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It’s been a wild road for Elon Musk. In January 2021, he became the second person to reach a $200 billion valuation, followed by his signature company, Tesla, after his company, Tesla, reached a market cap of $1 trillion. We’ve seen his $200 billion erased from his net worth.
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No need to set up GoFundMe. As the owner of Twitter and his CEO of Tesla, it’s unlikely he’ll run out of money. Yet, according to Bloomberg, he’s stranded astride a big-money bonfire because his Twitter purchase may have ruined his Tesla fortune.
Bloomberg also has:
The 51-year-old Musk’s fortune plummeted to $137 billion after Tesla shares plunged in recent weeks, including an 11% drop on Tuesday, according to the Bloomberg Billionaires Index. His fortune peaked at his $340 billion on Nov. 4, 2021, making him the world’s richest man until this month, when he was overtaken by Bernard Arnault, the French mogul behind luxury goods powerhouse LVMH. remained the richest man.
Tesla has been synonymous with EVs for years. Since Musk acquired his Twitter, Tesla’s dominance, especially in branding and market share, has waned. Investor concerns have caused the stock to fall 65% in 2022.
Bloomberg says that Musk’s most important asset is now Space Exploration Technologies Corp., in addition to his 42.2% stake in SpaceX, as he has sold most of his Tesla stake.
Elon Musk isn’t too concerned. Tweet Statements like “Tesla is doing better than ever!” until Dec. 16, when the EV company’s stock price was $150 a share.
As of January 3, 2023, Tesla shares — which sold for $383.20 on January 4, 2022 — have fallen to $108.10.
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