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Elon Musk poised to lose title of world’s richest person · Elon Musk Podcast

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  Welcome to today's episode of the Elon Musk podcast and on
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  this episode we'll be discussing the recent news that Elon Musk
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  is no longer. The world's richest person,
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  after being overtaken by French billionaire, Bernard arnault
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  musk's, net worth has slipped to second place again, losing over
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  one point, nine billion dollars in just one day, looks for the
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  reasons behind this change. What it means for the global
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  economy and what the future holds for both of these
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  billionaires in the upcoming episode.
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  Now, the world's Richest person. Race ranking is a highly coveted
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  and closely watched title in. The competition is fierce Elon
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  Musk and Bernard. Arnault have been battling it
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  out for the top spot over the past year with their fortunes,
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  fluctuating wildly based on various factors and in late 2021
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  Forbes named musk the richest person in history with a fortune
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  nearing 300 billion dollars. However since then his wealth
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  has fallen drastically due to a variety of issues.
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  Use including his Twitter acquisition and slow down in
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  Tesla sales. Now despite these setbacks must
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  remain, the world's richest person.
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  Until recently when he was overtaken by our know, the
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  founder of luxury goods conglomerate lvmh, according to
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  Bloomberg billionaires index. Our nose wealth is currently
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  estimated at 186 billion dollars while musk's net worth is slip
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  to 184 billion, however, Forbes, well track her estimates, that
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  are nose. Worth is actually 205 billion
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  with musk's net worth at 194 billion.
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  The discrepancy between these two rankings is due to the
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  different methodologies they use to calculate their wealth.
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  Now what caused musk to loses top spot in the rankings.
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  According to Fortune, musk's, net worth was boosted by a major
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  rally in Tesla, shares with propelled his wealth upwards.
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  However, this company recent 2023, investor day left, a lot
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  of people disappointed causing Is to Tumble more than five
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  percent in a single day in the drop in value cause Ilan to lose
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  over one point. Nine billion dollars dropped him
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  into second place behind our know.
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  Now in contrast our nose wealth went up by around two billion
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  dollars after a 1.6 billion dollar share buyback sent lvmh
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  stock, ticking upward and cementing, its status as
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  Europe's Most Valuable firm. However, the stock was trading
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  around 1% lower During European trading hours on Thursday,
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  indicating that the battle for the top spot is far from over.
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  Now it's worth noting that the gap between these two
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  billionaires wealth, incredibly tight, and changeable, it goes
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  up and down. They have switched places in the
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  ranking of the world's wealthiest person numerous times
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  in the past year and it's likely that they'll continue to do so
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  in the future. Now, while the competition
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  between musket are no, may seem like a simple rivalry between
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  two billionaires. It actually has significant
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  implications for the global economy.
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  Musk's wealth is tied up in Tesla, which is currently the
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  world's most valuable car maker. The success or failure of Tesla
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  can have a ripple effect on the entire automotive industry and
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  therefore the economy as a whole, similarly our knows lvmh
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  is a major player in the luxury goods Market which is a key
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  indicator of global economic health.
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  So what does the future hold for these two billionaires and it's
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  only time that's going to answer that question.
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  However, it's clear that their fortunes are closely tied to the
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  success of the respective companies as Tesla and lvmh
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  continue to navigate an ever-changing economic
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  landscape. It's likely that musk and are no
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  will remain at the Forefront of the two richest people.
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  Now speaking of Tesla, their shares fell about 7%.
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  Last Thursday, March 2nd after CEO, Elon Musk and his team
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  presented a Tesla's investor day the day before.
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  Now left investors disappointed by the lack of detail on new
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  products and an affordable electric car musk and more than
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  a dozen Executives. Presented plans to cut assembly
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  costs in half. Discuss the company's Innovation
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  and managing operations and announced a new plant in Mexico.
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  However investors were hoping for More information on Tesla's
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  timeline for the concepts presented and any new Tesla
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  products. Now, founder of Merlin investor
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  said the biggest surprise coming out of Tesla investor day is
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  that there weren't surprises and the lack of an announcement on a
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  more affordable electric car which everybody's been waiting
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  for a very long time was especially disappointing for
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  investors Tesla Stockbridge Rose sixty percent so far this year.
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  Ear. But it fell after the
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  presentation. AJ Bell, invest investment
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  director. Rest mold said the markets were
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  primed for a big announcement perhaps on something like a more
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  affordable new model, it may just have been a case of failing
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  to live up to the hype. People have been waiting for
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  about a 25 thousand dollar Tesla vehicle for years.
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  It's more affordable, some people can't afford the base
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  model, 40,000 dollar model 3, They need the lower end model,
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  the 25,000 dollar twenty thousand dollar model in order
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  to afford a Tesla. Now, musk's master plan was more
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  of a message of Hope for wide spray.
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  It spread electrification than a road map for Tesla with
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  vehicles. And most people said that it was
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  somewhat disjointed and fairly technical.
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  It was very technically intense. I could say from listening to it
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  and Tesla's event is created. A stir on the Net in the past
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  with musk's dance moves at the opening of the company's Berlin
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  plant in 2022 and a China event 2020 going viral on social
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  media. But this time there was kind of
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  lack of excitement during the show and these things are shows,
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  they're produced in a high-volume and they have a lot
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  of money behind them. So there isn't as much
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  excitement. It was more technical than
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  things for a broader. Outlook for Tesla.
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  Now, Tesla plans to use 75% less Silicon carbide in its Vehicles,
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  without compromising performance or efficiency in the future.
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  And they also weighed ON Semiconductor makers, and
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  suppliers STM micro electronics and wolf speed ink in the
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  reduction, plan is bad news for the whole silicon carbide,
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  production chain, and in particular for St.
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  Micro now, those things are important for the future, but
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  didn't get investors invested now, despite the disappointment
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  from He's investors, Tesla's plans to cut assembly costs in
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  invest, in a new plant in Mexico.
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  Are promising signs for the future of the company.
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  Before we continue with our episode.
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  We'll be taking a quick break. Stay tuned, we'll be right back.
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  Thanks for sticking with us during our break.
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  Now let's dive right back into the discussion.
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  The automaker has faced numerous challenges over the past year,
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  including supply chain issues and a shortage of semiconductors
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  Tesla success is crucial for the electric vehicle industry as a
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  whole and musk's vision of a sustainable future.
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  Relies on widespread adoption of electric vehicles and Tesla's
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  Innovations, have pushed that industry forward.
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  However, the pressure on Tesla to continue innovating and
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  delivering. It's promise is super high.
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  And as more automakers enter the electric vehicle Market, Tesla
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  will need to stay ahead of the competition and continue to push
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  the boundaries of what's possible investors will be
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  watching closely as Tesla moves forward with its plan to cut
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  costs and expand its operations in the electric vehicle industry
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  is still in its early stages and there's plenty of room for
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  growth and Innovation Tesla's disappointing.
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  Investor day may have caused a temporary setback.
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  But the company's ambitious plans for the future and it's
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  track record of innovation. Make it a key player in the EV
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  industry for the future and is musk is shown from time and time
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  again. Anything is possible with enough
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  vision and determination. Thank you for tuning in to the
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  Elon Musk podcast brought to you by stage. 0 Productions, and
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  hosted by me will Walden. We hope you've enjoyed today's
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  episode and gained some valuable insights.
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