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HomeBusinessElon Musk's wealth will drop by $100 billion in 2022 GTN News

Elon Musk’s wealth will drop by $100 billion in 2022 GTN News

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Photo by Elon Musk/AFP
Photo by Elon Musk/AFP

Tesla and SpaceX founder Elon Musk lost $100 billion in the 11 months to 2022.

According to a report by Bloomberg, the new owner of Twitter remains the richest person in the world with assets of 170 billion dollars.

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But his wealth is rapidly diminishing and on November 21 he lost 8.59 billion dollars.

Shares of his company, Tesla, hit a two-year low.

Elon Musk owns 15 percent of Tesla, so his wealth is also affected by the declining stock value.

Tesla is facing difficulties due to the economic downturn, covid-19 restrictions in China and supply chain problems in the United States.

Elon Musk recently bought Twitter for $44 billion and subsequently laid off 60 percent of its staff.

According to experts, the economic recession will prove disastrous for Tesla vehicles and will also affect Elon Musk’s assets.

Well, Elon Musk is so rich that even after losing $100 billion in 11 months, he is still the richest person in the world.

His assets hit a record $340 billion in November last year, meaning his wealth has fallen by nearly 50 percent in a year.

The second richest man in the world, Bernard Arnault, is worth $157 billion and may soon dethrone Elon Musk.

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