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Elon Musk, CEO of Tesla, Twitter and SpaceX, has lost about $200 billion in about 13 months amid a severe stock market correction, according to a new report.
According to Bloomberg reportMusk’s net worth, which peaked at $340 billion in November 2021, is now down to $137 billion, making him the only person in history to lose $200 billion from his net worth. .
Musk is now the second richest person in the world after losing the top spot he held since September 2021. Frenchman Bernard his Arnault, his CEO of luxury goods giant LVMH, which owns luxury brands such as Bvlgari, Christian Dior and Tag Heuer, said:richest person in the world now net worth $162 billion.
According to Bloomberg, Tesla was responsible for most of Musk’s wealth, but a fall in its share price has now made SpaceX the billionaire’s biggest asset. Bloomberg estimates that Musk’s SpaceX stake is currently worth $44.8 billion, while Tesla’s stake is valued at around $44 billion. From November 2021 to December 2022, Tesla’s stock has fallen more than 70% of his.
In addition to Tesla’s decline, Musk sold most of his stake in the electric car maker in 2022 and bought Twitter for $44 billion.
Musk’s acquisition of the microblogging platform in October 2022 coincided with a temporary rally in leading meme token Dogecoin (DOGE). Last month, the world’s second-richest person said it would be “easy” for Twitter to add crypto payments as a feature.
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