Elon Musk, the billionaire entrepreneur is constantly in news these days, especially after his purchase of social media giant Twitter. Musk has made the headline again as he has lost the tag of world’s richest person. Though he did not have a super long run at the top like former wealthiest person in the world Bill Gates, Elon Musk has been almost like a fixture as the top of list lately.
Not anymore, if Bloomberg Billionaires Index is to be believed.
Taking over Twitter has drained Musk’s coffers as he shelled out USD 44 billion for the purchase. Though even after the purchase, Musk managed to hold on to the ‘richest’ tag for a good while, there are signs that he position may no longer be as solid as before.
From a peak value of USD 340 billion, Musk’s net worth is now USD 168.5 billion.
This has cleared way for another person to claim the spot of wealthiest person in the world.
Frenchman Bernard Arnault has grabbed the spot now with net worth of USD 172.9 billion.
Arnault’s mega-wealth is mainly derived from his 48 per cent stake in fashion giant LVMH.
Investors backing Elon Musk have been voicing concern ever since the protracted process of taking over Twitter began. As per media reports, the investors were worried that the former richest person in the world was spreading himself too thin. Musk already heads prominent companies like Tesla, SpaceX and more.
You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.
