Tesla and SpaceX CEO Elon Musk continues to be on the agenda. One of the most remarkable things Musk has is his wealth. However, Musk has lost more than $110 billion of his fortune this year with the sharp drop in Tesla’s share price.
IT HAS INCREASED TO 320 BILLION DOLLARS! NOW IS…
According to the report of Business Insider, Musk’s wealth peaked in November last year, reaching just over $320 billion. However, Forbes estimates Musk’s net worth, which is largely tied to Tesla shares, is currently around $214 billion.
Tesla has lost 46% of its value since January. The company’s share price closed at $214 on Friday. The company’s market value was $672 billion. However, the company’s value reached a trillion dollars in October last year.
HIS WEALTH SHRED BY 35 PERCENT BUT HE DID NOT LEFT
According to the news, the fortune of the Tesla and SpaceX CEO has melted by 35 percent in less than a year. In fact, Musk lost $28 billion this month alone, but that didn’t dethrone him. He is still the richest person in the world. Despite the decline Elon Musk experienced, Musk managed to surpass Bill Gates and Jeff Bezos with his wealth.
Elon Musk sold $31 billion of shares in Tesla last year to help pay off the $44 billion Twitter deal. Forbes included $31 billion in net worth, excluding taxes, as the deal is yet to be finalized.
TWITTER EFFECT! INCREASED TO 302 BILLION DOLLARS IN APRIL
Tesla shares exploded after announcing its plan to buy Twitter in April. Elon Musk’s fortune, which was $302 billion in April, fell to $216 billion in June, but rose to $279 billion in August.
His net worth slowly dwindled as Elon Musk battled to end his Twitter deal.
Musk has set up a $12.5 billion loan, but he still needs billions to complete it. He is seeking help from investors and may need to sell his Tesla shares next week.