Elon Musk loses 200 billion
January 1, 2023 07:52 PM
Twitter’s new chief, Elon Musk has become the only person in human history to lose $200 billion from net worth, reported 24NewsHD TV channel.
According to the Bloomberg Billionaire Index, after Amazon's owner Jeff Bezos, Musk was the second person with more than $200 billion of "personal fortune", a figure he achieved in January 2021.
Elon Musk's wealth fell to $137 billion after Tesla shares declined in recent weeks. This includes a massive 11 percent fall in Tesla shares on December 27, 2022.
Musk's fortune topped at $340 billion in November 2021. Following this, he was the world's richest person for more than a year at a stretch. He was then overtaken this month by Bernard Arnault, the French business magnate and co-founder of luxury goods powerhouse LVMH.
Tesla's CEO, Musk acquired the social media platform, “Twitter”, for $44 billion on Oct 2022. To help cover his Twitter purchase, Musk sold his significant stake in Tesla and as a result, the electric carmaker is no longer his biggest asset.
In response, Musk told Tesla employees that they should "not be too bothered by stock market craziness.