In the super-rich ranking: Musk slips to third place

In the super-rich ranking
Musk slips into third place

Tesla boss Musk’s fortunes rise and fall due to his large stake in the electrical engineering company. The ongoing price losses therefore also have consequences for the fortune of the 49-year-old. The entrepreneur is now falling behind in a super-rich ranking.

Elon Musk is dropping crypto currencies like Bitcoin with his tweets, but his own fortune has also shrunk significantly recently. In the “Bloomberg Billionaires” super-rich ranking, the 49-year-old star entrepreneur slipped to third place. The reason is the continuing price losses of the Tesla share. At the beginning of the week it fell by a further two percent and has now lost almost 30 percent in the past three months.

Tesla Motors (USD) 576.83

According to Bloomberg estimates, Musk’s personal wealth – which rises and falls with Tesla stock because of its large stake in the electric car maker – has fallen 24 percent since January to $ 160.6 billion. Bernard Arnault of the luxury goods company LVMH is now in second place on the billionaire list with $ 161.2 billion. At the top, with $ 190 billion, is Amazon boss Jeff Bezos. He had only recaptured first place from Musk in March. In the billionaire rankings of the “Bloomberg Billionaires” rival “Forbes” Musk is also in third place. However, his fortune here is estimated a little less at $ 146.5 billion.

Billionaire charts are mostly based on publicly available information about assets such as stocks, real estate, art objects and other luxury goods. They are therefore not exact and in some cases also controversial.

Musk recently caused a stir in the financial market with criticism of the oldest and most famous digital currency, Bitcoin. Tesla no longer wants to accept them as a means of payment due to their high power consumption. What is responsible is what is known as mining – the production of currency units using energy-intensive computer processes. The announcement and other critical tweets put the crypto market under great pressure. However, Musk continues to flirt with the crypto meme Dogecoin, which was once started as a bitcoin parody. But here too there were price losses on Monday.

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