Elon Musk: Crown of the world's richest man snatched, Elon Musk got a big blow from Twitter, Bernard Arnault on top


Posted on 14th Dec 2022 04:30 pm by rohit kumar

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.

 

Also Read: Elon Musk: Elon Musk is afraid for his life, said – anyone can shoot, and cannot go anywhere in an open car

1 Like 0 Dislike
Previous news Next news
Other news

Insidious The Red Door: Panic reigns in cinemas! There will be a special show of this film at midnight before its release.

New Delhi, JNN. Horror films have a strong fan following in India as well, which delights in bein

Akshay Kumar: Akshay Kumar got angry at being called 'Modi devotee', and said - I have made films even during the Congress era.

Akshay Kumar is in the headlines these days for his latest release film 'Mission Raniganj'. The f

KKR vs SRH: KKR has prepared a 'master plan' for the IPL 2024 final, captain Shreyas Iyer revealed this after winning the qualifiers.

Kolkata Knight Riders made a spectacular entry in the final of IPL 2024. KKR entered the IPL fina

Diwali 2025 Kab Hai: When is Kartik Amavasya? Note the date and time of worshipping Goddess Lakshmi now.

Diwali is celebrated on Kartik Amavasya (Kartik Amavasya 2025). According to religious belief, Di

Rahul Dravid: Dravid's car collided with an auto in Bangalore, video of the argument between former India coach and auto-rickshaw driver

India's great batsman and former Team India coach Rahul Dravid's car collided with an auto-ricksh

Sana Mir: Sana Mir has crossed all limits of shamelessness! After her controversial statement, the former Pakistan captain is now seen offering clarification.

A major controversial incident occurred during the match between Pakistan and Bangladesh in the 2

'Confusion in Muslim society over Waqf Amendment Bill', Kiren Rijiju said- India is run by law

Union Minister for Minority Affairs Kiren Rijiju said that confusion is being spread in the Musli

PM Modi on Farmers: PM Modi's statement came amid the farmers' movement, and spoke from his heart

PM Modi on Farmers Farmers of Punjab and Haryana are agitating demanding a law on MSP. Meanwhile,

'The picture is yet to be completed...', after Operation Sindoor, the former army chief increased the suspense; Pakistan in tension.

In response to the terrorist attack in Pahalgam on April 22, the Indian Army took military action

Twitter Blue service relaunched: now apart from blue, gold, and gray ticks will also be removed, the blue check marks already found will be removed.

Twitter has launched its updated account verification program. Now all verified accounts will not

Sign up to write
Sign up now if you have flare of writing..
Login   |   Register
Follow Us
Indyaspeak @ Facebook Indyaspeak @ Twitter Indyaspeak @ Pinterest RSS



Play Free Quiz and Win Cash