Elon Musk has lost over $140B in the last four months
With Tesla's share price falling for the fourth day in a row, Elon Musk's wealth dropped to $198.6 billion from a high of $340.4 billion on November 4.
Thursday February 24, 2022,
2 min Read
It's been a rough few weeks for the markets across the world, and American tech stocks are no different. Four straight days of falling share prices forhas meant that the world no longer has a $200 billion man anymore.
Elon Musk's fortune now stands at a paltry $198.6 billion according to the Bloomberg Billionaire's Index. It's still enough to maintain his position as the richest man in the world overfounder Jeff Bezos, but it is a far cry from the $340.4 billion that the founder was worth on November 4, 2021.
Soon after hitting that number, Musk found himself in hot water with the Securities and Exchange Commission (SEC), America's financial regulatory authority, for conducting a Twitter poll asking if he should sell part of his stake in the company. Predictably, this led to a massive sell-off among retail investors as Tesla's value dropped by $35 billion in a day!
Soon after, Musk sold shares worth more than $16 billion and donated $5.7 billion of stock to charity.
Bezos remains the only other person to have cracked the $200 billion mark, having reached there last April. His price fluctuated around the number for most of last year, but then dropped below for good in December. As of today, Bezos is the second richest man in the world with a worth of $169 billion.
Edited by Megha Reddy