Elon Musk is the first person in history to lose $200 billion

According to The New York Post, Elon Musk, billionaire CEO of Twitter, Tesla and SpaceX, has lost $200 billion from his net worth. Never before has anyone lost this much money.
According to The New York Post the decline in his net wealth can be attributed to a 66% drop of Tesla shares over the last year.


The dramatic drop in Tesla shares prices is due to Elon Musk’s diversion. This is due to the Twitter saga and supply-chain constraints in China that were exacerbated by Russia-Ukraine war.
The Wealth Decline of Elon Musk
Forbes’ current list of billionaires ranks Elon Musk second in the real-time wealth rankings. His net worth is $136.9 million. Tesla is 25% of his stock and options ownership. Musk has pledged more that half of his shares to secure loans.
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Twitter’s board made the decision to sell the company to Musk in April 2022, after Musk threatened to take over 9.1% of the company and declared a hostile takeover.
Musk later tried to backtrack, but Twitter sued him. The acquisition was completed in October 2022. Musk currently controls 74% of the company.
Elon’s fortune peaked on November 4, 2021 at $340 billion. He remained the world’s wealthiest person until this month when he was overtaken by Bernard Arnault (the French entrepreneur behind luxury goods company LVMH).
Also, read: Crypto Twitter: 2022 Tweets That Didn’t Age Well
After a 65% drop of Tesla shares in 2022, and a $44 Billion acquisition of Twitter, Musk has no significant assets left.


Tesla announced a price cut in several models following these revelations, including a $7500 discount on Model 3 and Model Y.
Musk, however, has dismissed Tesla’s concerns. He has also frequently used Twitter to blame the Federal Reserve on increasing interest rates.
Also read: Top Crypto Coins to Buy in January 2023 for 10X Returns

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