Elon Musk becomes first person in human History to lose $200 Billion
Elon Musk has become the only person in human history to lose a net worth of $200 billion, according to the Bloomberg Billionaires Index. He became the second person to have a “personal fortune” of over $200 billion, reaching in January 2021, after Amazon’s Jeff Bezos. Elon Musk’s fortune plummeted to $137 billion after Tesla’s stock plummeted in recent weeks. This includes Tesla shares dropping a whopping 11% below him on December 27.
Tesla is now offering US consumers a $7,500 rebate on two top-selling models through the end of the year. It has also reportedly cut production at its Shanghai plant. Musk’s net worth reached $340 billion in November 2021. After that, he was the richest person in the world for months to more than a year. And this month he was overtaken by Bernard Arnault, French businessman and co-founder of luxury goods group LVMH.
Elon Musk has taken to Twitter repeatedly to challenge the Federal Reserve, which has raised interest rates at the fastest pace in decades. “Tesla is doing better than ever,” Musk wrote on Twitter on December 16. That’s the real issue here.” Tesla Shareholders lost trust in Elon Musk as they believed Musk to get distracted from the company due to Twitter takeover.
