He was the CEO of Tesla, Elon Musk The second person in modern history to accumulate a personal fortune of more than $200 billion, exceeding this limit in January 2021, a few months after this level was crossed by the billionaire founder of Amazon, Jeff Bezos.
But Musk beat Bezos, as the first person in history to lose $200 billion of his net worth.
Elon Musk, 51, witnessed a sharp decline in his wealth to $ 137 billion after Tesla shares plunged in recent weeks, including a decline of 11% on Tuesday, according to the “Bloomberg Billionaires Index”, which was viewed by Al Arabiya. net”.
This is a decrease from his peak wealth of $ 340 billion on November 4, 2021, and he remained the richest person in the world for about two years until he was surpassed in December by Bernard Arnault, the French billionaire and chairman of the luxury goods company LVMH.
Elon Musk’s wealth growth was mainly driven by his stake in Tesla, after the company’s market value exceeded $1 trillion for the first time in October 2021, joining tech giants: Apple, Microsoft, and Amazon.
Recently, however, Tesla’s dominance in the electric car market – the basis of its unique valuation – is in jeopardy as competitors catch up. The company tried to offer American consumers a rare discount of $ 7,500 to receive the two best-selling models before the end of 2022, while reducing production at its Shanghai plant.
Meanwhile, with pressure mounting on Tesla, Elon Musk has been busy structuring Twitter, which he acquired for $44 billion in late October.
The decline in Tesla stock has been so sharp — shares are down 65% in 2022 — and Musk sold so much of his stock in 2022 to help cover the Twitter deal that his Tesla stake is no longer his biggest asset, according to a private wealth index. By Bloomberg.
Elon Musk’s stake in SpaceX, worth $44.8 billion, has become the heaviest weight in his fortune, followed by his stake in Tesla, worth $44 billion, but (he still has options worth about $27.8 billion). Musk now owns 42.2% of SpaceX, according to a recent filing.