Elon Musk was one of the richest people in the world for years, but he began to rapidly multiply his wealth only during the coronavirus pandemic. In January 2021, he raised $200 billion, not long after Jeff Bezos did. In October, he overtook the founder of Amazon to become the richest man in the world.
According to , Elon Musk had the greatest wealth on November 4, 2021, when his assets totaled USD 340 billion (at today’s exchange rate, it is almost PLN 1.5 trillion). However, this fortune quickly melted away.
Elon Musk is the first person to spend $200 billion
Elon Musk lost his place at the top of the ranking of the richest people in the world on December 13, 2022, when he was overtaken by Frenchman Bernard Arnault with his family, the richest European and the owner of the LVMH concern. The main reason for the change of leader was the fall in the value of Tesla shares.
Now Musk has achieved another historic feat, although he will probably not be proud of this achievement. According to Bloomberg, the founder of Tesla and SpaceX is the first person in the world to lose at least $200 billion. Musk’s fortune is now worth $137 billion after Tesla’s stock plunged again in recent weeks.
Today, for each share of the American automaker, you pay $123, or 26.73 percent. less than a week ago. Over the last quarter, Tesla’s value fell by 53.56 percent, and over the course of the year by 65.47 percent.
In parallel with the decline in the value of his company, Musk was selling his shares in it. Mainly to be able to finalize the purchase of Twitter for 44 billion dollars (the sale of shares was not the only source of financing the transaction, however). Thus, the massive sale of shares by Musk also contributed to the significant decline in Tesla’s value, although he himself claims that the company is doing great.
The billionaire sold so many Tesla shares in 2022 that they are no longer the biggest source of his fortune. Currently, Musk has about $44 billion in Tesla shares and another $44.8 billion in shares in SpaceX, of which he is the largest shareholder (42.2 percent). However, the billionaire still has options to buy more Tesla shares with a market value of $27.8 billion.
Currently, the leader in the ranking remains Bernard Arnault with his family ($ 181.2 billion). Elon Musk remains in second place ($146.5 billion). The podium is closed by Indian billionaire Gautam Adani ($126.8 billion), founder and president of the Adani Group conglomerate, one of the three largest companies in India. In fourth and fifth place were Warren Buffett ($107.6 billion) and Jeff Bezos ($107.3 billion), respectively.
Source: Gazeta
Ricardo is a renowned author and journalist, known for his exceptional writing on top-news stories. He currently works as a writer at the 247 News Agency, where he is known for his ability to deliver breaking news and insightful analysis on the most pressing issues of the day.
