Cailianshe Shanghai, December 13 (Editor Huang Junzhi) was affected by the sharp drop in the stock price of Tesla . On Monday (12th), local time, Twitter owner and Tesla Tesla owner Elon Musk (Elon Musk ) lost the title of the world's richest man and was replaced by Bernard Arnault, chairman of luxury goods giant LVMH.
As of Monday's US stock closing, Tesla's stock price fell 6.27% to $167.82. So far this year, the stock has fallen by more than 58%, and its market value has fallen by more than half, partly because after Musk acquired Twitter for $44 billion, investors are worried that he will focus more on Twitter and have no time to manage Tesla, and quickly sell Tesla stock .
In fact, since Musk surpassed Amazon founder Bezos to become the world's richest man in September 2021, he has been at the top of the Forbes rich list.
Tesla stock is its main source of wealth, and the electric car maker's share price soared more than 1,000% in two years. However, it is also because of Tesla's stock price plunging this year that Musk's wealth has evaporated by more than 100 billion US dollars.
On the other hand, U.S. Securities and Exchange Commission (SECh) documents show that Arnault owns more than 60% of LVMH's voting shares through holding companies and family trust funds. LVMH shares fell just 1.5% this year.
As of Monday's closing, Arnault's net worth was $186.2 billion, while Musk's net worth was $181.3 billion, according to Forbes data.
According to FactSet data, Musk currently owns 14.11% of Tesla's outstanding shares, and the company's market value as of Monday's closing price was about $530 billion. In addition, Musk also owns more than 40% of SpaceX.
This article is from Cailianshe
