Elon Musk lost over $100 billion in one year according to Forbes

The richest man in the world would have lost a third of his fortune since November 2021

Tesla CEO Elon Musk has lost more than $100 billion in less than a year, Forbes magazine reported on Friday.

Musk’s fortune plummeted nearly 35% from $320.3 billion on Nov. 4 to $209.4 billion on Thursday, largely due to a sharp drop in Tesla’s stock price, a report said. explained Forbes, citing his calculations. This month alone, Musk’s fortune fell by $28 billion, the magazine added.

« He sells high-priced cars, so a recession won’t be good for his business, » Matt Maley, chief market strategist at investment advisory firm Miller Tabak + Co., said in an email to the magazine.

READ MORE: Musk could lay off 75% of Twitter staff – media

Musk’s controversial plans to buy Twitter and sell Tesla stock to do so are discouraging investors who believe he is acting irresponsibly and paying too much, Forbes adds.

Don’t worry, though, he’s still the richest person in the world.

For more stories on economics and finance, visit RT’s business section


Back to top button