The crossing could last a long time. After being surpassed this Tuesday by Elon Musk at the head of the greatest fortunes on the planet, Bernard Arnault recovered last night the title that he had acquired last December.
According to the Bloomberg Billionaires Index, the LVMH boss’s career net worth is $186 billion compared with the Tesla boss’s $184 billion. And the gap should widen. In e-commerce after the close, Tesla shares fell sharply more than 5%, which could cut Elon Musk’s fortune by another billion dollars if the trend continues today.
Bernard Arnault “benefited” from the failed performance of the American billionaire to climb back to the top of the ranking of the world’s greatest fortunes. Elon Musk, who unveiled his vision of the future on Wednesday, March 1, disappointed investors.
No new vehicle, no concrete announcement, just a very general presentation on the future of mobility and fossil fuels. Awaited around the corner after a year 2022 marked by the soap opera of the takeover of Twitter, the Tesla boss who had managed to reassure the markets in 2023 seems to have stumbled upon the carpet again this Wednesday.
Although Tesla is the reactor of the empire and the ambitions of Elon Usk, the latter gave the impression that he was barely involved in the management of the automotive group. If he has set a goal of 20 million vehicles produced by 2030, observers have undoubtedly considered this announcement unrealistic when the manufacturer currently produces 15 times less.
At the same time, LVMH announced its intention to repurchase a maximum of 1.5 billion euros of shares with a view to their cancellation. A practice highly appreciated by shareholders and which drives up prices. Bernard Arnault “won” like this on Wednesday the equivalent of 2,000 million dollars when his rival “lost” 1,900 million.
Source: BFM TV
