Business

Elon Musk sets record, losses $200 billion

Published

3 years ago

January 1, 2023

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Current twitter owner and billionaire, Elon Musk, formerly the richest man in the world, has set a new record as the first person in history to lose $200 billion.

According to the Bloomberg Billionaire’s Index, the Tesla founder and Twitter owner lost $200 billion off his net worth thereby taking him down the ladder of richest men in the world.

It was gathered that Musk’s wealth plummeted to $137 billion following the decline in Tesla shares in recent weeks. This includes a massive 11 percent fall in Tesla shares on December 27th.

Tesla is now offering consumers in the United States a $7,500 discount for its two highest-volume models before year-end.

Recall Musk’s fortune topped at $340 billion in November 2021. On account of this, he became the world’s richest person for more than a year at a stretch.

The new Twitter owner has now been overtaken this month by Bernard Arnault, the French business magnate and co-founder of luxury goods powerhouse LVMH.