Games Automobile News According to foreign media reports, Tesla CEO Musk is no longer the richest man in the world. According to " Forbes ", at the close of December 12, LVMH Group Chairman and CEO Bernard Arnult replaced Musk as the richest man.
htmlOn December 12, Tesla 's share price closed down 6.27%, and its market value has fallen more than half since this year, partly because Tesla 's share price accelerated after Musk acquired Twitter for US$44 billion.
Musk's wealth is mainly related to Tesla's stock, increasing with the rapid rise of Tesla's stock price. It is reported that Tesla's stock price has soared by more than 1,000% in two years.
Image source: Forbes
U.S. Securities and Exchange Commission (SEC) documents show that Arnault owns more than 60% of the voting shares of LVMH Group through holding companies and family trust fund . According to Forbes, Arnault's net worth is about $186.2 billion.
According to FactSet data, Musk currently owns 14.11% of Tesla's outstanding shares, and Tesla's market value is about US$530 billion. Musk also owns more than 40% of SpaceX, and his net worth on the books increased by billions based on a valuation of $125 billion in private equity markets in June 2022. According to Forbes, Musk's total net worth is about $181.3 billion.
LVMH Group's share price fell only 1.5% in 2022 amid the stock market sluggish this year. LVMH Group is headquartered in Paris and is listed on the Europa Exchange.
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