Elon Musk Net Worth: Elon Musk Loses Second Richest In The World As Tesla Plunges | International trade news

SAN FRANCISCO: Elon MuskTwitter messages continue to be sent Bitcoin prices are plummeting. His own fortune is going in the same direction.
Tesla Inc CEO lost place of second richest person in the world to LVMH chairman on Monday Bernard Arnault shares of the electric vehicle maker fell 2.2%. This was on top of last week’s fall amid a global rout in tech stocks and new signs of trouble in its China business.
Musk, who held first place in the Bloomberg Billionaires Index as recently as March, now has a fortune of $ 160.6 billion, down 24% from its January high.
The drop follows a turbulent period for Musk, which saw Bitcoin drop as low as 15% last week after posting a statement on Twitter that Tesla no longer accepts digital currency as a form of payment. He also helped beat Dogecoin prices after he tweeted that he was working with the developers of the Shiba Inu-themed token to improve the efficiency of transactions.
Musk, 49, became the richest person in the world in January after Tesla shares jumped nearly 750% last year amid an expansion in tech-focused stocks. Despite record first-quarter earnings, shares of the Palo Alto, Calif.-Based company have since fallen by about a fifth amid a global semiconductor shortage and growing competition from traditional automakers.
Musk’s fortune has fallen by about $ 9.1 billion this year, the highest number among US-based billionaires tracked by the Bloomberg Wealth Index.
Meanwhile, Arnault, 72, added the most, his net worth climbing nearly $ 47 billion to $ 161.2 billion as his company’s luxury goods sales increase in China and the rest of the world. other parts of Asia.
Watch Tesla shares drop, Elon Musk loses second richest ranking in the world

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