It’s time to bring out the celebratory champagne ! Elon Musk has taken over the title of the world’s richest man from Bernard Arnault. Musk, who recently acquired Twitter has faced many difficulties running the platform. While he figures out Twitter, he has something to celebrate for with his new title.
But Elon Musk’s recent achievement comes with troubling development. According to recent reports, the value of Twitter has come down to one-third of what the tech billionaire paid for it. From $44 billion, Twitter’s worth currently stands at roughly $16 billion. Definitely a worrying sign for the newly crowned billionaire.
Elon Makes Reclaims The Title Of The World’s Richest Man
Tech billionaire Elon Musk is once again the world’s richest man. According to the recent Bloomberg Billionaire’s report’s, Musk has usurped his longtime competetor French business magnate Bernard Arnault. Arnault is the Chief Executive Officer of LVMH, world’s largest provider of luxury goods like Louis Vuitton, Fendi and Hennessy.
The Tesla CEO got to be on the top of the list when Arnault’s stock plummeting 2.6% during the Paris trading on Wednesday. Thanks to Tesla, which forms 71% percentage of his fortune, the Austin-based automobile maker edged over to the top over his French competitor.
In Case You Missed: “Darkest Days”: Elon Musk Once Tried To Sell Tesla To Google In 2013 For 1/3rd Of Its Valuation
Elon Musk’s Twitter Declines In Value
The news of Elon Musk becoming the world’s richest man comes right after Asset manager Fidelity reported it’s net worth. When tech billionaire purchased Twitter, it was valued at $44 billion. Currently, its value stands below $15 million. Fidelity itself has an investment of $20 million the company.
Elon Musk brought the microblogging platform back in October 2022, expanding his portfolio. He’s recently been slammed with lawsuits for non payment of rents and other contractual violations. Hopefully, under the new CEO Linda Yaccarino, things will improve at Twitter and help Musk stay on top for a while.
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