Today, Elon Musk, the CEO of Twitter and Tesla, briefly lost his title as the world’s richest person, according to the Forbes list, which tracks the wealth of the world’s billionaires in real-time. Mr Musk’s net worth plummeted as a result of the decline in Tesla stock and a $44 billion bet on Twitter.
Mr Musk, 51, was dethroned as the world’s richest person by Bernard Arnault, CEO of the parent company of luxury brand Louis Vuitton, LVMH. Mr. Arnault topped the Forbes list with a net worth of $185.3 billion. Musk, who has reclaimed the top spot, has a personal fortune of $185.7 billion. Elon Musk has been the world’s wealthiest person since September 2021, when he surpassed Amazon founder Jeff Bezos on the list.
Mr Musk’s net worth has already dropped by more than $200 billion by 2022, as Tesla shares fell to their lowest level in two years. The majority of his fortune is in the electric-car maker, which is dealing with escalating Covid-related restrictions in China.
In addition, Mr. Musk has been consumed with Twitter, the social media platform he paid $44 billion for just last month. Since Musk took charge, the company has lost nearly 60% of its workers. Investors have questioned whether the billionaire is splitting his attention too thinly between all of his high-profile projects.
Along with Tesla and Twitter, Mr. Musk also runs SpaceX, a rocket firm, and Neuralink, a startup that is working to connect the human brain to computers using ultra-high bandwidth brain-machine interfaces. Tesla is one of six US companies with a market cap of $1 trillion or more, surpassing the combined value of its nine biggest rivals.
After paying an astounding $43 billion to acquire Twitter, Elon Musk is in the news. The Tesla CEO has previously purchased stock in a powerful corporation. In fact, Musk owns a number of businesses that are setting the standard in their own specialised fields. This blog compiles a list of Musk-owned businesses that have changed the landscape of their respective industries and contributed significantly to making it better.
Dear Twitter Advertisers pic.twitter.com/GMwHmInPAS
— Elon Musk (@elonmusk) October 27, 2022
Elon Musk, a well-known American businessman, is a well-known investor and tycoon. He began displaying a knack and love for business from a young age, as well as an early interest in starting his own firm.He left South Africa not long after becoming aware of the business potential in the United States and earned a bachelor’s degree in economics and physics from the University of Pennsylvania. He quickly realised that the internet is far more powerful than physics and that efforts in this field should be maximised after enrolling in the graduate school.
Zip2 was Elon Musk’s first startup, and it offered online newspapers maps and business guides. And his list of expanding businesses doesn’t stop after that. Elon Musk is the best of both worlds in every business, whether it be technology or another one. In addition to becoming the richest man in the world, he also wants to address a variety of problems that arise in the IT sector. Elon Musk may be well-known for his electric car company Tesla or his ground-breaking space venture SpaceX, but he has accomplished much more.
