The boss of the electric car manufacturer Tesla and the short message service Twitter, Elon Muskis no longer the richest person in the world, according to the Bloomberg Billionaires and Forbes rankings.
Previous leader Musk took second place behind the French entrepreneur Bernard Arnold. Arnault is chairman of the LMVH group, which owns luxury brands such as Dior and Louis Vuitton. His fortune is estimated at $170.8 billion.
Musk’s personal wealth has fallen by more than $100 billion to $163.6 billion since last January. The main reason for this is the purchase of the short message service Twitter for 44 billion US dollars last October. Tesla stock has also fallen more than 50 percent this year.
Shortly after the completion of the Twitter takeover, Musk complained about a drop in sales at the short message service due to the migration of large advertising customers. These had withdrawn their orders in rows after Musk’s announcement that he would relax the posting guidelines and stop deleting objectionable content.
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