
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.
Foreign Minister S Jaishankar reached Austria's capital Vienna on Sunday after Cyprus. Here he in
North India, including the national capital, may have seen sunshine on the first day of the year,
Prabhas' mega budget film 'Kalki 2898 AD' has continued its strong performance and has achieved a
On Tuesday, there was a clash between the prisoners in the number-9 of Tihar Jail located in the
It is raining heavily in Delhi-NCR. Due to the rain, there has been waterlogging in many places.
The sentence will be announced today in the RG Kar case of Kolkata, the capital of West Bengal. A
Demonstrations took place in many places in Afghanistan on Wednesday following the Taliban's orde
Covid-19 in China: Zero Covid policy failed in China! public cost
On December 7, China suddenly relaxed its strict Zero Covid Policy without any plan. Since then t
Intense cold is gripping Delhi, Uttar Pradesh, and the entire North India region. The Meteorologi
Indian team's aggressive opener Yashasvi Jaiswal revealed that Shubman Gill is a very hardworking