Bernard Arnault is now the richest man in the world List of Codes

Tesla CEO Elon Muskhe is no longer richest man in the worldsince he has lost his position behind the president and CEO of the luxurious LVMH, the French Bernardo Arnault and his family, according to Forbes.

A fall in the price of Tesla shares – which today closed with a fall of 6.27% – has caused Arnault to rise one position in the ranking.

The electric vehicle company’s share value has more than halved this year, partly due to a sell-off that accelerated in the wake of Musk’s $44 billion acquisition of Twitter.

The Arnault family oversees the LVMH empire of some 70 fashion and cosmetics brands, including Louis Vuitton, Sephora and American jeweler Tiffany & Co, and is worth $186.2 billion, according to Forbes.

For his part, Musk has a heritage of 181,300 million, according to the specialized media.

Musk became the richest man in the world in September 2021, when he surpassed Amazon founder Jeff Bezos.

Musk’s wealth, mostly tied to Tesla shares, was boosted by a meteoric rise in the automaker’s stock price, which soared more than 1,000% in two years.

According to FactSet data, Musk currently owns 14.11% of Tesla’s shares, with a market value of $530 billion.

Musk also owns more than 40% of SpaceX shares, adding billions to his net worth.

It’s not the first time this year that Musk has momentarily fallen on this list, having briefly lost his title as the richest person to the Arnaults last week.

Reliable, reliable and easy. Multimedia news agency in Spanish.

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