The new richest person in the world overtakes Elon Musk
Elon Musk spent $44 billion to acquire Twitter, a social media network, and has made significant investments there. Under his leadership, the world's largest microblogging platform had a thorough makeover and added additional functions, such as the premium Twitter Blue subscription programme.
The richest person in the world is no longer Elon Musk. The head of Louis Vuitton, Bernard Arnault, has deposed the owner of Twitter as the richest person in the world. The Tesla CEO is now ranked second on the Forbes and Bloomberg lists after holding the top spot since September 2021. In comparison to Arnault's wealth of $171 billion (14.12 lakh crore), Musk's overall net worth is $164 billion (13.55 lakh crore), according to the Bloomberg Billionaires List. Gautam Adani, the third-richest businessman in India, has a net worth of $125 billion (10.32 lakh crore). The decline in Tesla's stock on Tuesday is thought to be related to Musk's promotion to second place.
Musk has made significant investments in social media network Twitter, which he purchased for $44 billion, but the EV manufacturer's shares fell 6.5% to $156.91 in New York, bringing its market cap below $500 billion. Under his leadership, the world's largest microblogging platform had a thorough makeover and added additional functions, such as the premium Twitter Blue subscription programme. According to an analysis by Insider Intelligence that Reuters was able to see, Musk's modifications and Twitter's stagnant revenue growth over the next two years will cause a user exodus. The social media platform will lose more members in the US than in any other nation, according to the analysis, which also projects a drop in monthly users to 50.5 million in 2024, the lowest number since 2014.
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