LONPDN (Bloomberg) - Elon Musk has become the first person ever to lose $200 billion from his net worth.
The 51-year-old’s fortune peaked at $340 billion in November 2021 and he remained the world’s richest person until Bernard Arnault overtook him earlier this month.
His net worth now stands at $137 billion. His fortune declined as Tesla shares plummeted this year.
Now Tesla’s dominance in electric cars, the foundation of its lofty valuation, is in jeopardy as competitors catch up.
Meanwhile, with pressure on Tesla intensifying, Musk has been preoccupied with Twitter, which he acquired for $44 billion in late October.