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Is Elon Musk still the richest person in the world?

Amrutha Pagad
Amrutha PagadNov 09, 2022 | 13:44

Is Elon Musk still the richest person in the world?

Elon Musk is a lot less richer today. Photo: @elonmusk/Twitter

Elon Musk etched his name right on top of the list of richest people in the world in September 2021 when his wealth overtook that of Amazon's Jeff Bezos. The world's top three richest peoples list isn't the same anymore; nor is Musk's enormous wealth. 

  • Jeff Bezos doesn't make the list now; instead, the third spot is taken by Gautam Adani,
  • and none of the top three richest men are in the $200 billion club.

The Tesla boss (and now also infamously Twitter boss) entered the $200 billion club in 2021; and is only the third man to achieve it after Bezos and LVMH's Bernard Arnault.

Screenshot: Forbes Real Time Billionaire's List

But come November 2022, almost a year later, Musk is a lot less rich.

  • But he still is the richest person in the world. 

Why the loss of riches? Thanks to Musk's Twitter deal mess, dubbed the messiest and perhaps the most overpriced M&A ever. 

  • Tesla investors are becoming more and more uncomfortable about Musk's fixation with Twitter, resulting in its stock price downfall. 
  • Soon enough, news broke that Elon Musk had sold nearly $4 billion worth of his Tesla shares, for the third time this year. This is after saying he won't be selling any more Tesla shares after the first sale.
  • Last year at this time, Musk was $120 billion richer than he is now. He's also $74 billion poorer than he was before April 13 when he announced the Twitter deal. 

  • Elon Musk's Twitter purchase has definitely come at a very steep price for the billionaire. Even his estimated 82% stake in Twitter is 40% less than what he had paid for, according to Forbes.
  • But to his credit, Musk was able to get that 9% stake in Twitter silently, which has helped him fund part of the acquisition on Twitter's balance sheet rather than his own. 

  • Regardless, concerns are rising at Tesla, where production in China remains uncertain and the company's recall of 40,000 cars over a possible steering issue isn't building confidence.

Anyway.

After all of these, Elon Musk is still the richest person in the world... what does a few hundred billion mean (to him) anyway, right?

Last updated: November 09, 2022 | 13:44
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