Musk loses half of his fortune.. Penalty for sex work By Investing.com


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Investing.com – Last November, 2021, Elon Musk’s fortune jumped to $341 billion, the largest and largest fortune in modern history, and before a year passed, that fortune had fallen to $183 billion, meaning it had fallen by more than $158 billion.

According to the Bloomberg Index of the world’s rich, and according to the latest data based on the closing of US stocks at the end of trading on Monday, the American business magnate lost nearly 47% of his wealth in less than a year.

how did that happen?

Tesla (NASDAQ:) investors’ fears that Musk might lose interest in the electric car giant, or sell a portion of the stock to fund the controversial deal, appear to have quickly reversed the fortunes of the world’s richest man.

And during this ongoing controversy, it seems that the penalty came from within the work, after the storm of unprecedented layoffs for Twitter employees, which was acquired by Elon Musk in a deal worth 44 billion dollars, which was reflected in Elon Musk’s wealth.

Mask’s fortune

As a result of these repeated missteps by the Tesla founder and new owner of Twitter, Elon Musk’s fortune fell to its lowest level since August 2021, below the levels of 200 billion.

Elon Musk lost nearly $7 billion at the end of trading yesterday, as Tesla shares fell to their lowest level in more than 17 months, and Elon Musk’s fortune has decreased since the beginning of the year by nearly 33% of the total, or the equivalent of $87 billion.

And last November, when Tesla shares climbed to all-time highs above $1230, Elon Musk’s fortune at the time jumped to $341 billion, meaning that Elon Musk lost, according to the Bloomberg Index of the world’s rich, nearly 47% of his wealth, as it recorded By the end of trading yesterday, levels of $183 billion.

Yesterday, from November 2021 to November 7, 2022, he lost nearly $158 billion, while he still held the first place among the world’s wealthy.

what happened?

Musk was not satisfied with layoffs, but launched a storm of structural changes in the company with the launch of a storm of tweets that came between the addition of blue mark fees and the launch of new services.

Not only this, but the matter extended to the sarcasm of those who reject these amendments from the users of the Twitter platform by calling on them to leave the platform, in addition to explicit support for the Republicans in the midterm elections.

During that time, investors’ fears about Tesla shares spread to fear that Musk would give up interest in it for a new investment account, or even sell a portion of Tesla shares to fund the Twitter deal.

What about Tesla?

Tesla’s stock, which is the main component and mainstay of Elon Musk’s wealth, fell to a 17-month low at the close of Monday’s session, with Elon Musk’s statements, tweets and crises continuing on Twitter.

Tesla’s stock fell 5% at $197.08 at the end of trading, the lowest since June 2021, with a market value of $617.5 billion.

Tesla’s stock has witnessed a decline of more than 12% since Musk announced the implementation of the Twitter purchase deal on the twenty-seventh of last October, compared to stability in the same period and a decline of about 1.9%.

Tesla shares experienced a noticeable selling wave in recent days, after its CEO bought Twitter, the owner of the social networking site, amid concerns about Musk’s focus on the platform at the expense of Tesla’s business.

Musk has written several tweets over the past days focused on plans for Twitter’s business, including charging $8 for the verification tag and efforts to allow long posts to be posted on the platform.

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