Elon Musk lost more than 100 billion in 2022

Tesla’s stock market collapse – down 52% this year – is hurting the portfolio of the new boss of social network Twitter, which lost US$100.5 billion in 2022.

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Even if his bank account melts visibly, the co-founder of Tesla remains the richest person in the world, with a fortune of 169.8 billion dollars. But it amounted to more than 340 billion US dollars just over a year ago, making him the first man in history to accumulate so much money.

28 billion US in one month

This month alone, Musk lost $28 billion, according to Forbes.

The electric car manufacturer Tesla represents the bulk of his fortune. However, in China – Tesla’s largest market outside the United States – the new restrictions linked to COVID-19 risk cooling the economy and reducing demand for electric vehicles.

Tesla also announced the recall of more than 300,000 cars due to faulty taillights. The company also faces supply chain issues and soaring raw material costs, according to Bloomberg.

Dismissals at Twitter

In addition to his financial problems, Elon Musk must also struggle to keep the Twitter social network afloat, which he bought for 44 billion US dollars.

After laying off half of Twitter’s employees, Musk now wants to change the company’s culture. Last week he issued an ultimatum to the remaining employees: ‘Those who choose to stay should expect long and intense working hours. Those who leave will receive three months of severance pay,” he wrote in an internal email whose washington post got a copy.

The billionaire seems to have confidence in his plan. On Thursday night, he posted this tweet: “The best employees are staying, so I’m not super worried.”

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