French Businessman, Bernard Arnault reportedly overturns Tesla’s founder, Elon Musk to become the world’s richest man, according to Forbes.
This follows the recent crash of Tesla stocks and Twitter’s takeover by the South African-born American entrepreneur.
According to Forbes Real Time ranking of the richest, Arnault’s net worth is $180.8 billion while Elon Musk’s net worth dropped to $137.5 billion, from about $200 billion.
Bernard Arnault who is the CEO and chair of LVMH (Moët Hennessy Louis Vuitton), graduated from the École Polytechnique in Paris with a degree in engineering.
He has become the world’s richest man followed by Elon Musk, afterwhom comes Gautam Adani of India as the world’s third richest man with an estimated wealth of $123 billion, while Jeff Bezos is fourth with $106.6 billion.
Recall that Tesla has seen 69% of its value vanish amid Elon Musk’s Twitter takeover and related online antics. On Tuesday, the stock plummeted by 11 percent.
However, the latest crash came amid news that the company planned to suspend production at its Shanghai factory in China.
Last week, the company also offered US consumers a $7,500 discount to take delivery of its two highest-volume models before year-end, a sign of falling sales.
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