Elon Musk becomes the first person in history to lose $200 billion

Tesla, SpaceX and Twitter owner Elon Musk became the first person in human history to lose $200 billion in net worth. His wealth plummeted to $137 billion, according to Bloomberg Billionaire Index.

Musk is also the second richest person in the world as of 2022. Reportedly, Musk’s wealth was affected due to a fall in Tesla shares. On December 27, Tesla shares saw a massive 11 per cent fall.

Musk’s wealth topped $340 billion in November 2021. Between November 2021 and December 2022, Musk lost more than $200 billion. His wealth dipped after Tesla, the electric car maker, lost around 70 per cent of its value in 2022 after production delays in China. Reportedly, Tesla’s market cap was down by nearly $900 billion in 2022.

Related Posts

Musk acquired Twitter for $44 billion in late October 2022. According to media reports, Musk sold the majority of his Tesla shares to buy Twitter. Now, Tesla is no longer Musk’s biggest asset. However, Tesla is still the world’s most valuable car maker company.

After buying the social media platform, Musk took various decisions to establish Twitter 2.0. He introduced a subscription for blue tick, fired many Twitter staff, blocked various Twitter accounts of celebrities and asked many workers to work from the office. 

Musk has repeatedly talked about Federal Reserve on social media for raising interest rates at the fastest pace in decades. In December 2022, Musk wrote on Twitter, “Tesla is executing better than ever! We don’t control the Federal Reserve. That is the real problem here.”

Musk was recently in the limelight for activating 100 Starlinks in the Islamic Republic of Iran. In September 2022, Musk said that SpaceX would provide its satellite internet service in Iran. In 2022, he also sent thousands of Starlink terminals to Ukraine.

Dexter

Recent Posts

Africa and GCC Trade Doubles to $121 Billion

Trade between African and GCC countries stands at $ 121 billion in 2023, double of what it was in 2016.…

December 21, 2024

Families in Mayotte rebuilding their homes complain of lack of help

Family members struggling after one week after  of Cyclone Chido ripped through the French island territory of Mayotte expressed helplessness…

December 21, 2024

Ethiopian PM Inaugurates UAE-Funded Orphanage in Oromia

The United Arab Emirates has launched its orphanage project in Ethiopia's Oromia region on the orders of President Sheikh Mohamed…

December 21, 2024

A Rising Femicide Threat, Kenya’s Call to End Gender Based Violence

In just four months, 100 women have been killed, the majority by males they knew including spouses. Prime Cabinet Secretary…

December 20, 2024

Actor C Confion has passed away

The Ghanaian entertainment industry is in deep mourning following the sudden death of Bright Owusu, better known as C Confion.…

December 20, 2024

South Africa: 512 Accident Deaths and 941 Arrested for Drunk Driving Just on December Month

Since the beginning of December more than five hundred people have lost their lives on the nation's highways. Barbara Creecy,…

December 19, 2024

This website uses cookies.