Elon Musk: The First Person In The World To Lose Over $200 Billion

Elon Musk: Elon Musk the founder of Tesla has become the first person in the world to loss over $200 billion, according to a media report. This has happened for the first time in the history that someone lost this worth. The drastic downfall happened this year itself when Elon Musk-owned electric car automaker Tesla’s shares dropped over 11% from its value in the entire year.

Back in November 2021, the tech billionaire once peaked at $340 billion. Ironically, since then, it has seen the continuous downfall.

Musk Be The 2^nd To Earn A Worth Of $200 Billion

According to a report, he was the second person in the history to ever cross the $200 billion mark after Amazon founder Jeff Bezos. Musk achieved this milestone in 202. It was attributed to dramatic surge in the value of Tesla shares. Recently, Bernard Arnault, the owner of LVMH is the richest person in the world after overtaking Elon Musk early this month.

Also Read: Joe Biden outpaces ex-Prez Trump and Obama with judicial nominee aspirants

Musk’s Twitter Deal & Declined Wealth

Musk acquired the social media platform for $44 billion in late October. To help cover his Twitter purchase, Musk sold his significant stake in Tesla. The electric carmaker is no longer his biggest asset.

Elon Musk has repeatedly taken to Twitter to take on the Federal Reserve for raising interest rates at the fastest pace in decades.

Tesla Shareholders lost trust in Elon Musk as they believed Musk to get distracted from the company due to Twitter takeover.

On December 16, Musk took Twitter and wrote, “Tesla is executing better than ever!”  “We don’t control the Federal Reserve. That is the real problem here,” the Tesla founder added

In an official report by Bloomberg cited, a recent Elon Musk appearance in a podcast in which the billionaire business magnate is heard warning against the dangers of borrowed money during a volatile market phase.

“I would really advise people not to have margin debt in a volatile stock market and you know, from a cash standpoint, keep the powder dry,” Musk is cited to have said in the All-In podcast released this month. “You can get some pretty extreme things happening in a down market.”

-Bharat Express