According to the latest information received on the matter, Twitter owner Elon Musk is not the world’s richest person anymore. He briefly reclaimed the title, overtaking Bernard Arnault, but soon lost the coveted position.
Elon Musk, the CEO of Twitter, momentarily beat Bernard Arnault, the CEO of LVMH, the parent company of the luxury brand Louis Vuitton, to recover the title of richest person in the world. Musk briefly had the title of being the richest person, but he quickly lost the coveted position once more.
According to the Forbes Real-Time Billionaires List, Bernard Arnault’s net worth has surpassed Elon Musk’s existing wealth of $200 billion and is now at $216 billion. Musk, whose wealth is expected to decline by more than $100 billion in 2022, lost the title of richest man in the world to Arnault in December of the previous year as well.
Elon Musk’s net worth significantly decreased by over $100 billion in 2022, and Bernard Arnault succeeded him as the richest person in the world in December of that year. With a net worth of more than $185 billion, Elon Musk achieved the distinction of becoming the world’s richest person for the first time in January 2021.
Elon Musk owns Twitter, which as of last month was valued at about $15 billion, down significantly from the $44 billion Elon Musk and his co-investors had paid to purchase the site. This is a 33% decline.
Since he took over, Musk’s leadership of Twitter has caused financial issues.
It has been estimated that Twitter’s current value is just approximately one-third of the sum that Elon Musk first paid for the micro-blogging site, according to Fidelity’s monthly report on portfolio values.
