The wealth of billionaire businessperson Elon Musk, who has created a downward movement in Bitcoin with his recent statements, is also going in the same direction.
On Monday, Musk lost the title of second richest person in the world to LVMH boss Bernard Arnault, after Tesla stock lost more than 2 percent.
Musk’s wealth fell 24 percent from its peak in January to $ 160.6 billion.
In 2021, Musk’s wealth fell by $ 9.1 billion. This figure was the biggest drop recorded among US billionaires, according to data compiled by Bloomberg.
Musk, 49, took the first place in the rankings, with Tesla shares rising 750 percent last year.
With sales increasing in China and other parts of Asia, LVMH’s boss Bernard Arnault’s fortune rose by $ 47 billion to $ 161.2 billion.