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The rise and fall of Elon Musk / How the richest man in the world managed to lose 200 billion dollars

2022-12-31 20:09:00, Lifestyle CNA

The rise and fall of Elon Musk / How the richest man in the world managed to

Elon Musk, in January 2021, was announced as the second richest person in the world with a fortune that exceeded 200 billion dollars, while Jeff Bezos ranked first. 

But apparently he could not hold the throne for long.

In December 2022, Musk became the first and only person to date to lose at least $200 billion.

His fortune has continued to fall to $137 billion, while Tesla's shares have continued to fall as much as 70% over the past 12 months.

As of November 2021, Elon Musk's bank account contained $340 billion. 

 In just 13 months, he lost 203 billion dollars in assets, which cost him the title of one of the richest people in the world. 

The drop in his earnings comes directly from the shock that Tesla shares have suffered in 2022, with its market capitalization shrinking by at least $600 billion.

While Musk had to control the investment he was making, he bought Twitter for $400 billion in October. 

The American billionaire, to finance the purchase in question, sold Tesla shares, in which he now controls only 13.4%, which brought light to the markets and intensified the liquidations./ CNA.al





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