Elon Musk’s fortune drops $8.6 billion in one day

Elon Musk lost a lot of money in one day

Elon Musk lost a lot of money in one day
picture: McNamee wins (Getty Images)

CEO TeslaAnd the SpaceX s TwitterElon Musk, witnessed a decrease in his wealth by $ 100 billion this year, bringing his net worth to between $ 170 billion and $ 182 billion, according to estimates from bloomberg s Forbes. That’s down from an estimated $340 billion in November 2021. The decline comes in the form of stocks. Tesla fell to the lowest level for two years this week, dropping Musk’s fortune by nearly $8.6 billion in just one day.

Musk reportedly owns about 15 percent of Tesla shares, which are down 58.03 percent year-to-date, according to bloomberg. He sold nearly $15.5 billion of his Tesla stock to fund Buy Twitter earlier this month.

Tesla accounts for the bulk of Musk’s wealth, but it has faced declining revenues due to its persistence covid-19 restrictions in china And talk Recall 300,000 Tesla cars Due to defective taillights, plus high material costs. His net worth continued to decline after he acquired Twitter for $44 billion, the largest technology company purchase in history.

He was on hold, too Recently pushed The payment package worth about $56 billion that Tesla handed him years ago in court. Richard Tornetta, owner of some Tesla shares, filed a dossier the demand In 2019 Tesla’s board allegedly offered Musk a very generous salary package despite only spending half his time at the electric car maker. his new hobbytweet headIt’s only amplified by claims that it spreads too far.

Despite the setbacks, Musk remains the richest person in the world, overtaking the runner-up, Bernard ArnaultAbout 65 billion dollars. Musk isn’t the only CTO whose net worth has declined this year, as CEO of Meta, Mark Zuckerbergfounder of amazon, Jeff Bezosco-founder of Alphabet, I see the pagehas also suffered major financial setbacks, according to Bloomberg.

See also  6 applications for space exploration from your mobile phone

Leave a Reply

Your email address will not be published.