Elon Musk becomes the first person in the world to lose 200 billion dollars

Elon Musk keeps falling from its pedestal. In early December, after more than a year spent with the status of the richest man in the world, he was overtaken by Bernard Arnault, CEO of the LVMH group, due to a sudden drop in his assets. The fortunes of the boss of SpaceX, Tesla and Twitter have suffered a sharp decline in recent weeks, up 11% on a single day last Tuesday, according to Bloomberg. The fall in the shares of the car manufacturer Tesla is believed to be behind the rumble. Elon Musk is illustrated by an unglamorous achievement: He became the first person in the world to lose 200 billion dollars. He ended 2022 with an estimated fortune of $137 billion, up from $340 billion at the end of 2021.

Back to November 2021, a happy month for Elon Musk: the billionaire becomes the second person (after Jeff Bezos, the head of Amazon), to amass a fortune of $200 billion. What happened in the meantime? Already the economic recovery after Covid. Experts partly attribute the decline in the value of Tesla shares to the return of competition in the auto market. Then there was Twitter. In April 2022, Elon Musk became the new owner of the platform after a $44 billion acquisition. More than $39 billion of Tesla stock was reportedly sold to contribute to this purchase, in addition to $27 billion straight out of Elon Musk’s pocket. The result is that the value of Tesla fell by 65% ​​in 2022, according to Bloomberg.

In fact, the company multiplies the alarming movements on its financial health. At the end of the year, American buyers in particular could benefit from a discount of $7,500 on certain models. Production would even have been reduced at the factory in Shanghai. At the same time, always very busy multiplying the provocations on Twitter, Elon Musk is causing concern among investors who are trembling to see him pay more attention to the blue bird than to his latest cars.

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