Loss of top spot to LVMH chief executive comes after Tesla shares more than halve in value
worth $43.4bn. Since then, the Tesla share price has tumbled by more than 50%, and it is currently trading at about $160.
Fresh falls in the car company’s share price at the start of the week wiped about $7bn off Musk’s fortune, according to Forbes. It calculates that he is now worth about $177bn, compared with Arnault’s net worth of $188bn. Arnault had briefly overtaken Musk a week ago as a result of share movements, before the Tesla chief retook the top spot. Musk hasTesla’s market value has come under pressure partly as a result ofInvestors have expressed worry that Musk may be distracted by his other ventures, including the rocket company SpaceX and running
. He also regularly attracts criticism for some of the controversial tweets he writes to his 121 million followers.Get set for the working day – we'll point you to the all the business news and analysis you need every morningNewsletters may contain info about charities, online ads, and content funded by outside parties. For more information see our
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