Elon Musk’s cream has once again risen to the very top Thursday after his competition for the world’s richest person, LVMH CEO Bernard Arnault, had his value slip to a paltry $187 billion.
Musk and Arnault, who heads up a corporation dedicated to luxury brands like Louis Vuitton and Dior, are often battling it out for the top spot on Bloomberg’s Billionaires Index.
Arnault spent several months in the top space as luxury goods flew off the shelves, but the stock has done quite as well as Teslas in recent months. Even though it was reported today that Musk’s most recent acquisition, Twitter, lost two-thirds of its value following the sale, Musk is back on top.
The golden horde Musk sits on top of rose by $55.3 billion over this time last year, while Arnault’s only rose by $24.5 billion. In third is our yacht-owning friend Jeff Bezos at $144 billion followed by Bill Gates at $125 billion and CEO of Oracle Larry Ellison with $118 billion.
In late 2021, Elon Musk experienced a significant decline in his ranking on the list of the world’s richest individuals. This drop was primarily attributed to the decline in Tesla’s stock value, which had a substantial impact on Musk’s overall net worth. As a considerable portion of his wealth is tied to Tesla stock, the company’s stock slump resulted in a decrease in Musk’s fortunes.
Tesla faced challenges during that period, including soft sales and negative publicity following the Twitter sale. These factors led to a decline in investor confidence, causing the stock to plummet by 56 percent in December 2021.
This decline in value brought Tesla’s stock price down to an unusually low level of $108, which was considered atypical for the company.
It’s worth noting that the information provided about Tesla stock trading at $206 might be outdated, as my knowledge is based on information available until September 2021. Therefore, for the most accurate and up-to-date information, it’s advisable to refer to reliable financial sources.
Furthermore, the statement mentions Musk’s salary of $56 billion from Tesla last year. However, it’s essential to clarify that this figure seems incorrect or misleading.
Musk’s compensation from Tesla has been notable but not in the billion’s range. To get the most accurate information about Musk’s salary or compensation from Tesla, it’s recommended to consult official reports or financial statements from the company.
It is crucial to verify the specific details mentioned here using current and reliable sources, as the provided information may contain inaccuracies or be based on outdated data.
Elon Musk, the billionaire entrepreneur and CEO of companies like SpaceX and Tesla, has undeniably accumulated immense wealth over the years.
However, the statement sarcastically suggests that Musk remains humble and grounded despite his financial success. It highlights some instances where Musk’s actions may seem contradictory to the notion of humility.
The reference to $100,000 being affordable for everyone looking to take a ride to Mars reflects the exorbitant cost associated with space travel. While Musk has expressed his vision of making humanity multi-planetary and enabling the colonization of Mars, the price tag attached to such endeavors makes it unattainable for the majority. This implies that his ambitions, though admirable, may not be entirely inclusive.
The mention of charging customers $15,000 for aspirational software alludes to the pricing strategy of Tesla’s Full Self-Driving (FSD) software.
FSD is an advanced driver-assistance feature, and while the price tag might be seen as high for some, it is a significant investment in the development of autonomous driving technology. It can be argued that the high cost is aimed at funding further research and development.
The statement’s final remark about spending $44 billion on a social media site “just for the lolz” refers to Musk’s involvement with the acquisition of the social media platform Twitter. This remark suggests that such a substantial investment in a platform primarily known for its casual and humorous content seems excessive and potentially frivolous.
In summary, the statement implies a degree of irony, suggesting that despite Elon Musk’s vast wealth, some of his decisions and actions may not align with conventional ideas of modesty and prudence.
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Information source:- jalopnik