{"id":1767297,"date":"2022-12-08T06:30:25","date_gmt":"2022-12-08T11:30:25","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1767297"},"modified":"2022-12-08T08:48:28","modified_gmt":"2022-12-08T13:48:28","slug":"elon-musk-loses-worlds-richest-man-title-for-now","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/elon-musk-loses-worlds-richest-man-title-for-now\/","title":{"rendered":"Elon Musk Loses \u201cWorld\u2019s Richest Man\u201d Title (For Now)"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"float:left\"><div class=\"counts mashsbcount\">18<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Felon-musk-loses-worlds-richest-man-title-for-now%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1767297&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><div><img decoding=\"async\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2022\/12\/2022.12.07-09.14-thepoliticalinsider-639102187ef8b.jpg\" class=\"ff-og-image-inserted\" alt=\"image\" \/><\/div>\n<p>Could it be that there are some things more important than money? For Elon Musk, it is appearing to be so. According to a report from Forbes, the CEO of Tesla, SpaceEx, and now<a href=\"https:\/\/www.mediaite.com\/news\/twitters-elon-musk-no-longer-worlds-wealthiest-person-per-forbes\/\" target=\"_blank\" rel=\"noopener\"> the owner of Twitter is no longer the world\u2019s richest<\/a> man.<\/p>\n<p>Beating Musk out for that title is LVMH Chairman and CEO Bernard Arnault. Following Arnault and Musk on the billionaires list are:<\/p>\n<ul>\n<li>Gautam Adani with a net worth of $134.8 billion.<\/li>\n<li>Founder of Amazon and owner of the Washington Post Jeff Bezos with $112 billion.<\/li>\n<li>Businessman and investor Warren Buffett at $106.8 billion.<\/li>\n<li>Co-founder of Microsoft Bill Gates at $105.6 billion.<\/li>\n<\/ul>\n<p>Rounding out the exclusive list is co-founder of Oracle Larry Ellison, who currently clocks in at a cool $102.1 billion.<\/p>\n<p>For the record, former President Donald Trump remains on the list with a net worth of $3.2 billion. Musk has taken a bit of a financial hit with his acquisition of Twitter since taking the company private thus and inheriting all of its financial challenges. Reuters reports that shares of Tesla stock have lost around 47% of value since Musk\u2019s purchase of the social media company as a repercussion of actions liberal users have deemed intolerable, and are now down around 2.7%.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Elon Musk is seen as a supervillain for using $44 billion of his own money to buy Twitter but Sam Bankman-Fried is treated with kid gloves for losing billions belonging to others. \ud83d\ude21<\/p>\n<p>\u2014 Dayna Louise Hickman (@newdayjones) <a href=\"https:\/\/twitter.com\/newdayjones\/status\/1599482638670376960?ref_src=twsrc%5Etfw\">December 4, 2022<\/a><\/p>\n<\/blockquote>\n<p><strong>RELATED:<a href=\"https:\/\/thepoliticalinsider.com\/cotton-slams-woke-kroger-ceo-to-his-face-for-asking-republicans-to-save-them-from-dem-regulations-best-of-luck\/?utm_source=home-headline-stories\" target=\"_blank\" rel=\"noopener\"> Cotton Slams \u2018Woke\u2019 Kroger CEO to His Face For Asking Republicans to Save Them From Dem Regulations: \u2018Best of Luck\u2019<\/a><\/strong><\/p>\n<h3>Paying a Price<\/h3>\n<p>Elon Musk has a net worth of approximately $185.7 billion and has <a href=\"https:\/\/www.reuters.com\/business\/elon-musk-loses-title-worlds-richest-man-forbes-2022-12-07\/\" target=\"_blank\" rel=\"noopener\">been number one on the Forbes list since<\/a> September of 2021. After Musk acquired Twitter at the end of October, Tesla investors discarded shares in the electric vehicle company citing concerns that Musk was more engrossed in Twitter. Because of the stock dump, Musk\u2019s net worth fell below $200 billion.<\/p>\n<div id=\"subscribe\" class=\"email-signup inarticle\">\n<h4>Support Conservative Voices!<\/h4>\n<h5><strong>Sign up to receive the latest<\/strong> political news, insight, and commentary delivered directly to your inbox.<\/h5>\n<\/div>\n<p>Since negotiations between Musk and Twitter began in April, Tesla has lost half of its market value. Musk has lost personal wealth in the neighborhood of $70 billion. According to Reuters, Musk acquired Twitter with $13 billion in loans and $33.5 billion equity commitment.