Elon Musk, once worth as much as $340-billion, has been displaced as the world’s richest person by Bernard Arnault.
worth as much as US$340-billion , has been displaced as the world’s richest person by Bernard Arnault.
Musk’s fall from atop the rankings — the first time that’s happened since he was number 2 in September 2021 — caps a tumultuous year for the frenetic billionaire. He shocked the world in April with his offer to take Twitter private for $44-billion, in a brazen display of how the wealthiest individuals could wield their massive fortunes.
Once he finalised the Twitter acquisition in October, the Bloomberg wealth index knocked $10-billion from his fortune, reflecting that shares of similar businesses have slumped since he made his bid.Musk has pledged to turn around the social media platform, but he faces several challenges — some of his own making. He blasted Apple and threatened to withhold Twitter from its App Store at a time when other companies were already pulling their advertising from the site.
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