How did Elon Musk lose $XNUMX billion?

Elon Musk lost two hundred billion dollars of his fortune in one year

Elon Musk, CEO of Tesla, was the second person in modern history to accumulate a personal fortune of more than $200 billion, surpassing that limit in January 2021, a few months after that level was crossed by the billionaire founder of Amazon, Jeff Bezos.
But Musk beat him, as the first person in history to lose $200 billion of his net worth.

Tesla fell apart

Elon Musk, 51, saw his net worth plummet to $137 billion after Tesla shares plunged in recent weeks, including drop by 11% on Tuesday, according to the “Bloomberg Billionaires Index,” which was reviewed by Al Arabiya.net.

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This is down from its peak of $340 billion on November 4, 2021, and he remained the richest person in the world for about two years until it was overtaken in December by Bernard Arnault, the French billionaire and chairman of luxury goods company LVMH.

How did Elon Musk's wealth grow?

Elon Musk's wealth growth was mainly driven by a stake in Tesla, after the company's market value exceeded $2021 trillion for the first time in October XNUMX, joining tech giants Amazon, Microsoft and Amazon.com.

Recently, however, Tesla's dominance in the electric vehicle market - the basis of its unique valuation - is under threat as competitors catch up. The company has tried to offer US consumers a rare $7500 discount to receive the two best-selling models before the end of the year, while reducing production at its Shanghai plant.
Meanwhile, with pressure mounting on Tesla, Musk has been busy structuring Twitter, which he acquired for $44 billion in late October.

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Twitter only made the mud worse

The drop in Tesla shares has been very sharp - shares are down 65% in 2022 - and Elon Musk sold a lot this year to help cover a deal.TwitterSo much so that his stake in Tesla is no longer his largest asset, according to the Bloomberg Wealth Index. Musk's stake in SpaceX, worth $44.8 billion, became the heaviest weight in his wealth, followed by his stake in Tesla, worth $44 billion, but (he still has options valued at about $27.8 billion). Musk now owns 42.2% of SpaceX, according to a recent filing.