Elon Musk, the CEO of Tesla, is the first person in history to have lost more than USD 200 billion in net worth. The Bloomberg Billionaires Index shows that during the last 13 months, Musk‘s net worth has decreased by USD 208 billion.
This comes following a decline in the price of Tesla shares as well as the selling of shares to pay for the acquisition of Twitter. The acquisition of Twitter by the billionaire was just completed for a price of USD 44 billion.
In January of 2021, Elon Musk‘s net worth surpassed USD 200 billion, surpassing the previous record holder, Jeff Bezos of Amazon, who was the only other person to have accomplished this accomplishment.
By November 2021, Elon Musk had amassed a net worth of USD 340 billion, establishing himself as the wealthiest person on the planet. Later on, he was surpassed in power by Bernard Arnault, the French entrepreneur who was the driving force behind the luxury goods behemoth LVMH.
Bloomberg reports that after losing nearly USD 200 billion, his net worth is now USD 132 billion. Musk is the second wealthiest person behind Bernard Arnault.
Despite suffering a significant setback, Musk has amassed an outstanding collection of automobiles. Purportedly, the 51-year-old has a collection of historic automobiles as well as supercars, which reportedly includes a vintage Ford Model T and a Porsche 911 Turbo.