Elon Musk lost $123 billion this year as Tesla stock plummeted. But he still has a lot of money left
Elon Musk’s fortune continues to suffer a week after losing his place as the world’s richest person.
His net worth plunged $7.7 billion on Tuesday after Tesla shares suffered their biggest one-day loss since October.
The sell-off adds to the woes of Musk, who lost his status as the world’s richest person to luxury magnate Bernard Arnault on December 13. Musk’s losses for the year now total $122.6 billion, exceeding the amount he won in 2021 when his fortunes skyrocketed, among the largest in history. The Tesla CEO’s net worth is now $147.7 billion, the lowest in more than two years, according to the Bloomberg Billionaires Index.
Musk’s net worth consists primarily of Tesla stocks and options. The automaker’s soaring shares pose a particular risk for Musk, 51, who used more of his position to fund his October acquisition of Twitter.
Tesla shareholders have expressed increasing concern over Musk’s involvement with Twitter, which he’s trying to lead through a chaotic and public about-face. He posted a poll on Twitter asking users to vote on whether he should step down as head of the social platform. Almost 58% of the 17.5 million respondents said it should.
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