Elon Musk loses top place in Forbes ‘annual billionaires’ list
Elon Musk has officially been deposed from the top of Forbes’ annual “World’s Billionaire List” and is now the second-richest billionaire. VANGUARD reports.Information Guide Nigeria
Musk is now second to Bernard Arnault, the chairman of French luxury goods giant LVMH. His net worth increased more than $50 billion in the past year to $211 billion.
Forbes explained that Musk’s wealth had fallen because his $44 billion Twitter purchase, funded by Tesla shares, scared investors and sent Tesla stock sinking sharply last year.
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Live, Study and Work in Canada. No Payment is Required! Hurry Now click here to Apply >> Immigrate to CanadaTesla gained much of those losses back this year but is still significantly lower than before Musk bought Twitter, CNN reported on Tuesday.JAMB Result
Forbes added that “Elon Musk has mostly tweeted himself out of the top spot on the ranks” because Tesla shares are down 50% since his Twitter takeover a year ago. The magazine noted that SpaceX is a bright spot for Musk since its valuation has increased from $13 billion to $140 billion over the past year.JAMB Portal
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Amazon founder Jeff Bezos lost the most amount of money of any billionaire on the list ($57 billion), knocking him down from the second position to third. The loss can be attributed to Amazon shares losing nearly 40% of their value last year.NYSC Portal
As for Arnault, Forbes said the Frenchman had a “banner year” in 2022 because of record-high profits at the luxury conglomerate, which comprises Louis Vuitton, Christian Dior and Tiffany & Co. Shares of LVMH have climbed 25% over the past year and the patriarch has recently unveiled succession plans to his children.
Forbes on Tuesday said that the total number of billionaires on this year’s list fell to 2,640 (down from 2,668), marking the second-straight year of decline.
