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Tesla’s Elon Musk loses top spot in Forbes’ annual “World’s Billionaires List”

Steve Jurvetson from Menlo Park, USA, CC BY 2.0 , via Wikimedia Commons

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Tesla, SpaceX, and Twitter CEO Elon Musk has lost his spot at the top of Forbes’ annual “World’s Billionaires List.” Musk’s net worth, estimated to be $180 billion today, saw a $39 billion decline last year. 

Replacing Elon Musk at the top of the annual Forbes World’s Billionaires List was Bernard Arnault, the chairman of French luxury goods giant LVMH. While Musk lost a notable chunk of his net worth, Arnault saw his net worth rise by over $50 billion in the past year to $211 billion.

Musk and Arnault are typically head-to-head on billionaire tracker lists, such as the Bloomberg Billionaires Index. The same trend was observed in Forbes’ “Real-Time Billionaires” list, which is updated daily. However, if one were to look at Musk and Arnault’s wealth annually, the LVMH chairman would come out on top. 

As noted by Forbes, Elon Musk’s wealth decline could be attributed in no small part to his $44 billion acquisition of Twitter, which was financed by Tesla shares. Musk’s selloff of TSLA shares for Twitter pressured the EV maker’s stock. Although Tesla has since recovered some of those losses, its stock remains lower than it was before Musk’s Twitter acquisition. 

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Musk’s focus on multiple endeavors helped his annual net worth last year. SpaceX is actually a pretty bright spot for the billionaire, with its valuation rising from $13 billion to $140 billion over the past year.  

Bernard Arnault, on the other hand, had a “banner year” in 2022, according to Forbes. LVMH, which includes Louis Vuitton, Christian Dior, and Tiffany & Co., achieved record-high profits. LVMH shares have also increased by 25% over the past year, and Arnault has recently announced succession plans for his children.

The total number of billionaires on this year’s Forbes list dropped to 2,640 from 2,668, marking the second consecutive year of decline.

Overall, Forbes stated that the world now has fewer billionaires today. The total number of billionaires in the publication’s annual list fell from 2,668 to 2,640. Chase Peterson-Withorn, Forbes senior editor of wealth, noted in a release that a significant number of the world’s billionaires are less wealthy today than last year. 

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“It’s been another rare down year for the planet’s richest people. Nearly half the list is poorer than they were 12 months ago, but a lucky few are billions — or even tens of billions — of dollars richer,” Peterson-Withorn said. 

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Maria--aka "M"-- is an experienced writer and book editor. She's written about several topics including health, tech, and politics. As a book editor, she's worked with authors who write Sci-Fi, Romance, and Dark Fantasy. M loves hearing from TESLARATI readers. If you have any tips or article ideas, contact her at maria@teslarati.com or via X, @Writer_01001101.

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Tesla Sweden’s port deal sparks political clash in Trelleborg

The extension of Tesla’s lease has drawn criticism from the local Social Democratic opposition.

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Andrzej Otrębski, CC BY-SA 4.0 , via Wikimedia Commons

Tesla Sweden’s lease agreement at the Port of Trelleborg has triggered a political dispute, with local leaders divided over whether the municipally owned port should continue renting space to the electric vehicle maker amidst its ongoing conflict with the IF Metall union.

Tesla Sweden’s recently extended contract with the Port of Trelleborg has triggered calls for greater political oversight of future agreements.

Tesla has used the Port of Trelleborg to import vehicles into Sweden amid a blockade by the Transport Workers’ Union, as noted in a report from Dagens Arbete (DA). By routing cars via trucks on passenger ferries, the company has maintained deliveries despite the labor dispute. Vehicles have also been stored and prepared in facilities leased from the municipal port company.

The extension of Tesla’s lease has drawn criticism from the local Social Democratic opposition. Lennart Höckert, an opposition councilor, described the port’s decision as a “betrayal of the Swedish model,” arguing that a municipally owned entity should not appear to side with one party in an active labor dispute.

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“If you want to protect the Swedish model, you shouldn’t get involved in a conflict and help one of the parties. When you as a company do this, it means that you are actually taking a position and making things worse in an already ongoing conflict,” Höckert said. 

He added that the party now wants politicians to review and approve future rental agreements involving municipal properties at the port.

