Elon Musk no longer world's richest person
Elon Musk is no longer the richest person in the world after being usurped by LVMH chairman and CEO Bernard Arnault. According to Forbes' real-time billionaires list, the Twitter and Tesla CEO net worth decreased by $4.5 billion. Arnault oversees some 70 fashion and cosmetic brands, and has a net worth of $187.3 billion. Musk's $176.8 billion real-time net worth is based largely on his 25% ownership of Tesla. However, Tesla stocks have more than halved in value this year, partially due to a massive sell-off following Musk's Twitter acquisition. Forbes said that the businessman's wealth peaked in November 2021 when he was worth $320 billion. Musk had been the world's richest man since September 2021, taking over from Amazon CEO Jeff Bezos.
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The highest-paid executive on the list had a 2021 salary of $296.2 million.
While some of these billionaires came from money, others have started their own drugstores, money management firms, or real estate companies.
Of more than 700 American billionaires, the median age is 68. But there are young billionaires, too, with some having net worths ranging from $2.5 billion to $17.2 billion.
