Nearly two years after Elon Musk became the second person to ever amass a fortune of over $200 billion, he is now the first person to ever lose $200 billion.
Back in 2022, Elon Musk was at the top of Forbes’ annual billionaires list, beating Amazon president Jeff Bezos, who was the richest person in the world for years.
Elon Musk had become the second person ever to grow his net worth to more than $200 billion, merely months after Jeff Bezos did as well.
Since that, however, Elon Musk has seen a drop of billions from his fortune. Much of this drop is due to the value of shares in Tesla dropping 65%.
Elon Musk had been the richest person in the world until December. He was surpassed by Bernard Arnault, a European fashion mogul.
As a result of Tesla’s shares declining, Musk had to sell so many shares to finance his $44 billion purchase of Twitter that Tesla is no longer his biggest asset. He holds a higher stake in SpaceX than he does Tesla.
Elon Musk has pointed the blame for Tesla’s declining share prices at the Federal Reserve, tweeting: “Tesla is executing better than ever! We don’t control the Federal Reserve. That is the real problem here.”
Elon Musk’s Handling of Twitter Thus Far
Elon Musk has come under intense scrutiny for his handling of Twitter after purchasing the social media company.
He has fired hundreds of employees, suspended journalists, stopped regulating disinformation of things like COVID-19, and has allowed previously banned controversial figures back onto the platform.
Elon Musk claimed that he wanted to bring free speech to Twitter, but many decisions he has made seem to counter that.
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Zainah Yousef
Zainah Yousef is the author of The Fallen Age Saga and specializes in gaming, social media advice, and reviews. She's been writing all her life and she probably won't stop anytime soon.
