Falling Tesla Stocks Have Taken a $100 billion Bite Out of Elon Musk’s Fortune

Falling Tesla Stocks Have Taken a $100 billion Bite Out of Elon Musk’s Fortune

Opinions expressed by Entrepreneur contributors are their own.

He’s still immensely wealthy, but the Bloomberg Billionaires Index reports Elon Musk‘s wealth dropped by almost $100 billion this year, the steepest drop ever.



Nathan Stirk | Getty Images

On Monday, Tesla shares hit a two-year low. By Tuesday, the dip had put Musk’s net worth at $171 billion — down from $340 billion in November 2021. Bloomberg says the tech mogul’s wealth comes from Tesla, SpaceX, and Twitter. Since the beginning of 2022, Tesla shares have dropped by nearly 60%. Still, Musk remains the wealthiest man, with about $13 billion more than no. 2 Bernard Arnault, chair of LVMH Moet Hennessy Louis Vuitton.

Tesla’s stock market plunge is due to investor worries about the EV company’s Chinese market, which has been heavily impacted by China’s Covid policies. Tesla’s shareholders are also likely to be concerned about Musk’s ability as CEO of Tesla after his purchase of Twitter. Tesla stock prices are feeling the heat, as well as worries about Fed interest rate hikes and an economic downturn.

Investors.com writer Ed Carson provides an overview and some context:

Tesla stock is not doing well. It’s not the only one. Aggressive stocks have had a terrible 2022. Tesla’s EV rivals in particular have struggled, including Nio stock, Li Auto, Rivian (RIVN) and BYD. So by that measure, TSLA stock doesn’t look especially bad over the course of 2022. BYD is flat in November, while Nio and Li Auto are both up this month. Tesla stock has lost one fourth of its value.

As of early Wednesday, neither Tesla nor Musk had any comment on the news.



  • Online scams are more sophisticated than ever. Here’s How to Shop Safely on Black Friday and Cyber Monday, According to a Cyber Intelligence Expert.



  • This Guy Saved Barbie from Cultural Extinction. He Did It by Asking One Big Question.



  • The Top 5 Hot Franchise Categories for 2023, According to One Industry Expert



  • Why can’t we resist Cyber Monday and Black Friday? A Behavioral Economist Explains the Psychological Forces That Make Sales Irresistible.



  • I Couldn’t Sleep. I was obsessed with my failures. Then I Found the Weirdest Cure.



  • This Pitch Scored a $250,000 Investment — But It Almost Didn’t Happen



  • Employees were required to return home. Here’s How We Invite Them to Come Back.

  • Read More