Tesla CEO Elon Musk’s Net Worth Drops Below Key Milestone
Shares in Tesla fell for the fourth day in a row to their lowest level since September amid a broad decline in global stock markets, largely due to geopolitical tensions surrounding Russia and Ukraine.
According to the Bloomberg Billionaires Index, Tesla’s CEO remains the wealthiest person in the world. Nonetheless, Musk has seen $71.7 billion wiped off of his fortune so far this year.
Musk saw his wealth peak in early November when it reached $340.4 billion as Tesla shares hit a record high. However, days later, Musk asked his Twitter followers whether he should sell part of his stake in the company, triggering a sudden decline in Tesla’s stock that wiped $35 billion from the CEO’s net worth in just one day.
Amazon founder Jeff Bezos is the only other person in the world whose net wealth has ever exceeded the $200 billion mark. Bezos first surpassed the milestone in August 2020.