A dizzying fall. According to the ranking prepared by Bloomberg, Elon Musk a few days ago became the first person in history to see his fortune melt by 200,000 million dollars.
In January 2021, however, the eccentric head of Tesla became, a few months after Jeff Bezos, the second personality to amass a fortune of more than 200 billion dollars. His wealth even reached 340,000 million dollars in November 2021, which allowed him to hold the symbolic title of richest man in the world for several months, before being dethroned by Bernard Arnault a few weeks ago.
In fact, Elon Musk’s fortune is now estimated at $137 billion, compared to $162 billion for the LVMH boss. In 2022 alone, the SpaceX founder lost $133 billion, in particular due to the fall in Tesla shares, whose value collapsed by 65% in 2022.
“Tesla works better than ever!”
This drop is explained by the emergence of competitors that increasingly threaten Tesla in the electric vehicle market. It also illustrates investor concern at seeing Elon Musk walk away from the maker in favor of Twitter, which he acquired last October. The businessman has also sold more than $39 billion worth of Tesla stock since November 2021, most of it earmarked for the $44 billion acquisition of the social network, including $27 billion in personal contributions.
Elon Musk, however, dismissed concerns around Tesla, preferring to point his finger at the Fed’s action that has multiplied rate hikes in recent months: “Tesla is doing better than ever! We don’t control the Federal Reserve It’s the real problem here,” he tweeted in mid-December.
Source: BFM TV
