Elon Musk’s wealth has dropped by $8.6 billion in just one day.
Following his purchase of Twitter and the decreasing shares in Tesla, the world’s richest man has lost a significant amount of his net worth this year.
In 2022 alone, Musk’s wealth has decreased by around $100 billion…brining his overall net worth somewhere between $170 billion and $182 billion.
It was at an estimated $340 billion this time last year.
Tesla shares have decreased to a two-year low this week alone, bringing his wealth down by around $8.6 billion in just 24 hours.
The 51-year-old owns around 15% stake in Tesla shares and he sold almost $15.5 billion of his stock in the company to finance the purchase of Twitter.
After Covid-19 restrictions in China and a recall of 300,000 of his vehicles thanks to faults, not to mention the soaring cost of parts and materials…his overall net worth is taking a serious beating.
Must be nice to lose so much and still be worth around $170 BILLION…Poor Musk.