Since September 2021, when he surpassed Amazon’s Jeff Bezos to become the world’s wealthiest individual, the CEO of Twitter and Tesla held the title of world’s richest person.
LVMH chairman and CEO Bernard Arnault have usurped Twitter and Tesla CEO Elon Musk’s position as the world’s richest person.
According to Forbes’ real-time billionaire’s list, the 51-year-net old’s worth declined by $4.5 billion (-2.9 percent) compared to Arnault, who handles over 70 fashion and beauty businesses, whose net worth increased by $849 million (0.4 percent).
According to Forbes, Arnault’s net worth is $187,3 billion (£151,1 billion).
In October, Arnault made news for selling his private jet after Twitter accounts such as @i fly Bernard and @laviondebernard emerged to track the billionaire’s aircraft and disclose the amount of pollution they produce.
The same thing had happened to Musk a year previously. The SpaceX and Tesla CEO regarded the tracker, which uses publicly accessible air-traffic data, as a potential threat to his safety.
He offered the youngster behind the social media website $5,000 (£4,000) to shut down the @ElonJet account, but the offer was declined. The account has been suspended today.
Musk’s $176.8bn (£142.6bn) real-time net worth is mostly based on his 25 percent stake in Tesla, despite today’s stock market decline of 6.87%.
CNBC says that Musk sold around $4bn (£3.2bn) of Tesla stock in the wake of his $44bn (£35.5bn) acquisition of Twitter, which contributed to a more than halving of the value of the automaker’s shares this year.
According to Forbes, the businessman’s wealth peaked in November 2021, when he was worth $320 billion (£258 billion).
The Bloomberg Billionaires Index, which employs a somewhat different methodology, was revised on Wednesday and placed Musk’s worth behind that of Arnault.
Musk had been the wealthiest man in the world since September 2021, when he surpassed Amazon CEO, Jeff Bezos.
The majority of Musk’s wealth is related to his private enterprises, which include rocket and internet company SpaceX, infrastructure and tunnel construction services company The Boring Company, and Neuralink, which aims to implant computer chips into people’s brains.
According to Bloomberg, SpaceX, originally known as Space Exploration Technologies Corp, is worth over $140 billion and controls the commercial space launch business.
Musk’s fall in worldwide wealth rankings coincides with his embarrassing appearance at a Dave Chappelle comedy concert in San Francisco when he was met with “a lot of boos.”
In a video released to the billionaire’s Twitter account, Chappelle can be seen urging the audience to “make some noise for the richest man”
They swiftly comply, though perhaps not in the manner either man expected. Musk spent most of his five-minute appearance uncomfortable standing stationary or pacing the stage as he attempted to disrupt the negative response.
Musk claimed in a now-deleted tweet that the crowd was “90% applause and 10% boos” because he had angered “San Francisco’s deranged leftists.”
One day after his performance with Chappelle, Twitter disbanded its Trust and Safety Council, which was established in 2016 to combat hate speech, child exploitation, suicide, self-harm, and other issues on the platform.
Musk stated he would organize a new “content moderation council” to assist with critical decisions shortly after acquiring Twitter for $44 billion in late October but later recanted.
In a public statement issued on Twitter last week, three council members stated that “contrary to Elon Musk’s promises, the safety and wellness of Twitter’s users are deteriorating.”
