Elon Musk, the owner of Tesla, has fallen behind Bernard Arnault on Forbes’ list of the world’s richest people. Arnault’s family controls LVMH, the largest luxury corporation in the world.

On Forbes’ list of the world’s billionaires as of today:

Musk remains the world’s wealthiest person by $1 billion, according to the Bloomberg Billionaires list.

Bernard Arnault

Bernard Arnault, a French business entrepreneur, investor, and art collector, is 73 years old.

In collaboration with Swiss luxury having a large Richemont and French corporation Kering, Arnault guided the business through an ambitious expansion strategy that made it one of the greatest luxury companies in the world.

The Italian jewelry company Bulgari was controlled by the Arnault family, and on March 7, 2011, Arnault declared his desire to acquire 50.4% of the shares held by the family and launch a public offer for the remaining publicly held shares. The total value of the deal was $5.2 billion.

Elon Musk

Insider Intelligence predicts that over 30 million Twitter users will depart in the next two years.

Because the electric vehicle manufacturer is feeling the effects of COVID-19 regulations and a failing economy in China, its stock has decreased by 56 percent over the last year, reaching its lowest position since November 2020. This is the lowest point it has reached since November 2020.

Additionally, Elon Musk has been busy with Twitter, a social media network that he purchased for $44 billion only one month ago.

SOURCE – BBC, WIKIPEDIA, FORBES