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Musk loses crown as world’s richest person to French CEO

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2 years ago

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Elon Musk is many things, but as of now, he is no longer the world’s richest person

Bernard Arnault, chairman and CEO of luxury goods maker LVMH has taken the crown

reuters

It is the first time the Tesla and SpaceX owner has slipped from the top of the rankings since he overtook Amazon founder Jeff Bezos last year.

According to Forbes, The Luxury Goods Maker responsible for Moet, Hennessy and Louis Vuitton is around 10 more billion dollars richer than Musk.

Arnault’s net worth now stands at $190.1 billion, while Musk is worth $181.3 billion, according to Forbes.

Arnault, 73, owns 48% of LVMH.

Musk’s wealth is largely tied to the price of Tesla stock, which has lost more than half its value since January.

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ASX positioned for strong start after positive stock rebound

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1 day ago

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September 10, 2024

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The ASX is set for a solid opening today, bolstered by overnight gains in the banking, commodities, and energy sectors.

Despite these positive movements, analysts are suggesting that the stock rebound and bond decline appear to be technically driven, noting that it may not mark the beginning of a longer-term trend.

Market analyst David Scutt from StoneX joins to discuss the latest market movements. #featured #trending

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Elon Musk is projected to become the world’s first trillionaire

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2 days ago

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September 9, 2024

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Elon Musk, the visionary entrepreneur behind Tesla and SpaceX, is projected to achieve an unprecedented financial milestone by becoming the world’s first trillionaire by 2027.

Currently the richest person alive, Musk holds a staggering net worth of $251 billion, with Tesla playing a major role in his fortune.

At this rate, experts predict his wealth could skyrocket, reaching the trillion-dollar milestone in just three years.

Tesla itself is growing at a remarkable pace, with a market value nearing $670 billion. #featured #trending

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Treasury Secretary believes the U.S. are on track for a “safe landing”

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2 days ago

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September 9, 2024

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Treasury Secretary Janet Yellen pointed to a “soft landing” for the economy, with unemployment slightly down despite slower job creation.

In a recent interview on Bloomberg, Yellen stated that “For the US, the kinds of metrics that we would monitor that would summarise risks — whether it’s asset valuations or a good degree of leverage — things look good, I don’t see red lights flashing”. #featured #trending

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