ELON'S WEALTH UNDER THREAT

How recently Musk's position in the top asset spot has been under threat from the French executive and the CEO of luxury conglomerate LVMH, Bernard Arnault.

Since Musk announced his attempt to acquire Twitter on April 25, Tesla stock has dropped over 50% to $167.87, resulting in a $525 billion decline in market capitalization. Tesla stock has decreased 25% after the billionaire sealed the Twitter acquisition on October 27.

The price of Tesla shares is down 52.4% overall for the year. Since Musk took on $13 billion in personal debt to fund the acquisition, his early moves at Twitter produced confusion, which made it even harder for him to turn the platform profitable as soon as possible.

If Elon Musk is still the richest man in the world, his money has been declining. This year, his net worth dropped by $101 billion, or 37%.

What do you think?

Will Elon be able to retain his position as the number one richest man in the world or will he be taken over by the CEO of the LVMH luxury conglomerate, Bernard Arnault, the French business magnate? With an estimated $157 billion in wealth, Arnault is only $13 billion behind Musk.

Let us know your thoughts in the comments below.

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