He was the CEO of Tesla, Elon Musk The second person in modern history to amass a personal fortune of more than $200 billion, surpassing this mark in January 2021, just months after this mark was surpassed by billionaire Amazon founder Jeff Bezos.
But Musk beat out Bezos by being the first person in history to lose $200 billion of his net worth!
Elon Musk, 51, has seen a steep drop in his wealth to $137 billion after Tesla shares tumbled in recent weeks, including an 11% drop on Tuesday, according to the ‘Bloomberg Billionaires Index’, which is been seen by Al Arabiya.net”.
That’s a decrease from his peak wealth of $340 billion on Nov. 4, 2021, and he remained the richest person in the world for about two years until surpassed in December by Bernard Arnault, the French billionaire and president of the luxury goods company LVMH.
Elon Musk’s wealth growth has been driven primarily by his stake in Tesla, after the company’s market value surpassed $1 trillion for the first time in October 2021, joining tech giants Amazon, Microsoft and Amazon.
Recently, however, Tesla’s dominance in the electric car market — the basis of its unique valuation — is in jeopardy as competitors are catching up. The company has sought to offer American consumers a rare $7,500 discount to receive the two best-selling models by the end of 2022, while reducing production at its Shanghai plant.
Meanwhile, as pressure on Tesla mounts, Elon Musk has been busy structuring Twitter, which he acquired for $44 billion in late October.
The drop in Tesla stock has been so steep — shares are down 65% in 2022 — and Musk sold so many of his shares in 2022 to cover the Twitter deal that his share of Tesla is no longer his largest resource, according to a private wealth index from Bloomberg.
Elon Musk’s $44.8 billion stake in SpaceX has become the heaviest weight of his fortune, followed by his $44 billion stake in Tesla, but (he still has options worth $ 27.8 billion). Musk now owns 42.2% of SpaceX, according to a recent filing.
