World’s Billionaires List, Forbes’ top annual list has recently dethroned Elon Musk as the first in the list. Now, the chief of Tesla and Twitter sat on the second-richest billionaire with the estimation of $180. This is actually $39 billion less than a year before. The top position is now earned by Bernard Arnault. He is the chairman of French Luxury goods giant LVMH. Arnault;s net worth this year has increased more than $50 billion. His last year’s net worth was $211 billion.
Actually it is not such a surprise for Musk in which his position is in the second place in the Real-Time Billionaires list. The update is daily, plus in these few months Musk and Arnault often switch positions. The concern is that the list is tracked annually. According to Forbes, Musk’s wealth has plunged due to his $44 billion Twitter acquisition. This fund was from Tesla shares. Thus, investors and Tesla stock are sinking this year. Although Tesla has benefited again after the losses, it remains lower especially after Musk bought Twitter.
Forbes added that Musk often has tweeted himself out of the top spot on the ranks. This is because Tesla’s shares plummeted for as much as 50%. It is since his Twitter takeover a year ago. Meanwhile, SapceX noted that the billionaire owns a bright spot. Because, the company valuation has surged from $13 billion to $140 billion in these years.
For Arnault, Forbes argued that it is due to the record-high profits at the luxury conglomerate. This comprises Louis Vuitton, Tiffany & Co, and Christian Dior. Shares of LVMH alone has increased 25% in the past years.