The proposal has been sharply criticized by Mathias Andersson of the Sweden Democrats, who chairs the municipal board. In comments to local media, Andersson described the Social Democrats’ approach as “Kim Jong Un-style,” arguing that political leaders should not micromanage a company governed by its own board.

“I believe that the port should be run like any other business,” Andersson said. He also noted that operational decisions fall under the authority of the Port of Trelleborg’s board instead of elected officials.

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The Port of Trelleborg had previously hinted that it would not enter into new agreements with Tesla, but the renewal of its existing contract with the EV maker reignited debate.

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Elon Musk’s X sees outage on Monday as users report issues

Monday’s outage follows a similar issue that befell the social media platform in mid-January.

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Credit: Linda Yaccarino/X

X experienced an outage on Monday morning, with tens of thousands of users reporting that the platform failed to load across both desktop and mobile. The disruption began around 8:02 a.m. ET, as per Downdetector data, and quickly escalated in the U.S. and U.K.

Monday’s outage follows a similar issue that befell the social media platform in mid-January.

Shortly after 8 a.m. ET, Downdetector showed a sharp rise in incident reports. At one point, U.S. complaints exceeded 40,000, while U.K. reports climbed past 6,000. Earlier in the outage, filings had already crossed 11,000 in the U.S. and 3,300 in the U.K., as noted in a TechRadar report. X users in other locations, such as the Philippines and Costa Rica, also reported similar issues.

Users attempting to access X were met with a “something went wrong” message. Feeds did not refresh, posts failed to appear, and both the social media platform’s app and web versions appeared affected by the issue. The outage struck during peak weekday usage, amplifying its visibility across regions worldwide.

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X has not issued an official explanation for the latest outage or confirmed what caused the service disruption. The scale of complaints drew comparisons to the platform’s major outage in November 2025, which resulted in users being met with “Internal server error / Error code 500” messages, as well as Cloudflare-related error notices.

The incident also comes just weeks after X experienced a similar downtime in mid-January. That outage seemed more notable, however, with more than 100,000 users reporting issues with the social media platform on Downdetector.

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New details emerge on The Boring Company’s Universal tunnel plans

The materials outline staffing, construction timelines, tunnel configuration, and operational details that were not previously public.

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Credit: Grok Imagine

Newly released bidding documents have shed light on how Elon Musk’s Boring Company plans to connect Universal Orlando Resort’s north campus to Universal Epic Universe. 

The materials outline staffing, construction timelines, tunnel configuration, and operational details that were not previously public about the planned Loop system.

The Shingle Creek Transit & Utility Community Development District voted Feb. 11 to begin contract negotiations with The Boring Company after ranking it the top bidder for the Universal Orlando transport project. Now, evaluation documents obtained by local news media reveal how the company intends to execute the project, according to Attraction Insight.

The proposal describes a twin-tunnel configuration, with one tunnel in each direction. It also noted that permitting, design, and construction could take roughly a year and a half once approvals are secured. The company indicated it could deploy multiple tunnel boring machines and install temporary support infrastructure, including muck storage pits and stormwater systems, during construction.

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Bid documents list eight internal specialists assigned to the project, including tunnel engineers, structural engineers, and tunnel boring machine experts. Six subcontractors would handle fire protection, communications, soil treatment, and concrete work.

The company stated it “has the necessary internally produced tunneling equipment and personnel immediately available to complete this project for the district as quickly as permits and approvals can be obtained.”

Operationally, the system would mirror the company’s Las Vegas Loop model, using Tesla vehicles to provide point-to-point transport rather than fixed-route buses. The proposal frames the concept as “on-demand, express transportation,” with vehicles dispatched as needed and capacity adjustable in real time.

Stations could be built underground or above ground with ramp access into tunnels. The documents also referenced potential future integration of a configurable Robovan for passengers and cargo, though capacity projections for the Orlando tunnels have not yet been disclosed.

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The proposal states that the Loop can integrate “easily into environmentally sensitive areas,” but it does not provide detailed mitigation plans for Central Florida’s high water table and limestone geology, which is susceptible to sinkholes. The company has stated that it intends to hire an Orlando-based geotechnical firm to evaluate soil conditions.

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