Elon Musk is no longer the richest man on the planet, according to Forbes

New York
CNN Business
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Elon Musk He is no longer the richest person in the world, according to Forbes.

On Thursday, Musk slipped to No. 2 Forbes list of “real-time billionaires” The CEO of Twitter and Tesla has put behind Bernard Arnault, CEO of French luxury brand LVMH, maker of luxury goods Louis Vuitton and Hennessy cognac. Forbes now pegs Musk’s fortune at $183.6 billion, just below Arnault’s estimated fortune of $186.2 billion.

Forbes noted On Wednesday, Arnault’s rally was because LVMH stock has been mostly flat this year, while Musk has seen a “dramatic collapse of Tesla’s share price,” which is down 56% in 2022. strategy Acquiescence to right-wing influencers on Twitter may also have an impact on Tesla’s posts. Forbes said Musk’s wealth peaked in November 2021, when he was worth $320 billion.

Musk was recently sold About $4 billion of Tesla stock to fund it $44 billion to buy Twitter, Which is embroiled in problems including layoffs and fickle advertisers who warn about the platform’s direction. Musk sold blocks of Tesla stock worth a total of $15.4 billion earlier this year when his deal to buy Twitter was announced.

Estimating Musk’s wealth in general is a difficult task, since much of his money is tied up in his private companies, including rocket and internet company SpaceX, tunnel-blasting company The Boring Company and Neuralink, which wants to put computer chips into people’s brains. ..

Despite the losses, Mask is edging out to third place Indian billionaire Gautam AdaniWho has a net worth of $135 billion and Amazon founder Jeff Bezos, whose fortune is estimated at $113.1 billion.

On the Bloomberg Billionaires Index, Musk ranks firmly in the top spot with a net worth of $171 billion. Arnault ranks second with a net worth of $166 billion. However, Musk has lost about $100 billion this year, according to Bloomberg’s calculations. This list is updated daily after the market closes.