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2022-12-14

Musk Loses World’s Richest Title to Arnault With Tesla Unwinding

The Tesla CEO’s wealth has been cut in half from its $340 billion peak partly due to his Twitter pur

Musk Loses World’s Richest Title to Arnault With Tesla Unwinding

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{"i18n":{"language":"en_US"},"data":{"magic":2,"id":9921354839,"tweetId":"9921354839","gmtCreate":1670982567222,"gmtModify":1676538470797,"author":{"id":4105508183426640,"authorId":4105508183426640,"authorIdStr":"4105508183426640","name":"katang_sunse","avatar":"https://community-static.tradeup.com/news/f730004f590af4db103e4a70cbd6d06b","vip":1,"userType":1,"introduction":"","boolIsFan":false,"boolIsHead":false,"crmLevel":5,"crmLevelSwitch":0,"individualDisplayBadges":[],"starInvestorFlag":false},"themes":[],"images":[],"coverImages":[],"html":"<html><head></head><body><p>luxury brand stronghold</p></body></html>","htmlText":"<html><head></head><body><p>luxury brand stronghold</p></body></html>","text":"luxury brand stronghold","highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"favoriteSize":0,"link":"https://ttm.financial/post/9921354839","repostId":2291471471,"repostType":4,"repost":{"id":"2291471471","pubTimestamp":1670970615,"share":"https://www.laohu8.com/m/news/2291471471?lang=&edition=full","pubTime":"2022-12-14 06:30","market":"us","language":"en","title":"Musk Loses World’s Richest Title to Arnault With Tesla Unwinding","url":"https://stock-news.laohu8.com/highlight/detail?id=2291471471","media":"Bloomberg","summary":"The Tesla CEO’s wealth has been cut in half from its $340 billion peak partly due to his Twitter pur","content":"<html><head></head><body><p>The Tesla CEO’s wealth has been cut in half from its $340 billion peak partly due to his Twitter purchase.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/129c799264cbaaab393f5edb546353fa\" tg-width=\"1000\" tg-height=\"645\" referrerpolicy=\"no-referrer\"/><span>Elon MuskPhotographer: Win McNamee/Getty Images</span></p><p>Elon Musk, once worth as much as $340 billion, has been displaced as the world’s richest person by Bernard Arnault.</p><p>Musk, 51, has seen his fortune tumble by more than $100 billion since January to $163.6 billion, according to the Bloomberg Billionaires Index. That’s less than the $170.8 billion net worth of Arnault, 73, whose wealth largely derives from his 48% ownership of fashion giant LVMH.</p><p>Musk’s fall from atop the rankings — the first time that’s happened since he was No. 2 in September 2021 — caps a tumultuous year for the frenetic billionaire. He shocked the world in April with his offer to take Twitter private for $44 billion, in a brazen display of how the wealthiest individuals could wield their massive fortunes.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/975a2bb0bec02230cd0f3bffe4f606ce\" tg-width=\"1000\" tg-height=\"695\" referrerpolicy=\"no-referrer\"/><span>Elon MuskPhotographer: Liesa Johannssen-Koppitz/Bloomberg</span></p><p>But his agreement coincided with the Federal Reserve and other central banks embarking on their most aggressive round of monetary tightening in a generation, slashing the valuations of high-flying companies like Musk’s Tesla Inc. The electric carmaker’s stock is down more than 50% this year.</p><p>Tesla fell 4.1% on Tuesday to $160.95, the lowest closing price since November 2020.</p><p>Musk tried for months to get out of the Twitter deal, but failed. He offloaded more than $15 billion in Tesla shares — about $8.5 billion in April, then another $6.9 billion in August — to raise enough cash to fund the purchase.</p><p>Once he finalized the Twitter acquisition in October, the Bloomberg wealth index knocked $10 billion from his fortune, reflecting that shares of similar businesses have slumped since he made his bid.</p><p>Musk has pledged to turn around the social-media platform, but he faces several challenges — some of his own making. He blasted Apple Inc. and threatened to withhold Twitter from its App Store at a time when other companies were already pulling their advertising from the site.</p><p>Meanwhile, Twitter is poised to face annual interest costs that exceed a measure of its earnings for all of 2021. Musk’s bankers are considering providing him with new margin loans backed by Tesla stock to replace some of the high-interest debt he layered on Twitter, Bloomberg News reported.