Tesla CEO Elon Musk has been a global phenomenon for the past few years, and his strong opinions, bold decisions, and immense wealth have made him a household name. However, in recent news, he has lost his title as the world’s wealthiest person to Bernard Arnault, the chief executive of LVMH. This shift in the Forbes real-time wealth tracking list is mainly due to the recent $44 billion Twitter purchase and the continuous fall of Tesla shares.
The fall of Tesla shares has been a major contributor to Musk’s fall from the top spot. The company’s shares have dropped by $200 billion in the last two years, and the current rise in COVID-19 cases has further hampered the delivery of components sourced from China. On top of that, Musk’s focus on Twitter has also been a major factor in his net worth’s decline. Since he took over the company, it has seen mass layoffs of 60 percent of its employees across the globe.
The news of Musk dropping from the top spot has been met with mixed reactions. While some have praised him for his entrepreneurial spirit and ambition, others have criticized him for his reckless decisions and lack of focus on Tesla. Whatever the case may be, it is undeniable that Musk’s contribution to the tech industry has been immense, and the impact of his work will continue to be felt for years to come.
In conclusion, Elon Musk may no longer be the world’s wealthiest person, but he remains one of the most influential figures in the world today. His decisions and actions have had a huge impact on the tech industry, and his story serves as an inspiration to entrepreneurs and business leaders alike. It will be interesting to see how the billionaire fares in the months to come.