Elon Musk Is the First Person to Lose $200 Billion

Elon Musk Is the First Person to Lose $200 Billion

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It’s been an exciting ride. Elon Musk. Musk has seen his net worth shrink by $200 billion since January 2021 when he became the second person to reach $200 billion. This was followed by Tesla, his signature company, reaching a market capitalization in excess of $1 trillion.

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You don’t need to create a GoFundMe. You can find the The Twitter Owner and Tesla It is unlikely that the CEO will ever run out of money. Bloomberg reports that he is still astride a bonfire, partly because of his Twitter purchase, which may have cost him his Tesla fortune.

Bloomberg has more:

Musk, 51, has seen his wealth plummet from $137 billion to $137 billion since Tesla shares plunged in recent weeks, including a 11% drop on Tuesday according to Bloomberg Billionaires Index. His fortune reached $340 billion on November 4, 2021. He was still the world’s most wealthy person until he was overtaken by Bernard Arnault (the French tycoon behind luxury-goods giant LVMH).

Tesla is synonymous with EVs For many years. Particularly since Musk bought Twitter, Tesla’s market share and branding dominance has declined. Shares have dropped by 65% due to investor worries in 2022.

Bloomberg notes that Musk sold so much of his Tesla stock, that his most important asset is now Space Exploration Technologies Corp. SpaceX.

Elon Musk isn’t too worried. Tweeting Statements like “Tesla executes better than ever!” December 16, 2016, was the last day that the stock price of the EV company was $150 per share.

Tesla stocks were $108.10 as of January 3, 2023. They had been selling for $383.20 Jan. 4, 2022.

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