</p><p>As Tesla’s stock price slides, Musk’s stake in Space Exploration Technologies Corp. has become an increasingly important part of his fortune. It’s worth $47 billion, based on the June funding round that valued the private company at about $125 billion.</p><p>SpaceX is offering to sell insider shares at a price that would raise the closely held company’s valuation to about $140 billion, Bloomberg News reported this week, citing people familiar with the matter. That higher value could lift his net worth, but it’s not yet being used by Bloomberg’s wealth index because it’s unclear whether any shares have traded so far and the size of the transactions.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/72e988336b952cf4cbdf9d56c89cc456\" tg-width=\"1000\" tg-height=\"666\" referrerpolicy=\"no-referrer\"/><span>Bernard ArnaultPhotographer: Nathan Laine/Bloomberg</span></p><p>Arnault, the new richest person in the world, is drama-free in comparison to Musk.</p><p>Arnault has long been a mainstay near the top of the wealth rankings, but his fortune never grew at the exponential pace of US tech billionaires. Now his empire is holding up while Mark Zuckerberg, Jeff Bezos and Alphabet Inc.’s Larry Page and Sergey Brin see their wealth hammered by rising interest rates.</p><p>Paris-based LVMH Moet Hennessy Louis Vuitton’s designer apparel, fine wines and retail business have benefited from pent-up demand unleashed when Covid-related shopping and travel restrictions were lifted in most countries. Arnault’s brands cater to the affluent — from Christian Dior and Fendi to jewelers Bulgari and Tiffany &amp; Co., and champagne house Moet &amp; Chandon.</p></body></html>","source":"lsy1584095487587","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Musk Loses World’s Richest Title to Arnault With Tesla Unwinding</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; 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}\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nMusk Loses World’s Richest Title to Arnault With Tesla Unwinding\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-12-14 06:30 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.bloomberg.com/news/articles/2022-12-13/elon-musk-loses-title-as-world-s-richest-person-to-lvmh-s-bernard-arnault?srnd=premium-asia><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>The Tesla CEO’s wealth has been cut in half from its $340 billion peak partly due to his Twitter purchase.Elon MuskPhotographer: Win McNamee/Getty ImagesElon Musk, once worth as much as $340 billion, ...</p>\n\n<a href=\"https://www.bloomberg.com/news/articles/2022-12-13/elon-musk-loses-title-as-world-s-richest-person-to-lvmh-s-bernard-arnault?srnd=premium-asia\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"LU2063271972.USD":"富兰克林创新领域基金","BK4527":"明星科技股","IE00BWXC8680.SGD":"PINEBRIDGE US LARGE CAP RESEARCH ENHANCED \"A5\" (SGD) ACC","LU0097036916.USD":"贝莱德美国增长A2 USD","LU2087621335.USD":"ALLSPRING GLOBAL FACTOR ENHANCED EQUITY \"A\" (USD) ACC","BK4550":"红杉资本持仓","LU0689472784.USD":"安联收益及增长基金Cl AM AT Acc","LU1852331112.SGD":"Blackrock World Technology Fund A2 SGD-H","LU0198837287.USD":"UBS (LUX) EQUITY SICAV - USA GROWTH \"P\" (USD) ACC","LU1720051017.SGD":"Allianz Global Artificial Intelligence AT Acc H2-SGD","LU0316494557.USD":"FRANKLIN GLOBAL FUNDAMENTAL STRATEGIES \"A\" ACC","LU1861215975.USD":"贝莱德新一代科技基金 A2","LU1861558580.USD":"日兴方舟颠覆性创新基金B","LU1548497426.USD":"安联环球人工智能AT Acc","BK4574":"无人驾驶","BK4551":"寇图资本持仓","LU1861220033.SGD":"Blackrock Next Generation Technology A2 SGD-H","LU0820561818.USD":"安联收益及增长平衡基金Cl AM DIS","LU0234572021.USD":"高盛美国核心股票组合Acc","LU1551013425.SGD":"Allianz Income and Growth Cl AMg2 DIS H2-SGD","BK4581":"高盛持仓","LU0348723411.USD":"ALLIANZ GLOBAL HI-TECH GROWTH \"A\" (USD) INC","BK4099":"汽车制造商","BK4511":"特斯拉概念","LU1720051108.HKD":"ALLIANZ GLOBAL ARTIFICIAL INTELLIGENCE \"AT\" (HKD) ACC","LU0943347566.SGD":"安联收益及增长平衡基金AM H2-SGD","BK4533":"AQR资本管理(全球第二大对冲基金)","BK4548":"巴美列捷福持仓","TSLA":"特斯拉","LU2357305700.SGD":"Allianz Global Artificial Intelligence ET H2-SGD","LU0820561909.HKD":"ALLIANZ INCOME AND GROWTH \"AM\" (HKD) INC","LU0234570918.USD":"高盛全球核心股票组合Acc Close","LU1839511570.USD":"WELLS FARGO GLOBAL FACTOR ENHANCED EQUITY \"I\" (USD) ACC","LU1861559042.SGD":"日兴方舟颠覆性创新基金B SGD","LU0053666078.USD":"摩根大通基金-美国股票A（离岸）美元","LU0823411888.USD":"法巴消费创新基金 Cap","LU0082616367.USD":"摩根大通美国科技A（dist）","LU1551013342.USD":"Allianz Income and Growth Cl AMg2 DIS USD","LU0719512351.SGD":"JPMorgan Funds - US Technology A (acc) SGD","LU0056508442.USD":"贝莱德世界科技基金A2","IE00B1XK9C88.USD":"PINEBRIDGE US LARGE CAP