Elon Musk is no longer the world’s richest billionaire, having lost the title to LVMH’s Bernard Arnault after dominating the list for quite some time. This year, the Tesla and SpaceX CEO has lost a massive $107 billion fortune.
Musk, 51, who took over Twitter in late October, has lost billions since the acquisition, prior to which he was the sole member of the $200 billion wealth club. His net worth fell below $200 billion in early November as investors dumped Tesla shares on concerns that the world’s most valuable electric-vehicle maker’s top executive and largest shareholder is more preoccupied with Twitter.
According to the Bloomberg Billionaires Index, the billionaire is currently worth $164 billion (as of Tuesday), about $7 billion less than the world’s richest man, Arnault, who has a fortune of $171 billion. While Musk lost nearly $4 billion in a single day on Tuesday, Arnault, 73, made $4.13 billion, making him the richest man alive.
It is worth noting that Gautam Adani, India’s richest person, is just behind Musk and third on the list, with a fortune of $125 billion.
Musk has also fallen to second place on Forbes’ real-time billionaires list, with a net worth of $176.8 billion, while Arnault, the richest man, has a net worth of $188.6 billion.
Musk’s fortune has plummeted from a peak of $340 billion following his $44 billion purchase of the microblogging platform. This is the first time he has fallen out of first place since taking it in 2021.
Musk sells Tesla shares
According to SEC filings, Tesla CEO Elon Musk sold nearly $4 billion in shares in the electric car company last month. This came just a week after completing his $44 billion purchase of Twitter. According to SEC filings, Musk sold more than 19 million shares worth more than $3.9 billion. Musk financed a large portion of his Twitter purchase with Tesla stock.
World’s richest people
Amazon’s Jeff Bezos is fourth on the list with a net worth of $116 billion, and Microsoft co-founder Paul Allen is fifth on the list with a net worth of $116 billion.
Meanwhile, Mukesh Ambani, the chairman of RIL, is ranked ninth with an estimated net worth of $89.7 billion.