The American billionaire and entrepreneur has become the first person in history to lose such a fortune in such a short time, according to the Bloomberg ranking.
The hectic news around Elon Musk is to his detriment. Already head of the car manufacturer Tesla and the astronautics company SpaceX, the billionaire bought Twitter just over two months ago. While the past year has been tumultuous for Elon Musk, according to Bloomberg, the latter saw his fortune drop to $137 billion by the end of 2022. A year earlier, his capital was estimated at 340 billion dollars. This is a decrease of DKK 203 billion. His previous fortune made him the first or second richest man in the world, in regular competition with Jeff Bezos, the head of Amazon. If the American media is based on a daily ranking of the 500 richest people in the world, how can such a decline be explained?
First, Tesla’s stock market pullback obviously has something to do with it. The automaker lost two-thirds of its value by 2022. A 65% drop on Wall Street, costing Elon Musk $133 billion. in the question? The uncertainties surrounding the sale of electric cars, but also his erratic management at the head of Twitter for a few weeks. Which worries many Tesla investors. On Tuesday, December 27, the stock also fell 11% after a mocking message from the entrepreneur. While the automaker has increased its deliveries by 45% by 2022, this remains below the long-term target: a 50% increase in sales per year. Likewise, if Tesla still dominates the sector after having 65% of the market share in the first nine months of the year, it is less than in 2020, when the company accumulated 79%.
The takeover of Twitter, first registered in April and then finally completed in October, also cost Elon Musk $44 billion. Which forced him to sell $39 billion worth of Tesla shares since November 2021. To complete the transaction, Elon Musk finally brought in $27 billion from his own pocket.