Popular Billionaire Elon Musk has broken a financial record, he lost $200B since November 2021
The Tesla and Twitter magnate is reportedly the first person in recorded history to lose $200 billion, according to comparisons of his net worth between 2021 and now. Per Bloomberg, Musk’s fortune peaked in November 2021 at an estimated $340 billion.
But now, according to the January 2 Bloomberg Billionaires Index, Musk’s total worth stands at $137B — reflecting more than $200B in lost wealth in just 13 months.
While Musk’s rocky time at the helm of Twitter has generated most of the billionaire’s headlines in late 2022, the majority of his wealth actually comes from his shares of electric vehicle company Tesla, which saw its stock price drop nearly 70% last year, according to CNN Business. Tesla announced on January 2 that it had sold a record 1.3M vehicles in 2022, but that figure fell short of the 1.4M goal Musk had set as a target.
Musk, who is Tesla’s biggest shareholder, has sold approx. $23B worth of Tesla shares since April, when his public pursuit of Twitter began in earnest.