Elon Musk Loses $13 Billion as Wealth Tumbles Below $200 Billion
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Tesla Billionaire Elon Musk lost $13.3 billion on Wednesday, forcing his net worth to fall below $200 billion, its lowest level since September last year
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Musk who was the only billionaire above the $200 billion threshold is now worth $198.6 billionaire, according to Bloomberg Billionaires Index but he remains the richest person in the world
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The billionaire’s wealth loss was caused by a global stock market crash due to the Ukraine-Russia tensions, which have escalated in the past few days
Nobody in the world has a fortune that exceeds $200 billion. This is after the last man standing, Elon Musk lost $13.3 billion on Wednesday, causing his wealth to plummet to $198.6 billion. Despite this, the 50-year-old Tesla chief remains the richest man in the world, according to Bloomberg Billionaires Index.
Tesla Inc. shares crashed for the 4th straight day, reaching its lowest level since September, owing to a broad decline in the stock market amid the escalation of conflict between Ukraine and Russia. The world’s richest man, Elon Musk has seen $71.7 billion wiped from his fortune in 2022 alone.
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Since the billionaire’s wealth peaked at $340.4 billion in November 2021, he has lost more than 30% of his fortune. It all started when Musk asked his Twitter followers if he should sell part of his stake in the electric-car company to pay taxes. This sparked a sharp decline in the company’s stocks as he completed a series of stock sales worth more than $16 billion.
Elon Musk and Jeff Bezos remain the only two billionaires who have exceeded $200 billion in net worth. Bezos was the first to do it when he crossed the milestone in April 2021. After that, his fortune fluctuated before he finally crashed below it for good in December.
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