According to the Bloomberg Billionaire Index, Elon Musk, who was previously the richest man on earth, is the first person in history to have lost $200 billion of his net worth.
In 2021, the 51-year-old CEO of Tesla passed Jeff Bezos to become the second person to ever accumulate a wealth exceeding $200 billion.
Musk's fortune has decreased recently as a result of the decline in his electric vehicle company's stock price.
The billionaire's net worth, which peaked at $340 billion in November 2021, has decreased to $137 million as Tesla shares have fallen 65% in value in 2022.
The loss includes an 11% drop on Tuesday alone as a result of Tesla having to temporarily suspend manufacturing due to an increase in COVID instances in Shanghai, China.
Since September 2021, Musk has topped the Forbes list of richest people. However, this month, French entrepreneur Bernard Arnault momentarily overtook Musk as the richest person in the world. Arnault is the owner of LVMH, the parent company of the luxury brand Louis Vuitton.
Late in October, Musk paid $44 billion to purchase Twitter. It seems that, among other things, his fixation with the platform cost Tesla investors dearly, as the company had its worst performance ever throughout the year.
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