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Elon Musk is no longer the richest man in the world

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Bloomberg has updated its Billionaire Index: Elon Musk is no longer the richest man in the world. The first place in the ranking goes to Bernard Arnault , the high fashion magnate who owns the LVMH group (Louis Vuitton, Hublot and Sephora, among others)

 

Elon Musk is the founder and CEO of Tesla, in which he is also the largest individual shareholder. The bulk of Musk’s wealth comes from Tesla stock . It follows that the value of his assets fluctuates in step with the stock market performance of the car manufacturer.

According to Forbes and Bloomberg, Elon Musk’s assets today are estimated at around 178 billion dollars , compared to 188 billion of the high fashion mogul’s assets.

Certainly the acquisition of Twitter had a major impact on the finances of Elon Musk, who had to sell part of his Tesla shares and created a climate of distrust among investors. Wedbush Securities analyst Dan Ives does not mince words: “the circus that accompanied the negotiations between Elon Musk and Twitter has weakened the value of Tesla”.

 

“Musk has gone from being a superhero, thanks to the positive rally in Tesla shares, to being a ‘villain’, a villain in the eyes of Wall Street investors capable of becoming more and more disturbing with every tweet he publishes”.

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The acquisition of Twitter, but also the controversial exits and in line with some fringes of the American conservative world, continues the analyst, would have “weaken the Elon Musk brand, and with him also Tesla”. Musk is Tesla and Tesla is Musk.

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