Elon Musk Loses Richest Man Title Again as Bill Gates Threatens Jeff Bezos, Dangote Slides
- Elon Musk lost about N460 trillion in 24 hours to be dethroned as the world’s richest man
- The Tesla CEO crashed back to the second position after the electric car company’s shares flopped
- Aliko Dangote also saw his fortune dwindle by N8.2 billion in 24 hours
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Tesla CEO Elon Musk has lost the richest man title again, 24 hours after he took it back from French billionaire and luxury merchant Benard Arnault.
According to Bloomberg Billionaire Index, Musk lost N460 trillion in 24 hours, forcing him back to the Number 2 spot on the world’s richest man ladder.
Source: Getty Images
Bill Gates on a steady climb
The drop follows the abysmal performance of Tesla stocks, which is indicative of global tech stock performance on Wednesday, March 1, 2023.
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The electric car maker lost about $202.77 billion, representing 1.43% of its value.
Musk has been on a rampage to reclaim his lost title in the past two weeks after making history as the first man to lose $200 billion.
Benard Arnault overtook Musk after making $1.99 billion on Wednesday, March 1, 2023.
The biggest shock remains that Microsoft founder Bill Gates, who said he wanted to drop out of the wealthiest man list by giving his fortune to charity, has continued to climb the wealth ladder.
Bill Gates is positioned to beat Amazon CEO Jeff Bezos, who is third on the list with $2 billion separating the duo.
Dangote loses N8.2 billion
Similarly, Africa’s richest man, Aliko Dangote, slid by one spot to rank 84th globally with $19.4 billion.
Dangote lost about N8.2 billion in the last 24 hours due to a slide in the stocks of his cement firm, Dangote Cement.
Other billionaires such as Warren Buffet and Larry Elisson witnessed a stock wipeout on Wednesday.
Elon Musk takes back title as world's richest man after making N3.21trn in 8 hours
Legit.ng reported that after losing the title for 82 days, Elon Musk had reclaimed his position as the world's richest man.
He lost the title to French billionaire Bernard Arnault on December 8, 2022, following controversies surrounding his Twitter ownership, which led to a sell-off of Tesla shares and a decline in wealth.
Despite several attempts to regain the top spot, Musk fell short as Arnault's wealth grew.
Source: Legit.ng
