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

Elon Musk closes the year in red due to the sharp fall in Tesla shares .

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Elon Musk has become the first person in history to lose $200 billion, Bloomberg reports .

According to his billionaire index, Musk’s net worth fell from 340 billion dollars in November 2021 to 146 million today, below even the richest man at the moment, Bernard Arnault, president of LVMH, with 179 billion dollars .

Tesla fall

Elon Musk ‘s great net worth is mainly due to his shares in Tesla , but this company has had a 2022 to forget.

Since the start of the year, Tesla shares have fallen 73%, ranking fifth in worst-performing financial assets in the S&P 500 stock index.

Just this week they fell a further 11% when a Reuters report came in that Tesla wanted to cut back on electric car manufacturing in Shanghai temporarily.

However, the strongest blow was dealt by Elon Musk himself , who even sold part of his holding in order to buy Twitter for 44 billion dollars. Investors believe that the tycoon has stopped being interested in the manufacturer to give all his impetus to the social network, which he even handles with great controversy .

he does not give credit

Musk believes that much of the responsibility for his annual losses is from the historic interest rate hikes decreed by the Federal Reserve. ” Tesla is running better than ever!” he wrote on Twitter on December 16. “We don’t control the Federal Reserve. That’s the real problem here.”