The Billionaire Elon Musk Who Lost Billions!


Elon Musk has faced “the biggest loss of personal wealth in history”. Shares of Tesla (TSLA) are trading down 0.77% in the reporting period.

Elon Musk, CEO of Tesla Inc. on Twitter, fell from first to become the second richest person in the world. Its staggering loss of more than $200 billion in one year was recorded in the Guinness World Records as “the largest loss of personal wealth in history.”

According to Forbes magazine, Musk’s current net worth is more than $143 billion. Bernard Arnault, chairman of the French luxury fashion giant LVMH, is ahead of Elon Musk as the richest person in the world, with a net worth of more than $200 billion.

According to the data, Indian billionaire Gautam Adani, the founder of the Adani Group, and Amazon CEO Jeff Bezos take the third and fourth positions respectively. After them, the 92-year-old “Oracle of Omaha” Warren Buffet listed the fifth, Oracle Corp. Sixth CEO Larry Ellison and seventh Microsoft co-founder Bill Gates. Meta CEO Mark Zuckerberg ranks 25th on the list.

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Elon Musk – a Useless Billionaire?

Elon Musk leads famous companies like – Tesla, SpaceX, The Boring Company, Neuralink and Twitter. In addition, OpenAI, the parent company of ChatGPT, is also one of the companies Musk created in 2015. By the end of 2020, his empire had grown and his economic value had skyrocketed. By 2021, its value has reached $320 billion.

Of course Elon Musk is an influential person who raises the bar every time through his plans and actions. In the crypto community, the relationship with Dogecoin is always in the news. Several examples show the effect Dogefather’s tweets had on the price of DOGE.

Musk’s recent “Twitter Resign Poll” resulted in a noticeable decline in DOGE. This technologist has also been involved in various industries. But above all, his stake in Tesla (TSLA) is key. After it took over Twitter in October, TSLA’s shares lost ground. Notably, TSLA has fallen nearly 44.8% over the past three months. Recently, Musk said that he will suspend the sale of his TSLA shares for 2 years. Less focus on the electric car leader has Tesla members worried. 2022 is not a good year for some billionaires.

According to Forbes magazine, at the end of 2022, the number of billionaires in the world increased from 2671 to 2523. One of the billionaires who died was former FTX CEO Sam Bankman-Fried. Some analysts and locals doubt that Elon Musk will return to the top because of his declining fortunes.

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