Canada Global (Web News) Elon Musk has lost $100 billion in 2022. Meanwhile, shares of Tesla Inc also fell to a two-year low.
According to a Bloomberg report, the Tesla co-founder is still the world’s richest businessman with a net worth of $169 (8 billion). Elon Musk’s net worth dropped by $8.6 billion on Monday alone. Elon Musk’s wealth has fallen by $100 billion this year. This is the biggest loss of the world’s richest businessmen. Almost a year ago, Elon Musk’s wealth reached 340 billion dollars.
Electric car maker Elon Musk has lost much of his fortune due to restrictions in China, Tesla’s second largest market after the US. Shares of Tesla fell 8% to $167 in New York trading on Monday. This is the lowest price since November 2020. Tesla shares are down 52% this year. While the Nasdaq 100 index with technology companies has recorded a decline of 29 percent.
51 years old Musk is also quite busy on Twitter these days. It bought the social media network last month for $44 billion. Since Elon Musk bought Twitter, he has fired 60 percent of its employees. Investors are now questioning whether billionaire entrepreneur Elon Musk is too wrapped up in his many high-profile projects or whether Tesla is devoting all of his time and attention to Tesla.