Elon Musk loses $212 billion of his fortune in 13 months
American billionaire Elon Musk lost $9.1 billion of his fortune in one session, after his electric car manufacturer, Tesla, declined by 12.2%, to $108.1.
It amounts to 128 billion dollars
The wealth of “Yelon Musk” decreased to 128 billion dollars, while the market value of Tesla declined to 341.4 billion dollars, according to Al-Eqtisadiah.
The biggest loss in history
After the strong declines in Tesla shares, which exceeded 70% of their value, Musk would have lost $212 billion, compared to the peak of his wealth in November 2021 of $340 billion, or the equivalent of a loss of 62%.
Musk’s loss is the highest for anyone in history to lose more than $200 billion in about 13 months.
Mask keeps his order
Despite this, Musk maintained his rank as the second richest person in the world, after Bernard Arnault, whose fortune is $ 164 billion.
Arno was outperforming Musk during 2022, as the market value of Tesla continued to decline.
Tesla’s stock declined after the company announced lower-than-expected sales during the fourth quarter of 2022, despite achieving record sales, but it reflects expectations of slowing demand and greater prospects for the US economy to face a recession.