London Daily

Focus on the big picture.
Wednesday, Jan 15, 2025

Elon Musk Briefly Became The 2nd Richest Person In The World. No. 1 Was...

Elon Musk Briefly Became The 2nd Richest Person In The World. No. 1 Was...

The steep drop in Elon Musk's net worth was due to Tesla shares going down and a $44 billion bet on Twitter.
Elon Musk, Twitter and Tesla CEO, briefly lost his title as the world's richest person today, according to the Forbes list that tracks the wealth of the world's billionaires in real-time. The steep drop in Mr Musk's net worth was due to Tesla shares going down and a $44 billion bet on Twitter.

Mr Musk, 51, was replaced as the world's richest person by Bernard Arnault, the chief executive of luxury brand Louis Vuitton's parent company LVMH.

Mr Arnault took the top spot in the Forbes list with a net worth of $185.3 billion. Musk, who has regained his No. 1 spot, has a personal wealth of $185.7 billion.

Elon Musk has held the title of the world's richest person since September 2021, when he dislodged Amazon founder Jeff Bezos on the rich list.

In 2022, Mr Musk's net worth has already gone down by over $200 billion as shares of Tesla dropped to their lowest level in two years.

The electric-car maker comprises the bulk of his fortune and is struggling with burgeoning 1Covid1-related restrictions in China, its largest market outside of the US.

Mr Musk has also been preoccupied with Twitter, the social media network he acquired last month for $44 billion. The company has lost about 60% of its workforce since Musk took over. Investors have been questioning whether the billionaire is spreading himself too thin among his various high-profile ventures.

Besides Tesla and Twitter, Mr Musk also heads rocket company SpaceX and Neuralink, a startup that is developing ultra-high bandwidth brain-machine interfaces to connect the human brain to computers.
Newsletter

Related Articles

0:00
0:00
Close
S.E.C. Sues Elon Musk Over Alleged Twitter-Related Securities Violations
France Urges EU to Act on Musk's Political Influence as Tensions Rise
Former Special Forces Blast Defense Ministry for Revealing Sensitive Details
Celebrity Responses to California Wildfires: Charity, Criticism, and Controversy
The Wildfires of Los Angeles: A Devastating Impact on Celebrities and California's Leadership
Tragic Loss: Teenager's Death Sparks Community Reflection in Bedford and London
UK Government Proposes Cap on Resale Ticket Prices to Combat Touts
Greenland's Future Caught in Diplomatic Crossfire Between Trump and Europe
EU Prepared to Lead Support for Ukraine Amid US Uncertainty, Says Estonian Prime Minister
Brompton E-Bike Component Diverted to UK Military Drone Production, Causes Delays
Romanian Gang Convicted of Human Trafficking and Exploitation in Dundee
Persistent Cold Snap Grips the UK: Severe Frost and Snow Disrupt Daily Life
Germany Faces Alarming Rise in Homelessness, New Report Shows
China’s Appetite for Salmon: A Game Changer in Global Seafood Markets
Russian Bots Allegedly Amplified NATO Critic Prior to Croatian Election, Researchers Reveal
Armenia Considers EU Membership Referendum Amid Strained Ties with Russia
French Finance Minister Explores Pension Reform Compromise to Secure Budget Agreement
Armenia Considers EU Referendum Amid Growing Rift with Russia
New Wildfire Ignites in Los Angeles as Region Battles Devastating Blazes
The Espionage Unraveled: A Russian Spy Network's Intricacies in the UK
U.S. Supreme Court Rejects Trump's Bid to Delay Sentencing in Hush Money Case
UK Financial Markets Remain Calm Amid Rising Government Borrowing Costs
Stellantis Achieves UK Electric Vehicle Sales Mandate Amid Factory Closure
TikTok Faces Potential Ban in the United States Amid Security Concerns
Pound Plummets to 14-Month Low Amid Concerns Over UK Borrowing Costs
Tensions Rise Over Planned Pro-Palestinian March in London
Bomb Scare in Central London: Abandoned Car Sparks Panic Near Regent Street
Police Seek Suspect in Antisemitic Incident at Liverpool Street Station
Regulatory Reprimand for London Charity Over Fundraising for Israeli Soldier
The Duchess of Sussex Mourns Devastating Loss of Beloved Rescue Dog
From Chairman to Controversial Politician: Rupert Lowe's Journeys in Business and Politics
Metropolitan Police Halts Pro-Palestine March Near BBC Due to Proximity to Synagogue
Inside Warwick Hospital: A Glimpse into the NHS's Battle Against Winter Pressures
Chappell Roan: A Synth-Pop Sensation Emerges as BBC Sound Of 2025 Winner
Search Intensifies for Missing Aberdeen Sisters Eliza and Henrietta Huszti
Pioneering Drug Consumption Room Opens in Glasgow
Ryanair Initiates Legal Action Against Disruptive Passenger in Landmark Case
Former Brexit Negotiator Oliver Robbins Appointed Top Civil Servant at UK Foreign Office
British Hiker Found Deceased Amidst Dolomites Search: Investigation Underway
Pound Falls as UK Borrowing Costs Reach Financial Crisis Levels
Italian Journalist Cecilia Sala Released from Iranian Detention
OpenAI CEO Sam Altman Faces Allegations of Childhood Sexual Abuse by Sister
OpenAI CEO Sam Altman Denies Sister's Allegations of Sexual Abuse
UK Markets Under Pressure as Gilt Yields Surge
Arrest Made in Connection to Stabbing of Iranian Journalist in London
Arrest Made in Fatal Drive-By Shooting Outside London Church
Parliamentary Suspension Over Racist Remarks Highlights Tensions in UK Politics
Debate Intensifies Over Call for Child Abuse Inquiry Amidst Musk's Comments
Mark Zuckerberg's U-Turn: Moving Toward Free Speech on Facebook and Instagram, For a Change
Britain's authorities' support for pedophiles has gone insane
×