Elon Musk has lost his crown as the world's richest man amid a broad collapse in Tesla's value and as he wades deeper into America's culture wars, with each controversial tweet seeming to further erode his electric car company's brand.
Forbes, which runs a real-time tally of the world's richest people, said Mr Musk was worth $181.3 billion when the markets closed on Monday, a drop of $7.4 billion in one day.
He was supplanted in top spot by Bernard Arnault, whose family own the world's leading luxury group, LVMH. Forbes valued Mr Arnault's fortune at $186.2 billion.
At number three is India's Gautam Adani, chairman of the Adani Group. Amazon founder Jeff Bezos and investor Warren Buffett round out the list's top five.
Mr Musk's wealth has plummeted this year, driven in part by a drop in tech stocks but also largely by Tesla investors dumping shares as the company's co-founder turns his attention to running Twitter.
World's richest people - In pictures
He bought the social media platform for $44 billion in October, partly through the sale of his own Tesla shares.
He immediately fired more than half of the staff and quickly reinstated several banned accounts in the name of free speech, including those of former president Donald Trump and Congresswoman Marjorie Taylor Greene.
Mr Musk's net worth has plunged more than $100 billion this year and looks set to collapse further.
Instead of moving to reassure investors that he is still behind the wheel at Tesla, he has continued to focus on perceived grievances against "woke" political discourse in the US and beyond.
Over the weekend, Mr Musk tweeted: “My pronouns are Prosecute/Fauci", ridiculing people who use gender-neutral pronouns and attacking Dr Anthony Fauci, the leading US expert on infectious diseases.
His public condemnation of Dr Fauci is “dangerous” and “disgusting” and should be called out, White House press secretary Karine Jean-Pierre said on Monday.
Mr Musk's continual attack on a large part of his own customer base, particularly environmentally conscious liberals on the East and West coasts of the US, has eroded the perception of the Tesla brand.
He was booed loudly at a comedy event with Dave Chappelle over the weekend.
It is not all bad news for investors. Those who have shorted Tesla have seen bumper gains this year. The electric car maker lost 6.27 per cent of its value on Monday alone, delivering handsome returns to them.
Tesla field engineers heat-test vehicles in Dubai - in pictures
ESSENTIALS
The flights
Emirates flies direct from Dubai to Rio de Janeiro from Dh7,000 return including taxes. Avianca fliles from Rio to Cusco via Lima from $399 (Dhxx) return including taxes.
The trip
From US$1,830 per deluxe cabin, twin share, for the one-night Spirit of the Water itinerary and US$4,630 per deluxe cabin for the Peruvian Highlands itinerary, inclusive of meals, and beverages. Surcharges apply for some excursions.
Ferrari 12Cilindri specs
Engine: naturally aspirated 6.5-liter V12
Power: 819hp
Torque: 678Nm at 7,250rpm
Price: From Dh1,700,000
Available: Now
Election pledges on migration
CDU: "Now is the time to control the German borders and enforce strict border rejections"
SPD: "Border closures and blanket rejections at internal borders contradict the spirit of a common area of freedom"
How to vote
Canadians living in the UAE can register to vote online and be added to the International Register of Electors.
They'll then be sent a special ballot voting kit by mail either to their address, the Consulate General of Canada to the UAE in Dubai or The Embassy of Canada in Abu Dhabi
Registered voters mark the ballot with their choice and must send it back by 6pm Eastern time on October 21 (2am next Friday)
Federer's 19 grand slam titles
Australian Open (5 titles) - 2004 bt Marat Safin; 2006 bt Marcos Baghdatis; 2007 bt Fernando Gonzalez; 2010 bt Andy Murray; 2017 bt Rafael Nadal
French Open (1 title) - 2009 bt Robin Soderling
Wimbledon (8 titles) - 2003 bt Mark Philippoussis; 2004 bt Andy Roddick; 2005 bt Andy Roddick; 2006 bt Rafael Nadal; 2007 bt Rafael Nadal; 2009 bt Andy Roddick; 2012 bt Andy Murray; 2017 bt Marin Cilic
US Open (5 titles) - 2004 bt Lleyton Hewitt; 2005 bt Andre Agassi; 2006 bt Andy Roddick; 2007 bt Novak Djokovic; 2008 bt Andy Murray
MATCH INFO
Inter Milan 2 (Vecino 65', Barella 83')
Verona 1 (Verre 19' pen)
TECH%20SPECS%3A%20APPLE%20WATCH%20SE%20(second%20generation)
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Living in...
This article is part of a guide on where to live in the UAE. Our reporters will profile some of the country’s most desirable districts, provide an estimate of rental prices and introduce you to some of the residents who call each area home.
TOURNAMENT INFO
Women’s World Twenty20 Qualifier
Jul 3- 14, in the Netherlands
The top two teams will qualify to play at the World T20 in the West Indies in November
UAE squad
Humaira Tasneem (captain), Chamani Seneviratne, Subha Srinivasan, Neha Sharma, Kavisha Kumari, Judit Cleetus, Chaya Mughal, Roopa Nagraj, Heena Hotchandani, Namita D’Souza, Ishani Senevirathne, Esha Oza, Nisha Ali, Udeni Kuruppuarachchi
Seemar’s top six for the Dubai World Cup Carnival:
1. Reynaldothewizard
2. North America
3. Raven’s Corner
4. Hawkesbury
5. New Maharajah
6. Secret Ambition
Company%C2%A0profile
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Terror attacks in Paris, November 13, 2015
- At 9.16pm, three suicide attackers killed one person outside the Atade de France during a foootball match between France and Germany
- At 9.25pm, three attackers opened fire on restaurants and cafes over 20 minutes, killing 39 people
- Shortly after 9.40pm, three other attackers launched a three-hour raid on the Bataclan, in which 1,500 people had gathered to watch a rock concert. In total, 90 people were killed
- Salah Abdeslam, the only survivor of the terrorists, did not directly participate in the attacks, thought to be due to a technical glitch in his suicide vest
- He fled to Belgium and was involved in attacks on Brussels in March 2016. He is serving a life sentence in France
BAD%20BOYS%3A%20RIDE%20OR%20DIE
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