y7vzkg) [Dave Ibemere](https://www.legit.ng/authors/dave-ibemere/)

He is the owner of the LVMH group, which owns some 70 companies, including Dom Perignon (wines), Louis Vuitton and Fenty Beauty by Rihanna.

Since then he has been Chairman and CEO of the company. “He returned the group to profitability as he embarked upon a strategy of developing the world’s leading luxury products company. Forbes Magazine releases an annual list of the world’s richest people, as it did in April this year, where Indian industrialists like Lakshmi Mittal, Kumar Birla and Shiv Nadar featured. Then in 1984, he undertook the reorganisation of the Financière Agache holding company. With a net worth of $185.4 billion, Musk is now again followed in the Forbes list by Arnault at $184.7 billion. The number three position is currently held by Indian businessman Gautam Adani, with a net worth of $135.4 billion.

Tesla Inc. and Twitter owner, Elon Musk briefly lost the title of the world's richest man on Wednesday.

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Billionaire businessman Elon Musk was recently knocked off the top spot on Forbes' real-time billionaires list for a short period, coming in second to ...

[France](https://nnn.ng/tag/france/). [LVMH Mo](https://nnn.ng/who-is-bernard-arnault-briefly-the-richest-man-in-the-world/#LVMH Mo) [](https://nnn.ng/#:~:text=blogger outreach marketing) Forbes magazine publishes an annual list of the world’s richest people, as it did in April this year, featuring Indian industrialists such as Lakshmi Mittal, Kumar Birla and Shiv Nadar. [y](https://nnn.ng/videodownload/youtube-downloader/) knocked off the top spot on Forbes’ real-time billionaires list for a short period, coming in second to Bernard Arnault and his family, owners of the [LVMH](https://nnn.ng/tag/lvmh/) Moët Hennessy Louis luxury brand group. Arnault is a French businessman, who is currently the Chairman and CEO of LVMH Moët Hennessy Louis Vuitton, one of the world’s most valuable luxury goods groups.

Elon Musk on Wednesday briefly lost his position as the richest person in the world to Chief Executive Officer of LVMH, Bernard Arnault, whose family owns ...

On September 27, 2021, Musk overtook Amazon’s Jeff Bezos to become the world’s richest person for the first time. According to Forbes, at 3:30 pm ET on Wednesday Arnault overtook Musk to become the world’s richest person with an estimated $184.7 billion but when US markets closed at 4pm ET Musk was back on top with $185.4 billion Elon Musk on Wednesday briefly lost his position as the richest person in the world to Chief Executive Officer of LVMH, Bernard Arnault, whose family owns luxury brand Louis Vuitton.