Elon Musk, the owner of Tesla, SpaceX, and Twitter, has lost the title of being the world's richest. According to the Bloomberg Billionaires Index, Bernard Arnault has replaced him. He has now become the richest man in the world. Musk has suffered a major setback after Twitter's acquisition.
Arnault heads the fashion giant LVMH. The wealth of 51-year-old Elon Musk has declined by about $ 100 billion so far this year. His net worth has come down to $168.5 billion, while Arnault, 73, was valued at $172.9 billion on Monday morning. LVMH accounts for 48 percent of Arnault's wealth. According to Forbes the conglomerate owns around 70 fashion and beauty brands.
Tesla's share price fell by 50 percent
This year has been bad financially for Elon Musk. The value of his property has come down drastically. Recently, he acquired Twitter, the world's leading micro-blogging site, for $44 billion. After this, he suffered an economic setback due to the fall in the share prices of his companies. The stock of his flagship company Tesla has fallen by 50 percent this year.
Musk also tried to back out of the Twitter acquisition, but had to buy it due to a court tussle. To acquire Twitter, he had to sell Tesla shares worth more than $15 billion. When Musk finalized his acquisition of Twitter in October, the Bloomberg Wealth Index cut his net worth by $10 billion. Since the acquisition of Twitter, Musk has been making extensive changes to it. Steps like retrenchment and policy changes have also been taken, but controversies have also arisen along with these.
LVMH is a leader in fashion, wine, and retail
At the same time, France's LVMH (LVMH Moet Hennessy Louis Vuitton), the leading company of Bernard Arnault, who took the title of the world's richest man from Musk, is making huge profits from the boom again in the fashion, wine and retail sectors. Apart from the company's Christian Dior, Fendi, jewelers Bulgari, and Tiffany & Co, brands such as champagne houses have been steadily increasing their wealth.
Ranveer Allahabadia's objectionable statement about his parents in 'India's Got Latent' has put h
Khalistan supporter Amritpal Singh has threatened Home Minister Amit Shah in gestures. Amritpal s
Today is an important day for about 50 thousand people of Haldwani in Uttarakhand. A hearing will
The weather pattern is now changing in many states of North-West India. The Meteorological Depart
New India: New resolutions emerged from Sadhana; Our governance model is an example for the world
My dear countrymen, one phase of the biggest festival of democracy was completed on June 1. There
The case of rape and murder of a female doctor in a Kolkata hospital is continuously growing. Alo
Selective criticism of the judiciary in matters involving politicians is not good for democracy.
Amidst the G-20 summit, the weather patterns changed in 21 states including the national capital.
The National Pharmaceutical Pricing Authority (NPPA) has set limits on 119 drugs. Due to this, th
In IPL 2025, Delhi Capitals continued their winning campaign and defeated Royal Challengers Banga
