According to analysts, Musk lost $7.4 billion on Monday and a further $4.9 billion Tuesday to drop down on the list of the world’s richest people. Musk’s wealth peaked in November 2021, when he was worth $320 billion. He’s lost about $100 billion in the past year, according to Forbes.
Source: Yahoo Finance
Elon Musk is no longer the wealthiest person in the world, thanks to the plummeting price of Tesla shares, which dragged the serial entrepreneur into second place.
Musk, CEO of Tesla and Twitter, saw his net worth overtaken by that of French billionaire Bernard Arnault on Monday, according to data from Forbes.
Arnault is the chairman and CEO of luxury goods maker LVMH and has a net worth of $187.1 billion, Forbes’s Real-Time Billionaires List showed on Tuesday morning.
Musk, meanwhile, lost $7.4 billion on Monday—around 4% of his total net worth, according to the ranking, which Forbes says puts his fortune at $181.3 billion.
Musk’s wealth is largely tied to Tesla shares, which shed around 6.3% of their value by the closing bell on Monday. At the beginning of the year, Forbes valued Musk’s net worth at $304.2 billion—meaning his fortune has plummeted by an amount that exceeds the wealth of Amazon founder Jeff Bezos, who sits in fourth place on Forbes’s ranking.
