Twitter CEO Elon Musk has lost his position as the richest person in the world after decline in the value of his investment in Tesla and $44 billion wager on Twitter.
According to Forbes’ list of “The Real-Time Billionaires List” released on Tuesday, Elon Musk’s estimated net worth, is $180 billion against $39 billion from the previous year,
The $44 billion purchase of Twitter, which was funded with Tesla stock, is the reason Musk drop to second place on the list of the world’s billionaires making Bernard Arnault at the top place.
Musk was outshined by the French luxury goods tycoon Bernard Arnault to become the richest person in the world.
According to Forbe, the 74-year-old engineer tops the 2023 billionaires list with a $211 billion fortune, exceeding Elon Musk, as number one in 2022, now number 2 by $31 billion.
A French luxury goods magnate, Bernard Arnault, is the world’s richest billionaire by Forbes with $211 billion Fortune and Musk $31billion.