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HomeBusinessElon Musk Loses $140 Billion in 2022, Tesla Shares Crash 68%

Elon Musk Loses $140 Billion in 2022, Tesla Shares Crash 68%

Elon Musk lost $140 billion in 2022 Tesla shares, according to the Bloomberg Billionaires Index.

Despite the sharp drop, Musk’s $130 billion net worth still makes him the second richest person in the world, as of Dec. 28. First place goes to tycoon Bernard Arnault, co-founder and CEO of LVMH. His fortune is estimated at 163 billion dollars. Third place in the ranking is occupied by Indian businessman Gautam Adani with $116 billion.

Analysts predict that by the end of the year, the total loss of Elon Musk’s fortune will be about $ 140 billion, as Tesla shares continue to fall in price.

At the beginning of this, Musk was confidently leading the list of billionaires, but the 68% drop in Tesla shares since the beginning of the year has taken its toll. Since Musk completed the $44 billion acquisition of Twitter in late October, Tesla shares have fallen 50% compared to the Nasdaq 100’s drop of just 3%. Musk also sold billions of dollars worth of Tesla stock to fund the acquisition of Twitter.

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Musk’s stake in SpaceX is now his most valuable asset, worth $47 billion, according to Bloomberg. Meanwhile, according to Bloomberg, Musk’s stake in Tesla is about $40 billion, and his options in Tesla are worth another $28 billion.

The next most valuable asset owned by Musk is Twitter, which Bloomberg estimates is worth $20 billion.

Finally, Bloomberg valued Musk’s stake in The Boring Company at $3.3 billion.

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