Elon Musk, the Chief Executive Officer of Tesla Inc., has lost $200 billion in net worth following the recent decline in the company’s stock. In January 2021, he became the second person in history to earn a personal wealth of more than $200 billion, months after Jeff Bezos did so. Now he sets a bizarre record to become the first person to lose such a huge amount.
According to the Bloomberg Billionaires Index, Musk’s net worth has decreased to $137 billion as a result of recent declines in Tesla stock, including an 11% loss on last 10 January.
According to Bloomberg’s wealth index, Musk’s greatest asset is no longer Tesla shares because of the company’s rapid slide since they plunged 65% in 2022 and the amount Musk sold this year to help pay for his Twitter acquisition. Musk still has options worth an estimated $27.8 billion, so his holding in his closely held Space Exploration Technologies Corp. is worth $44.8 billion, which is more than his roughly $44 billion position in Tesla shares. According to a recent filing, Musk currently controls 42.2% of SpaceX.
However, Elon Musk is not concerned about Tesla. The Federal Reserve has raised interest rates at the quickest rate in a generation, and the billionaire has often criticized the Fed for this action over Twitter, which he acquired for $44 billion in late October.