Elon Musk has stopped being the world’s richest man after the value of Tesla shares dropped. The top spot was taken by Bernard Arnault, the chief executive of luxury goods group LVMH. According to Forbes, Musk is now at $178bn, while Benard Arnault is at $188bn. This change may have partially been caused by Elon Musk’s current takeover of Twitter, and the controversial changes he’s been making to the site. Another factor is the fact that investors believe the demand for electric cars might slow down as the economy weakens. Buyers may be becoming discouraged because of increased borrowing costs and other companies boosting more attractive offers.
Elon Musk: No Longer Earth’s Richest Man
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Paola Martir, Reporter
Hi, my name is Paola Martir. I've been enrolled at Conrad since the 6th grade. I'm currently a senior and my pathway is Biotechnology. In my free time I like to listen to music, hangout with my friends, and play video games. I joined journalism so I can learn more about current events and keep myself informed.