According to media sources, tech entrepreneur Elon Musk became the first person in history to lose more than $200 billion in value. The abrupt decline occurred this year when shares of Tesla, controlled by Elon Musk, fell by more than 11% from their value for the whole year.
Musk’s net worth previously reached its high in November 2021 at 340 billion. Since then, it has continued to decline.It should be emphasised that, after Amazon founder Jeff Bezos, he was the second individual in history to ever surpass the $200 billion threshold. Musk reached this milestone in 2021, which was made possible by a sharp increase in the price of Tesla stock.
Source:WIBCAfter passing Elon Musk earlier this month, Bernard Arnault, the owner of LVMH, is now the richest person in the world.Elon Musk paid a staggering $44 billion to purchase the well-known microblogging service Twitter this year. Since Elon Musk first suggested the transaction at the beginning of this year, the Twitter controversy has dragged on for the entire year.Finally, under legal pressure, he was forced to seal the agreement by the end of October.Tesla shareholders lost faith in Elon Musk because they thought he would get preoccupied with Twitter and become disengaged from the firm.Share your thoughts with us in the comments.
Elon Musk sets a Guinness World Record for having lost the most money ever
By tirupatinews
