Elon Musk becomes the first person to lose $200 billion of his fortune

American billionaire Elon Musk has become the first person to lose $200 billion of his fortune, according to the Bloomberg Billionaires Index.

According to the index, the wealth of Musk, CEO of Tesla electric cars, SpaceX for space technology, and the social networking platform Twitter, has now reached $137 billion, after it had reached a peak of $340 billion before it topped the list of the world’s richest people. over a year.

Musk is now the second richest person in the world behind Bernard Arnault, chairman of fashion group LVHM, according to German news agency DPA.

Bloomberg news agency indicated that an essential part of Musk’s wealth is his stake in Tesla, which lost about half of its market value over the past year, after Musk sold a quantity of its shares to finance his $44 billion acquisition of Twitter.

Tesla’s stock was also negatively affected by the disappointing quarterly results due to the continued disruption of production in its factories in Shanghai, China, as a result of measures to combat the emerging “Corona” virus.

Tesla’s shares were traded on April 13 at a price of $340.79, before Musk’s acquisition of Twitter was revealed. Since then, the stock has lost about 60 percent of its value, and is currently priced at less than $125.

Meanwhile, Arnault is currently worth $162 billion, having lost just $15 billion over the past year.

Arnault became the first European person to top Bloomberg’s list of billionaires in the world.


Related Articles:  The Political Battle for Argentina's Presidential Elections: Larreta vs Bullrich vs Milei - Synopsis Survey Results Revealed

Related posts:

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.