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Elon Musk lost $200 billion after buying Twitter

Twitter News: Twitter’s new chief Elon Musk has lost about $ 200 billion. Bloomberg has reported that he has become the first person in history to lose such a huge amount. Musk was the second person after Jeff Bezos with a personal fortune of over $200 billion. Interestingly, in January 2021, Musk reached the top position of billionaires. The decline in Tesla shares contributed to the decline in Musk’s wealth.

Musk’s net worth decreased from $ 338 billion to $ 132 billion

According to a Bloomberg report, in November 2021, Musk’s shares had reached a peak of 340 billion. However, they have not made any profit since then. Musk used to top the Bloomberg Billionaires Index, but has since been overtaken by LVMH CEO Bernard Arnault. Musk’s net worth was earlier $ 338 billion, which has now come down to $ 132 billion. Twitter was bought by Musk in a $44 billion deal, but Tesla shares fell shortly thereafter. “Don’t get too bogged down by the craziness of the stock market,” Musk was quoted as saying by Reuters.

Twitter’s future has been in jeopardy ever since Musk took over the company. He fired top executives including CEO Parag Agarwal, CFO New Sehgal and policy chief Vijaya Gadde. After which Musk also fired about 50 percent of his employees.

In other news, Musk is set to step down as CEO of Tesla and Twitter. They have found a new CEO for Tesla but are still looking for a new Twitter CEO. Musk has previously said that he does not want to be CEO of any of his companies. Musk held a vote on Twitter to know whether he should step down as CEO of Twitter. As everyone knew, polls suggested he should resign. In a separate tweet, Musk also said he would step down as CEO of Twitter only if he finds someone who is good enough to take on the role.

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