Elon Musk ‘s wealth is being affected by the fall in Tesla shares, which have plummeted 41% this 2022.
Elon Musk is witness to how his money is ‘vanishing’: only this Tuesday he fell 5.4% due to the fall in shares of his company Tesla .
According to Bloomberg , Elon Musk has seen his net worth fall to $193 billion as his electric car company drops by about $10 billion a day .
Despite the sharp drop, Elon Musk is still the richest man in the world, with a difference of 65 billion dollars compared to Jeff Bezos, his “rival” .
Tesla continues to fall
The main person responsible for the fall of Musk’s money is Tesla, a company that has seen its shares decline by up to 41% since the beginning of the year.
Beyond the global context that affects technology companies, the announcement of the purchase of Twitter by Elon Musk greatly harmed Tesla, mainly due to doubts in raising the money for the transaction (Musk was expected to sell his shares to have “cash ” ) and because his indecision has paused the process until the issue of bots in the social network is clarified .
Likewise, the sexual accusation made by a stewardess towards the millionaire prompted the crash.
Out of the 200 billion club
Musk has already dropped out of the $200bn club twice this year, once in February and then again in March. Stock market rallies pushed it back above that threshold both times.
His net worth is the lowest since last August, according to the Bloomberg Billionaires Index. He has lost just under $78 billion this year.