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Tesla shares dip, Elon Musk loses world’s second-richest ranking

| May 18, 2021, 02:53:18 PM | TNN & Agencies
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On May 17, Tesla Inc’s chief executive officer lost his spot as the world’s second-richest person to LVMH Chairman Bernard Arnault as the electric vehicle-maker’s shares fell 2.2 percent. That was on top of last week’s slump amid a global rout in technology stocks and fresh signs of trouble in its China business. Musk, 49, became the world’s richest person in January after Tesla’s shares surged almost 750 percent last year amid a boom in technology-driven stocks.

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