Elon Musk is no longer the richest man in the world. He was until last Tuesday, December 13, the date on which he gave up the top spot in the Bloomberg Billionaires Index to Bernard Arnault. Musk has fun tweeting, frequently seeks media exposure, and has a fortune from his business in the tech world. Arnold is not a fan of social networks; he prefers to avoid public appearances and made his empire thanks to the luxury industry.
Now that Musk has left the top millionaire position for the fashion mogul, we might think that Arnault increased his wealth in 2022 to climb the ranks. Nothing is further from reality. Both businessmen experienced billion-dollar drops in their assets, but those of the new owner of Twitter were so pronounced that they ended up wiping out much of his fortune. However, he is still occupying the not-inconsiderable second place.
Arnault “wins” with the fall of Musk.
According to the Bloomberg above index, Musk has seen how 138,000 million dollars vanished from his assets in 2022. The businessman of South African origin held 270,000 million dollars at the beginning of this year. Still, his fortune has been reduced to 132,000 million at the close of the market on December 28. These values translate into 51.11% less value of the set of assets related to the CEO of Tesla.
As we can see, billionaires’ fortunes are dynamic and can change from one day to the next. These are calculated considering the price of the person’s shares and assets such as real estate, art, and more. Precisely, the fall of almost 70% in Tesla shares has contributed significantly to the loss of Elon Musk’s assets and, to a lesser extent, the sale of these to finance part of the purchase of Twitter.
Sharlene Meriel is an avid gamer with a knack for technology. He has been writing about the latest technologies for the past 5 years. His contribution in technology journalism has been noteworthy. He is also a day trader with interest in the Forex market.