Elon Musk lost a huge fortune in a year – WORLD

Elon Musk lost a huge fortune in a yearAccording to the Bloomberg Billionaires Index, Musk is second only to Bernard Arnault in the list of the richest people in the world with a net worth of $137 billion. Musk’s net worth as of November 2021 was $340 billion. This makes Musk the first person in history to lose his $200 billion fortune. The fall in Tesla shares is shown as the most important reason for the collapse of Elon Musk’s fortune. Tesla shares are down 65% in 2022. Discounts applied to increase interest in Tesla-made electric vehicles also worried investors, and in December 2022, the company’s shares fell by 37 percent. His $44 billion acquisition of Twitter also didn’t help either Tesla stock or Musk’s personal wealth. Musk, Tesla’s largest shareholder, has sold $23 billion worth of Tesla shares since the Twitter acquisition began. Musk, on the other hand, defended himself against criticism, saying he hasn’t missed a major Tesla meeting since taking over Twitter.