\u00a0<\/p>\n<p>While Elon Musk may be seeing financial challenges for his companies since acquiring Twitter, he stated that the reason for purchasing the social media platform was to have\u00a0\u201ca <a href=\"https:\/\/www.ktvu.com\/news\/elon-musk-takes-over-twitter-saying-it-will-be-digital-town-square-not-a-free-for-all\" target=\"_blank\" rel=\"noopener\">common digital town square<\/a>, where a wide range of beliefs can be debated in a healthy manner.\u201d<\/p>\n<p>So far, he has remained consistent and seems committed to that mission. While his detractors will never believe it, the same situation was seen with former president Donald Trump. From boasting a net worth of $3.5 billion in 2017 to $2.4 billion in 2021, Trump <a href=\"https:\/\/www.newsweek.com\/donald-trumps-net-worth-fell-third-during-his-presidency-forbes-says-1581266\" target=\"_blank\" rel=\"noopener\">lost almost one third of<\/a> his total wealth.\u00a0<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">A billionaire knowingly buying a money losing, corrupt company that violated the bill of rights \u2013 and lord knows what else \u2013 with the intention to save <a href=\"https:\/\/twitter.com\/hashtag\/democracy?src=hash&#038;ref_src=twsrc%5Etfw\">#democracy<\/a> is about as patriotic as you get and dwarfs whatever the Rockefellers and Carnegies did. <a href=\"https:\/\/twitter.com\/elonmusk?ref_src=twsrc%5Etfw\">@elonmusk<\/a> <a href=\"https:\/\/twitter.com\/hashtag\/TWITTERGATE?src=hash&#038;ref_src=twsrc%5Etfw\">#TWITTERGATE<\/a><\/p>\n<p>\u2014 Free Bird \ud83c\uddfa\ud83c\uddf8 (@MarkDeMain1) <a href=\"https:\/\/twitter.com\/MarkDeMain1\/status\/1599052752360906752?ref_src=twsrc%5Etfw\">December 3, 2022<\/a><\/p>\n<\/blockquote>\n<p><strong>RELATED: <a href=\"https:\/\/thepoliticalinsider.com\/public-libraries-allow-drag-queen-story-time-but-not-kirk-camerons-book\/?utm_source=home-headline-stories\" target=\"_blank\" rel=\"noopener\">Public Libraries Allow Drag Queen Story Time But Not Kirk Cameron\u2019s Book<\/a><\/strong><\/p>\n<h3>Knowing What\u2019s Important<\/h3>\n<p>Along the same lines, Donald Trump did not seem to care about losing money. In October of 2019, he said, \u201cWhether <a href=\"https:\/\/www.reuters.com\/article\/us-usa-trump-loss\/trump-says-being-president-has-cost-him-2-billion-to-5-billion-idUSKBN1X021I\" target=\"_blank\" rel=\"noopener\">I lost $2 billion, $5 billion or less,<\/a> it doesn\u2019t make any difference. I don\u2019t care. I\u2019m doing this for the country. I\u2019m doing it for the people.\u201d<\/p>\n<p>In both cases, whether you like or dislike Musk and Trump, neither man was obligated to give up the opulent lifestyle of a billionaire and hang themselves out for ridicule from the public and ideological opponents.<\/p>\n<p>Donald Trump might have been perfectly content playing golf, enjoying his grandchildren, and declaring, \u201cyou\u2019re fired\u201d to reality show contestants. At 51, Elon Musk is a young man, wouldn\u2019t he have been just fine making electric cars and rockets?\u00a0<\/p>\n<p>There is also one special thing that no one talks about in the case of Elon Musk and Twitter. Elon Musk is\u00a0<em>not\u00a0<\/em>a native born American. He was<a href=\"https:\/\/www.cnbc.com\/2018\/06\/12\/telsas-elon-musk-tweets-he-arrived-in-north-america-at-17-with-2000.html\" target=\"_blank\" rel=\"noopener\"> born in South Africa and came to<\/a> the U.S. as a teenager. He knows the value of free speech better than, quite frankly, millions of native born Americans.\u00a0<\/p>\n<p>Sometimes, it\u2019s just not about the money.<\/p>\n<div>\n<p><strong>Now is the time to support and share the sources you trust.<\/strong><br \/>The Political Insider ranks #3 on <a href=\"https:\/\/blog.feedspot.com\/political_blogs\/\">Feedspot\u2019s<\/a> \u201c100 Best Political Blogs and Websites.\u201d<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Could it be that there are some things more important than money? For Elon Musk, it is appearing to be so. According to a report from Forbes, the CEO of<\/p>\n","protected":false},"author":1,"featured_media":1767300,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[547],"tags":[],"class_list":["post-1767297","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-the-bongino-report"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1767297","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1767297"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1767297\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1767300"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1767297"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1767297"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1767297"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}