Elon Musk Loses Over $120 Billion

According to Bloomberg, Elon Musk’s net wealth has dropped by 124 million USD since 2020. This is his lowest net worth since 2020, and his total net worth currently stands at 148 billion US dollars. His net worth dropped by 8 billion dollars alone on Tuesday as Tesla shares fell.

The firm’s share fell by 12% over the past week and, overall, 61% since January 2022. Bloomberg’s estimates show that this is the first time his net worth has fallen since 2020. His wealth began to increase at the time of the pandemic outbreak.

His wealth reached a staggering 340 billion dollars by November 2021. Musk’s wealth was already down to 270 Billion USD by January 2021.

Elon Musk’s position as the world’s wealthiest person was also lost last week when Bernard Arnault took his place. Musk blames falling shares on the rising interest rate. Others argue that Musk has been too busy tweeting.

KoGuan Leo, Tesla’s third-largest share holder, tweeted about Tesla losing its CEO after Musk abandoned Tesla. He also called for Musk to resign from Tesla. Musk’s main source of income is Tesla stock. Tesla does not pay Musk a salary.

However, stock options can be granted to Musk if the company achieves high-performance goals. Elon Musk bought Twitter in 2014 for 44 billion dollars and assumed the CEO role. A poll was conducted to determine if he should resign as head of the microblogging platform.

He was surprised at the results. The majority of respondents said yes. Musk is also Space X’s CEO. Musk also co-founded or co-founded Neuralink and The Boring Company. He was also the founder and CEO of PayPal, formerly X.com.

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