Elon Musk no longer the world's richest man after takeover of Twitter
5 April 2023, 09:26 | Updated: 5 April 2023, 09:33
Elon Musk is no longer the richest man in the world after his $44bn acquisition of Twitter in October.
Mr Musk took second spot in Forbes’s annual “World’s Billionaire List”, with Bernand Arnault taking the throne.
Mr Musk’s net worth fell to $180bn, $31bn less Mr Arnault’s $211bn. The latter has seen his net worth increase by $53bn in the past year.
According to the list, Mr Musk has seen $39bn of his net worth was knocked off in a year following the purchase of Twitter, which was largely funded by selling shares in Tesla.
The drop in his net worth comes after Twitter's worst ever year on Wall Street, with the company losing £700bn in investor money.
“Musk has mostly tweeted himself out of the top spot on the rank,” Forbes said.
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Coming in at number three on Forbes' “World’s Billionaire List” was Jeff Bezos, CEO of Amazon, who lost $57bn of his net worth.
As with Mr Musk's Twitter, Mr Bezos saw his company underperform last year with its share price falling by around 40 per cent.
The declining wealth of Mr Musk and Mr Bezos fits with the overall trend on Forbes' list.
Forbes said the number of billionaires across the world dropped by 28 in 2022, falling to 2,640 from 2,668 last year.
"Altogether, the planet’s billionaires are now worth $12.2tn, a drop of $500bn from $12.7tn in March 2022," it added.
Full list
Bernard Arnault & family - Net worth: $211 Billion
Elon Musk - Net worth: $180 Billion
Jeff Bezos - Net worth: $114 Billion
Larry Ellison - Net worth: $107 Billion
Warren Buffett - Net worth: $106 Billion
Bill Gates - Net worth: $104 Billion
Michael Bloomberg - Net worth: $94.5 Billion
Carlos Slim Helú & family - Net worth: $93 Billion
Mukesh Ambani - Net worth: $83.4 Billion
Steve Ballmer - Net worth: $80.7 Billion
Françoise Bettencourt Meyers & family - Net worth: $80.5 Billion
Larry Page - Net worth: $79.2 Billion
Amancio Ortega - Net worth: $77.3 Billion
Sergey Brin - Net worth: $76 Billion
Zhong Shanshan - Net worth: $68 Billion
Mark Zuckerberg - Net worth: $64.4 Billion
Charles Koch - Net worth: $59 Billion
Julia Koch & family - Net worth: $59 Billion
Jim Walton - Net worth: $58.8 Billion
Rob Walton - Net worth: $57.6 Billion
Alice Walton - Net worth: $56.7 Billion
David Thomson & family - Net worth: $54.4 Billion
Michael Dell - Net worth: $50.1 Billion
Gautam Adani - Net worth: $47.2 Billion
Phil Knight & family - Net worth: $45.1 Billion
