The CEO of Tesla and Twitter has made history to become the first man to erase $200 billion from his total net worth.
Elon Musk was the second person ever to amass a personal fortune of more than $200 billion, breaching that threshold in January 2021, months after Jeff Bezos.
Musk 51 has seen his wealth plummeted to $137 billion after Tesla shares tumbled in recent weeks, including an 11% drop on Tuesday according to Bloomberg billionaires index.
The significant decrease in Elon’s net worth is attributed to the fall in $TSLA, highlighting the impact of market fluctuations and public perception on personal financial success.
His fortune peaked at $340 billion in Nov. 4, 2021 and he remained the world’s richest person until he was overtaken this month by Bernard Arnault, the French tycoon behind luxury-goods powerhouse LVMH.
For those wondering why or how Elon Musk lost $200 Billion. It is said that investors became unsure of Elon’s commitment to Tesla as the news of his interest in buying Twitter came to light. This resulted in a down turn in Tesla stocks. Very interesting.
Elon Musk, Jeff Bezos and others are among billionaires whose wealth and net worths are tied to the performance of the stock markets.