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Elon Musk; First person in the world to lose 200 billion dollars

16:48, Saturday, 31 December, 2022
Elon Musk; First person in the world to lose 200 billion dollars

Tesla CEO Elon Musk is the first person in the world to lose $200 billion in wealth. According to the Bloomberg Billionaires Index, Musk’s net worth has fallen by more than $200 billion. Musk’s net worth crossed $200 billion in January 2021. Amazon’s Jeff Bezos is the only other person besides Musk to achieve this feat

As of November 2021, Musk’s net worth was $340 billion. Currently it is just $137 billion. During this period, there was a drop of 203 billion dollars in Musk’s assets. Musk’s net worth has fallen due to a drop in Tesla’s stock price and the sale of shares to pay for the Twitter deal. Tesla shares are down 69 percent so far this year. Musk acquired the social media platform Twitter for $44 billion.

Two weeks ago, Musk tweeted against the US Fed Reserve raising interest rates. In a recent podcast interview, Musk also advised against borrowing during stock market volatility. Musk is currently the second richest person in the world behind Bernard Arnault. Arnold’s net worth is $162 billion. India’s Gautam Adani is third with $121 billion.

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