Elon Musk becomes the first person to see his fortune melt away by $200 billion

According to Bloomberg, the fortune of Tesla’s boss is estimated at 137 billion dollars against 340 billion at the end of 2021.

A dizzying fall. According to the ranking compiled by Bloomberg, a few days ago Elon Musk became the first person in history to see his fortune melt by $200 billion.

In January 2021, however, Tesla’s eccentric boss became, a few months after Jeff Bezos, the second personality to amass a fortune of more than $200 billion. His wealth even peaked at $340 billion in November 2021, affording him the symbolic title of the 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 head of LVMH. Thus, in 2022 alone, the founder of SpaceX lost $133 billion, mainly due to the fall in Tesla stock, which saw its value collapse by 65% ​​in 2022.

“Tesla works better than ever!”

This tumbling is explained by the rise of competitors who are increasingly threatening Tesla in the electric car market. It also illustrates investors’ concerns about seeing Elon Musk turn away from the manufacturer in favor of Twitter, which he bought last October. The entrepreneur has also sold more than $39 billion in Tesla shares since November 2021, the bulk of which has been intended for the takeover of the social network for $44 billion, including $27 billion in personal contribution.

However, Elon Musk dismissed concerns about Tesla, preferring to point the finger at the Fed’s actions, which have multiplied interest rate hikes in recent months: “Tesla is doing better than ever! We don’t control the Federal Reserve. That’s the real problem here,” he tweeted in the middle of December.

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