Elon Musk is still the world’s richest person with a fortune of $US170 billion, even after seeing his net worth shrink by $US8.6 billion on Monday.
Elon Musk’s losses for 2022 have topped $US100 billion as shares of Tesla dropped to the lowest level in two years.
, even after seeing his net worth shrink by $US8.6 billion on Monday. He’s down $US101 billion this year — the most of anyone on the wealth index — after peaking at $US340 billion a little more than a year ago.It’s been an expensive year so far for Elon Musk.The electric-car maker comprises the bulk of his fortune and is struggling with burgeoning COVID-related restrictions in China, its largest market outside of the US.
Tesla shares dropped 6.8 per cent to $US167.87 in New York trading on Monday — the lowest since November 2020 — and are down 52 per cent this year. That compares with a 29 per cent decline in the tech-heavy Nasdaq 100 Index.Musk, 51, has also been preoccupied with Twitter, the social-media network he acquired last month for $US44 billion. The company has lost about 60 per cent of its workforce since Musk took over, with the latest round of layoffs coming on Sunday.
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