Tesla CEO Elon Musk’s fortune suffered major losses this week. The net worth of Musk, who has long held the title of the richest person in the world , fell below $200 billion for the second time this year. According to Forbes and Bloomberg’s estimates, this loss is due to Tesla’s poor performance and Twitter’s valuation.
Elon Musk is losing money
Tesla recently released its quarterly report. However, shares fell after it reported lower-than-expected earnings. This situation caused Musk’s wealth to decrease by more than 40 billion dollars.
Forbes estimated Musk’s net worth at over $250 billion at the beginning of the year. However, according to current figures, his net worth has decreased to 195 billion dollars. Bloomberg’s Billionaires Index also shows that Musk’s wealth has fallen to $193 billion.
TikTok, one of the most popular platforms of the last period, has pressed the button to switch to an ad-free subscription system.
Much of Musk’s wealth is tied to his shares in Tesla. The company’s shares have lost more than 65 percent in value since the beginning of the year, causing major losses in net worth. In addition, Musk’s sale of billions of dollars worth of shares during the Twitter acquisition also led to these situations.
On the other hand, according to new reports, Elon Musk told employees that Twitter’s current value is 19 billion dollars and its share price dropped to 45 dollars. If this claim is true, it means that the platform lost 55 percent of its value after it was sold to the businessman.
Although the decline is notable, Musk is still the richest person in the world, according to estimates from both Forbes and Bloomberg. Right behind Tesla CEO are Bernard Arnault with $177 billion and Jeff Bezos with $155 billion .
So, what do you think about Elon Musk’s wealth? Don’t forget to share your opinions with us in the comments!
