It’s been on the agenda lately with the acquisition of Twitter and what it’s been up to on the platform. Elon MuskRecently, he lost his place on the Forbes billionaires list and dropped to the position of the second richest person. However, the well-known entrepreneur was able to return to the top in a short time. The 51-year-old businessman is currently the richest person in the world, several billion dollars ahead of Bernard Arnault.

So, can Musk lose this title for a long time? As it is known, the famous billionaire reached a fortune of $ 300 billion last year, making a difference to his competitors. However, what happened this year caused a serious decline in Musk’s wealth. The developments after the acquisition of Twitter also showed that the entrepreneur can lose the title of the richest person.

Tesla shares have fallen by half since April

Electric car giant Tesla is the biggest source of Elon Musk’s wealth. But shares of the giant company have fallen by almost half since its CEO made a bid to buy Twitter in April. This led to a loss of $70 billion in Musk’s net worth.

Shares of the auto giant on April 13 340.79 It was traded in dollars. Since then, this number has dropped by 49% due to various issues such as supply chain problems and high raw material costs. 173.44 to $. Also, the Tesla boss has been working from April to today to fund the acquisition of Twitter. Sold $20 billion worth of Tesla stock. According to Reuters, Musk currently owns 445 million Tesla shares. This shows that the share drop caused the value of Musk’s holdings to fall from 151 billion to 77 billion.

Investors were concerned about the time Musk spent on Twitter

Tesla investors are also concerned about Musk’s Twitter movement. Worried It should be added that it has been reported. Investors are therefore skeptical about how the well-known entrepreneur divides his time between the social media platform and startups such as SpaceX and Tesla. According to the information received, shareholders are considering Musk’s decision to control Twitter. you spend a lot of time and he finds it too distracting. It should be added that since the platform lost $221 million last year, Musk was already going through a rough time before taking the lead.

We’ll see in the future if events make Musk lose his title of richest person in the world. Let us remind you that Bernard Arnault, CEO of LVMH, the umbrella company of fashion giant Louis Vuitton, and his family come second. According to Forbes, Musk’s current fortune is $190.5 billion, while Arnault and his family have a fortune of $187.3 billion.