American billionaire Elon Musk lost more than $ 11 billion in the first week of the new year, continuing his strong losses, with the decline in Tesla shares.
According to the Bloomberg Billionaires Index, Musk’s wealth declined to about $126 billion, by the end of Friday’s session, ranking second in the list of the world’s richest people after the French, Bernard Arnault, whose net worth is $175 billion.
Elon Musk’s wealth peaked in November 2021, at $ 338 billion. He became the first person in history to lose $200 billion of his wealth in one year.
The fortune of Musk, who heads Tesla, SpaceX and Twitter, was damaged after a significant decline in the shares of the electric car company by up to 65 percent in the past year, amid concern about the demand for its products in light of fears of an economic recession. And raising the interest, in addition to the clamor that accompanied the acquisition of “Twitter”.
Tesla sales rose by about 1.3 million electric vehicles in 2022, a record high of 40 percent, compared to the previous year, but lower than Musk’s expectations, who set a goal of raising the company’s sales by 50 percent annually in the long term.