Elon Musk Is Still the World's Richest Man Despite Losing $100 Billion in 2022

Video Credit: Wibbitz Top Stories

Published on November 22, 2022 - Duration: 01:31s

Elon Musk Is Still the World's Richest Man Despite Losing $100 Billion in 2022

Elon Musk Is Still , the World's Richest Man Despite, Losing $100 Billion in 2022.

Business Insider reports that billionaire Elon Musk has lost about $100 billion this year, the largest one year drop ever reported by the Bloomberg Billionaires Index.

Business Insider reports that billionaire Elon Musk has lost about $100 billion this year, the largest one year drop ever reported by the Bloomberg Billionaires Index.

The Tesla, SpaceX and now Twitter CEO's net worth reached its lowest point in 2022 on November 22.

The Tesla, SpaceX and now Twitter CEO's net worth reached its lowest point in 2022 on November 22.

Musk's net worth, which peaked at $340 billion last November, dropped to around $170 billion.

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The plunge was reportedly caused by Tesla shares falling to a two-year low on November 21.

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Musk's 15% stake in Tesla means that the billionaire lost about $8.6 billion in just one day as those stocks declined.

So far in 2022, Tesla stocks have dropped about 58.03%.

Despite the losses, Musk remains the world's richest individual.

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Musk's net worth eclipses that of LVMH Moet Hennessy Louis Vuitton CEO Bernarn Arnault, Amazon founder Jeff Bezos and Microsoft co-founder Bill Gates.

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Musk's net worth eclipses that of LVMH Moet Hennessy Louis Vuitton CEO Bernarn Arnault, Amazon founder Jeff Bezos and Microsoft co-founder Bill Gates.

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Musk's net worth eclipses that of LVMH Moet Hennessy Louis Vuitton CEO Bernarn Arnault, Amazon founder Jeff Bezos and Microsoft co-founder Bill Gates.

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Business Insider reports that Tesla stocks have faced broad tech market selloffs amid fears of an economic downturn and aggressive rate hikes by the Federal Reserve.

Business Insider reports that Tesla stocks have faced broad tech market selloffs amid fears of an economic downturn and aggressive rate hikes by the Federal Reserve.

Additional concerns that have driven down the value of Tesla stocks are China's zero-COVID policies and Musk's recent high-profile takeover of Twitter.

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Additional concerns that have driven down the value of Tesla stocks are China's zero-COVID policies and Musk's recent high-profile takeover of Twitter.

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