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The ever-changing winds of fortune atop the world’s rating of billionaires are not blowing in Elon Musk’s favor: He’s been overtaken once again by LVMH chairman and CEO Bernard Arnault because the world’s richest man. Although Bloomberg’s Billionaire Index nonetheless has Musk at No. 1, followed by quickly gaining Jeff Bezos, the Forbes Actual-Time Billionaire Record says the transition has already taken place.
Bloomberg and Forbes have lengthy differed on methodology in relation to rating billionaires, disagreeing on the best way to calculate their wealth and the way public to make these judgment calls, however in both case, Musk’s riches have been shrinking for some time now. Tesla inventory, his greatest asset, has been losing value amid challenges from inside and out of doors the corporate.
Plus, Bezos-founded Amazon and Arnault’s LVMH are doing significantly better, partly because of the dominance of cloud computing technology and skincare-savvy tweens, respectively.
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