On the “Forbes” list of the super-rich, Elon Musk and Bernard Arnault are in an exciting race for first place on Wednesday. Arnault overtook the Tesla founder twice. Musk is now back at the top.
As reported by “Bild”, Bernard Arnault managed to oust Musk from his last undisputed number one spot on the list of the richest people in the world on Wednesday. After Arnault, the distributor of luxury brands such as Louis Vuitton, Dior, Fendi, Tiffany or Bulgari, had overtaken the Tesla boss, he was able to claim the title again less than two hours later.
Hours later, Arnault was again in the lead. A $100 million lead separated him from the Twitter boss. In the world of multi-billionaires, however, this sum is not very significant. We’re talking Arnault’s $184.7 billion fortune versus Musk’s $184.6 billion.
By comparison, as of November 2021, Musk had an incredible fortune of $320 billion, which put him indisputably at the top of the super-rich list. Back then, some saw him on the way to becoming the first billionaire in human history. A few months earlier, he had replaced Amazon founder Jeff Bezos at the top of the list.
After those highs in November 2021, his fortune decreased in size. According to “Bild”, this is partly due to the fact that Tesla’s share price plummeted. Reasons for this included disruptions in the supply chains caused by the “zero Covid” chaos in China. Musk owns around 25 percent of these shares, which is why his wealth is significantly linked to this share price.
Another reason for Musk’s fortune loss is the purchase of Twitter in October. In order to be able to raise the purchase price of 44 billion dollars together with other investors, he had to sell some of his blocks of shares.
Arnault, meanwhile, largely owes his brief stint to the top spot to Musk’s relegation. The share price of Arnault’s company LMVH also fell about ten percent this year. However, this is a much smaller loss than at Tesla.
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