News On Time
Breaking
🔴 Chief Minister Shri Vishnu Deo Sai calls for active youth participation in building a developed Chhattisgarh 🔴 Union Cooperation Secretary lauds Bastar’s ‘Cafe Pandum’ as a model of rehabilitation and self-reliance 🔴 From Fear to Hope: Delhi Influencers Witness Bastar’s Transformation 🔴 Drug-Free and Healthy Chhattisgarh Will Lay the Foundation for a Developed Chhattisgarh: Chief Minister Shri Vishnu Deo Sai 🔴 Providing Employment Opportunities to Youth, Accessible Services to Citizens and Equipping Youth with Modern Skills Our Priority: Chief Minister Shri Vishnu Deo Sai 🔴 Chhattisgarh aims to build a complete mineral value chain within the state, covering exploration, mining, processing, value addition, advanced manufacturing and recycling: Chief Minister Shri Vishnu Deo Sai 🔴 TIN Portal a ‘Mineral-to-Livelihood’ Initiative Linking Mineral Resources with Tribal Livelihoods: Chief Minister Shri Vishnu Deo Sai 🔴 Chief Minister Shri Vishnu Deo Sai Launches ‘E-Ret Sangwari’ Portal 🔴 ‘Mann Ki Baat’ gives national recognition to grassroots innovations, inspiring efforts: Chief Minister Shri Vishnu Deo Sai 🔴 No Compromise on Integrity of Examinations; Strict Action Against Irregularities: Chief Minister Shri Vishnu Deo Sai 🔴 Chief Minister Shri Vishnu Deo Sai calls for active youth participation in building a developed Chhattisgarh 🔴 Union Cooperation Secretary lauds Bastar’s ‘Cafe Pandum’ as a model of rehabilitation and self-reliance 🔴 From Fear to Hope: Delhi Influencers Witness Bastar’s Transformation 🔴 Drug-Free and Healthy Chhattisgarh Will Lay the Foundation for a Developed Chhattisgarh: Chief Minister Shri Vishnu Deo Sai 🔴 Providing Employment Opportunities to Youth, Accessible Services to Citizens and Equipping Youth with Modern Skills Our Priority: Chief Minister Shri Vishnu Deo Sai 🔴 Chhattisgarh aims to build a complete mineral value chain within the state, covering exploration, mining, processing, value addition, advanced manufacturing and recycling: Chief Minister Shri Vishnu Deo Sai 🔴 TIN Portal a ‘Mineral-to-Livelihood’ Initiative Linking Mineral Resources with Tribal Livelihoods: Chief Minister Shri Vishnu Deo Sai 🔴 Chief Minister Shri Vishnu Deo Sai Launches ‘E-Ret Sangwari’ Portal 🔴 ‘Mann Ki Baat’ gives national recognition to grassroots innovations, inspiring efforts: Chief Minister Shri Vishnu Deo Sai 🔴 No Compromise on Integrity of Examinations; Strict Action Against Irregularities: Chief Minister Shri Vishnu Deo Sai

Search News

अपनी पसंद की खबर खोजें

Politics National World State Business Education Health Sports Entertainment Crime Technology Social Media
होम Business Elon Musk Retains Position As World’s Richest Person
Elon Musk Retains Position As World’s Richest Person
Business

Elon Musk Retains Position As World’s Richest Person

News On Time Desk 01 June 2023
Share :

 Elon Musk has again become world’s richest person after shares of Bernard Arnault LVMH fell 2.6% in Paris trading.

Musk and Arnault have been neck-and-neck for the top spot this year in the Bloomberg Billionaires Index.

Arnault, the 74-year-old French business tycoon first surpassed Musk in December 2022 as the tech industry struggled and luxury showed resilience in the face of inflation.

Arnault founded LVMH which owns brands including Louis Vuitton, Fendi, and Hennessy.

According to the Bloomberg news agency, faith in the luxury sector’s buoyancy is starting to fade amid mounting signs of slowing economic growth, particularly in the critical market of China. Shares of LVMH tumbled about 10% since April, at one point wiping $11 billion from Arnault’s net worth in a single day.

However, Elon Musk has gained more than $55.3 billion this year, largely because of Tesla Inc. The Austin-based automaker — which comprises 71% of his fortune — has rallied 66% year-to-date.

According to the Bloomberg Billionaire Index, Elon Musk’s fortune is now valued at about $192.3 billion while Arnault’s is about $186.6 billion.

Tags :