Elon Musk, CEO of Tesla, SpaceX and Twitter, has set a new record: the first person to lose $ 100 billion from his fortune. Just a year ago, tech shares soared, while Tesla’s stock prices hit a record $401 level in November 2021. At that time, Musk’s net worth had reached approximately $340 billion.Elon Musk got a record he didn’t want
Although Elon Musk has lost a record $100 billion from his wealth this year, he still remains the richest person in the world. According to Bloomberg and Forbes estimates, the Tesla CEO’s net worth is currently between $170 and $182 billion. Bernard Arnault, the founder and CEO of LVMH, ranks second in the list of the richest people in the world ($ 157 billion). Jeff Bezos, on the other hand, has a net worth of approximately $124 billion and ranks 4th on the list.
Falling Tesla shares affected Musk’s fortune
When Musk’s fortune peaked in November 2021 and reached the level of 340 billion dollars, his closest rival at that time was Jeff Bezos, and he had a fortune of about 200 billion dollars. But since then, Musk’s fortune has shrunk in an unprecedented way, with the global economic recession, the relative decline in demand for Tesla, market conditions and reduced confidence due to inflation.In fact, the biggest impact here comes from Tesla. Because Musk owns 15 percent of Tesla. Tesla has lost more than 59 percent of its value this year. Therefore, these sharp declines directly affect Musk’s wealth.
Elon Musk, CEO of Tesla, SpaceX and Twitter, on the other hand, needn’t worry too much. As of now, he has a net worth equal to Iraq’s annual GDP. If Musk wants, he can buy 1.9 billion barrels of oil, 97.5 million ounces of gold and even 10.5 million bitcoins.
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