Twitter prevented Elon Musk from becoming the richest man in the world

Elon Musk, the founder of Tesla and SpaceX and owner of Twitter, no longer tops the list of the world’s richest people. This year, the palm went to Bernard Arnault, the head of the Louis Vuitton Moët Hennessy group of companies. Bloomberg media estimated his wealth at $ 171 billion, and Forbes — at $ 188.6 billion. At the same time, Musk owns assets worth $ 164 billion according to Bloomberg and $ 176.8 billion according to Forbes analysts.

Musk began to lose his wealth from the moment his story with the purchase of Twitter began. By the way, the billionaire’s fortune has only been falling since then. According to Forbes, yesterday, December 14, Musk lost $ 1.9 billion, while Arnaud, on the contrary, increased his wealth by $ 303 million.

Amid the Twitter tur moil, Tesla shares, Musk’s main asset, also began to fall in price. This was facilitated by the fact that the businessman had to sell a significant portion of the electric car manufacturer’s shares to acquire the social network. «The circus show with Twitter has damaged Musk’s brand, and it has greatly affected Tesla’s shares. Musk is Tesla, and Tesla is Musk,» commented Dan Ives of Wedbush Securities.

Elon Musk topped the billionaire ranking in 2021, ousting Amazon founder Jeff Bezos from the top spot. In the fall of the same year, Musk became the richest person in the history of the Forbes magazine ranking. It should be noted that on December 7, 2021, Musk was already losing his leadership in the Forbes billionaires' ranking. At that time, he was passed twice in an hour by Bernard Arnault. However, the entrepreneur soon rose to the top again.