Home Motoring Elon Musk is no longer the world’s richest person as Tesla share price drops

Elon Musk is no longer the world’s richest person as Tesla share price drops

by Dennis Mathu
0 comment

Elon Musk was the world’s richest person by a huge margin a few months ago, as of this week he is no longer number one as Tesla’s stock has dropped more than 3% today and more than 50% year to date.

Musk is Tesla’s largest individual shareholder, holding approximately 14% of the company. Tesla’s stock price has dropped more than 50% in the last year, and it is currently trading at $160.44 per share. Tesla’s stock price has fallen nearly 29% since Musk purchased Twitter, and many investors are concerned that the social media site has become a distraction that has diverted Musk’s attention away from Tesla. According to reports, Elon Musk is stepping down as Tesla’s CEO and handing over the reins to Tesla’s Chinese President; only time will tell if this move will turn things around.

Musk currently ranks second on Forbes’ real-time billionaires list, with a net worth of $176.6 billion. According to Forbes, Musk’s fortune has dropped by roughly $4.7 billion since 5 p.m. Monday.

Bernard Arnault, the CEO of the French luxury conglomerate LVMH, has taken Musk’s place. According to Forbes, Arnault and his family’s fortune is now worth $188.6 billion, more than anyone else in the world. This isn’t the first time Arnault has surpassed Musk; he briefly held the top spot last week before the Tesla CEO reclaimed it. This week, the number one slot has slipped away from him again. 

You may also like

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More
%d bloggers like this: