The South African billionaire’s fortune is directly backed by the value of Tesla shares, which have hit their lowest level in recent days.
The whimsical billionaire saw part of his fortune disappear. Since the beginning of the year, Elon Musk has lost 100 billion dollars, which is almost equivalent to the valuation of Airbus (92 billion dollars) or even that of General Electric at 95 billion dollars.
The South African’s fortune is mainly based on the shares of his electric car brand, Tesla. They have just fallen to the lowest in two years, at 167.87 dollars, losing 52% of their value since January 2022. On Monday alone, Elon Musk thus lost 8.6 billion dollars, according to the ranking Bloomberg billionaires.
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The acquisition of Twitter also partly explains this decrease. To carry out this operation, Elon Musk had to sell billions of dollars of Tesla shares, thus amputating part of his savings. A little over a year ago, his fortune still peaked at $340 billion. But nothing to worry about, because the entrepreneur remains the richest man in the world, with 169.8 billion dollars, according to Bloomberg.
This tumble also affects other Silicon Valley personalities, such as Jeff Bezos. The Amazon founder and CEO lost $83 billion, pegging his fortune at $109 billion. The same goes for the fortune of Mark Zuckerberg, CEO of the Meta group, which was reduced by $80 billion in 2022. According to Bloomberg, this is explained by the fall in the shares of each of the companies, “due to slowing sales, soaring costs and rising interest rates“.
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