Elon Musk is not the world`s richest person. The Twitter proprietor has been dethroned because the No.1 at the wealthy listing with the aid of using Louis Vuitton boss Bernard Arnault. According to the lists with the aid of using Forbes and Bloomberg, the Tesla CEO is now located 2d after retaining the numero uno function for the reason that September 2021.

According to the Bloomberg Billionaires List, Musk’s overall internet really well worth stands at $164 billion ( ₹13.fifty five lakh crore) compared to Arnault’s wealth of $171 billion ( ₹14.12 lakh crore). India’s richest magnate Gautam Adani is located 0.33 at $a hundred twenty five billion ( ₹10.32 lakh crore).

Musk’s relegation to the second one spot is being related to the drop in Tesla’s stocks on Tuesday. The EV maker’s stocks dropped with the aid of using 6.five in line with cent to $156.ninety one in New York, placing its marketplace cap to below $500 billion, Bloomberg reported.

Musk has invested closely in social media platform Twitter, for which he paid $forty four billion. Under him, the microblogging massive has gone through a whole overhaul, introducing new capabilities inclusive of a paid Twitter Blue subscription service.

According to a file with the aid of using Insider Intelligence accessed with the aid of using Reuters, Twitter will witness an exodus of customers because of adjustments made with the aid of using Musk and flat sales boom for the following years. The file says that the social media platform will lose greater customers withinside the US than any of the countries, including that month-to-month customers will fall to 50.five million in 2024, the bottom stage for the reason that 2014.

“Users will begin to depart the platform subsequent yr as they develop pissed off with technical problems and the proliferation of hateful or different unsavoury content,” stated Jasmine Enberg, main analyst at Insider Intelligence.