The owner of the social network Twitter and CEO of the automaker Tesla Elon Musk briefly lost the title of the richest person in the world, reports “Reuters”, referring to “Forbes”.
It comes after the billionaire bought the social network by selling shares in its electric car company to finance the $44 billion deal.
Musk was dethroned by Louis Vuitton Moët Hennessy CEO Bernard Arnault. who briefly captured the title on Wednesday before slipping back into second place with a personal fortune of $185.3 billion.
Musk, who has a net worth of $185.7 billionholds the top spot on the Forbes list as of September 2021, after surpassed Amazon founder Jeff Bezos.
Tesla shares, which have lost more than 47% of their value, since Musk made his offer to buy Twitter earlier this year, they’re down 2.7%.
Musk’s net worth “melted” to less than $200 billion on Nov. 8 as investors dumped Tesla’s stock amid concerns that the company’s top executive and largest shareholder was more concerned about Twitter.
Tesla has lost nearly half of its market value, and Musk’s net worth is down about $70 billion since he began planning to buy Twitter in April. The Billionaire finalize the deal for the social network in October.
Besides Tesla, Musk also heads up SpaceX and Neuralink – a start-up working on options for the collaboration between the human brain and technology.