RESEARCH ENHANCED \"A\" (USD) ACC","BK4585":"ETF&股票定投概念","BK4534":"瑞士信贷持仓","IE00BSNM7G36.USD":"NEUBERGER BERMAN SYSTEMATIC GLOBAL SUSTAINABLE VALUE \"A\" (USD) ACC","BK4555":"新能源车"},"source_url":"https://www.bloomberg.com/news/articles/2022-12-13/elon-musk-loses-title-as-world-s-richest-person-to-lvmh-s-bernard-arnault?srnd=premium-asia","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2291471471","content_text":"The Tesla CEO’s wealth has been cut in half from its $340 billion peak partly due to his Twitter purchase.Elon MuskPhotographer: Win McNamee/Getty ImagesElon Musk, once worth as much as $340 billion, has been displaced as the world’s richest person by Bernard Arnault.Musk, 51, has seen his fortune tumble by more than $100 billion since January to $163.6 billion, according to the Bloomberg Billionaires Index. That’s less than the $170.8 billion net worth of Arnault, 73, whose wealth largely derives from his 48% ownership of fashion giant LVMH.Musk’s fall from atop the rankings — the first time that’s happened since he was No. 2 in September 2021 — caps a tumultuous year for the frenetic billionaire. He shocked the world in April with his offer to take Twitter private for $44 billion, in a brazen display of how the wealthiest individuals could wield their massive fortunes.Elon MuskPhotographer: Liesa Johannssen-Koppitz/BloombergBut his agreement coincided with the Federal Reserve and other central banks embarking on their most aggressive round of monetary tightening in a generation, slashing the valuations of high-flying companies like Musk’s Tesla Inc. The electric carmaker’s stock is down more than 50% this year.Tesla fell 4.1% on Tuesday to $160.95, the lowest closing price since November 2020.Musk tried for months to get out of the Twitter deal, but failed. He offloaded more than $15 billion in Tesla shares — about $8.5 billion in April, then another $6.9 billion in August — to raise enough cash to fund the purchase.Once he finalized the Twitter acquisition in October, the Bloomberg wealth index knocked $10 billion from his fortune, reflecting that shares of similar businesses have slumped since he made his bid.Musk has pledged to turn around the social-media platform, but he faces several challenges — some of his own making. He blasted Apple Inc. and threatened to withhold Twitter from its App Store at a time when other companies were already pulling their advertising from the site.Meanwhile, Twitter is poised to face annual interest costs that exceed a measure of its earnings for all of 2021. Musk’s bankers are considering providing him with new margin loans backed by Tesla stock to replace some of the high-interest debt he layered on Twitter, Bloomberg News reported.As Tesla’s stock price slides, Musk’s stake in Space Exploration Technologies Corp. has become an increasingly important part of his fortune. It’s worth $47 billion, based on the June funding round that valued the private company at about $125 billion.SpaceX is offering to sell insider shares at a price that would raise the closely held company’s valuation to about $140 billion, Bloomberg News reported this week, citing people familiar with the matter. That higher value could lift his net worth, but it’s not yet being used by Bloomberg’s wealth index because it’s unclear whether any shares have traded so far and the size of the transactions.Bernard ArnaultPhotographer: Nathan Laine/BloombergArnault, the new richest person in the world, is drama-free in comparison to Musk.Arnault has long been a mainstay near the top of the wealth rankings, but his fortune never grew at the exponential pace of US tech billionaires. Now his empire is holding up while Mark Zuckerberg, Jeff Bezos and Alphabet Inc.’s Larry Page and Sergey Brin see their wealth hammered by rising interest rates.Paris-based LVMH Moet Hennessy Louis Vuitton’s designer apparel, fine wines and retail business have benefited from pent-up demand unleashed when Covid-related shopping and travel restrictions were lifted in most countries. Arnault’s brands cater to the affluent — from Christian Dior and Fendi to jewelers Bulgari and Tiffany & Co., and champagne house Moet & Chandon.","news_type":1},"isVote":1,"tweetType":1,"viewCount":244,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[],"verified":2,"subType":0,"readableState":1,"langContent":"EN","currentLanguage":"EN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"upFlag":false,"length":21,"xxTargetLangEnum":"ORIG"},"commentList":[],"hasMoreComment":false,"orderType":2}