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    World’s richest person: Musk slips to number 3, ranks behind Bezos, Arnault

    World’s richest person: Musk slips to number 3, ranks behind Bezos, Arnault

    World’s richest person: Musk slips to number 3, ranks behind Bezos, Arnault
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    By CNBCTV18.com  IST (Updated)

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    As per Forbes’s real-time billionaire’s list, Musk is now valued at $150.9 billion after consecutive falls in shares of Tesla.

    Tesla Chief Executive Officer and Space X founder Elon Musk has slipped to the third spot in the list of the Forbes billionaire rankings after a significant fall in his car company's shares recently. He lost close to $6.2 billion by Wednesday. This is his second fall on the list of global billionaires since January.
    As per Forbes’s real-time billionaires' list, Musk is now valued at $150.9 billion after consecutive falls in shares of Tesla shares over the last few weeks. Musk’s overall wealth has been falling dramatically since January when he was valued at $197 billion.
    The second spot has now been claimed by Frenchman Bernard Arnault, the owner of LVMH — a French multinational corporation and conglomerate specialising in luxury goods — with a fortune of $155.6 billion. The LVMH group encompasses over 70 luxury brands, including Louis Vuitton, and Christian Dior.
    Amazon CEO Jeff Bezos is unshakable at the number 1 position with $175.4 billion after he regained the top position in January from Musk. According to Forbes, Musk, at the time, dropped to the second position on its list of the richest people, behind Bezos after a fall in Tesla stock wiped $13.5 billion from his fortune in a day
    In February, when Musk's fortune was valued at $166.1 billion, he lost about $15.2 billion in a day as Tesla shares witnessed a dramatic fall. This fall had pushed the 49-year old billionaire to the second position in the list of the world's wealthiest people. The decline was fuelled partially by Musk's tweet on cryptocurrencies.
    "An email saying you have gold is not the same as having gold. You might as well have crypto. Money is just data that allows us to avoid the inconvenience of barter. That data, like all data, is subject to latency & error. The system will evolve to that which minimizes both,” came the tweet two weeks after Tesla announced that it added $1.5 billion in Bitcoin to its balance sheet.
    Towards February end, Musk had said Tesla’s Fremont, California, plant had shut down for two days due to “parts shortages”. A person with the knowledge of the situation told Reuters that at least some workers had been told they could take off for two days — February 24 and 25 — while another person said some employee parking lots appeared to have fewer people than usual on February 25.
    On March 3, an unmanned rocket of Musk’s Space exploded on the ground, fresh on the heels of two fiery crashes.
    Later Musk tweeted jokingly: “Starship SN10 landed in one piece!”
    The prototype took off a little before 11.20 p.m. GMT from Boca Chica, Texas.
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