For the second time in less than a week, the fashion king and founder of Louis Vuitton, the richest man in Europe, succeeds in toppling the American billionaire, Elon Musk, from the throne of the world's billionaires.
The last few hours have witnessed dramatic changes after Elon Musk stepped down from the throne of the world's billionaires after the old Frenchman Bernard Arnault ascended to the head of the list.

What happened
With Elon Musk's losses continuing since the beginning of the year, which began shortly before the beginning of 2022, the fortunes of the founder of Tesla (NASDAQ:TSLA), SpaceX and the new CEO of Twitter have been shaken.

The last few hours have resulted in Elon Musk losing almost 8 billion dollars at once, which is not the first time Musk has incurred such losses.

However, the gap between Musk and the owner of the second place has recently disappeared and turned into the owner of the founder of the famous French brands Bernard Arnault.

Tesla's decline
Tesla electric car maker shares fell by more than 6% at the end of Monday's session, as investors remained concerned about the company's business prospects, Tesla shares fell 6.3% to 167.82 dollars in late trading, with a market value of 525.8 billion dollars.

The stock has lost about 58% of its value since the beginning of this year, amid a series of challenges that include low demand in China and investor concern about Musk's focus on managing Twitter at the expense of Tesla's business.

Musk's wealth
Elon Musk's fortune has fallen since November 2021 and until the transactions, yesterday, Monday, almost 160 billion dollars down from 340 billion dollars to the levels of 181 billion dollars.

Since the beginning of the year, the founder of Tesla has suffered losses exceeding 103 billion dollars, that is, his fortune has fallen from the levels of 280 billion dollars to the current levels, with a decline approaching 40%.

Bernard Arnault
In contrast to the dramatic losses of Elon Musk, Bernard Arnault lost only 11 billion dollars from the beginning of the year, while the losses of the richest man in France, Europe and the world now exceeded only 440 million dollars during transactions on Monday.

According to the global Forbes index, the fortune of the founder of Louis Vuitton is about 186.2 billion dollars, an increase of about 5 billion dollars over the second-place holder Elon Musk, whose fortune is 181.3 billion dollars.

The ranking of wealthy people is now according to Forbes Global..
Bernard Arnault 186.2 billion dollars

Elon Musk 181.3 billion dollars

Gautam Adani 134.8 billion dollars

Jeff Bezos 113.8 billion dollars

Warren Buffett 108.1 billion dollars

Bill Gates 106.4 billion dollars

Larry Ellison 103.9 billion dollars

Mukash Ambani 92.9 billion dollars

Carlos Slim 81.8 billion dollars

Steve Ballmer 81.7 billion dollars
calendar_month14/12/2022 12:22 am