Dogecoin Fan Elon Musk No Longer World’s Richest Person

Dec 08,2022
Dogecoin Fan Elon Musk No Longer World’s Richest Person

Controversial high-tech entrepreneur Elon Musk is no longer the richest man in the worldForbes Magazine.

Musk has already broken through Bernard Arnault, a French fashion tycoon. As of today, the use value of these two assets is US $185.4 billion and US $185.3 billion respectively

India's coal magnate Gautam Amore ranks third with a net asset of US $134.8 billion

Amazon founder Jeffrey Larry Page has a wealth of $115 billion. Warren Buffett, CEO of Hathaway, is one of the toughest critics of digital currency, and ranks in the top five with a net asset of $107 billion

Because of the devastating performance of Tesla's stock, Musk's net assets have been severely hit. So far this year, the stock has dropped 57%. By the time of submission, Tesla's share price had dropped 3.85%. This electronic component automobile enterprise was working hard to solve the problem of slowing down its requirements

Arnault is the CEO of lvSE, the world's largest luxury goods company. LVMH holds such famous brands as Christian Dior, Sephora, Louis Vuitton, Tiffany&Co, Marc Jacobs, Stella McCartney, Loewe and Kenzo. In addition, this luxury group company also owns the Haoya watch enterprise

The third quarter profit of LVMH released in November was stronger than expected, which improved the wealth of this French tycoon

Unlike Tesla Electric Vehicles, luxury brands are required to be strong again, and lv and Dior will achieve organic growth in 2022.

Arnault will become the richest man in the world in May 2021. At that time, Larry Page and Musk ranked second and third respectively.

This rich French businessman reached the age of 73 in March this year and has been in charge of his luxury brand kingdom for decades. The old LVMH boss will have to decide which of his five children will succeed to the throne.