Elon Musk's net worth decreased by $100 billion this year.



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Elon Musk's net worth decreased by $100 billion this year.

The richest man in the world, the founder of Tesla, Elon Musk, lost more than 100 billion dollars this year... According to reports, this unpleasant number was due to the lowest drop in Tesla shares in the past two years.

Fortunately for him, he has maintained his leading position on the list of the richest with a fortune estimated at $169.8 billion, despite a twelve-figure loss. A man who ended last year with a fortune of 340 billion can certainly afford such losses and maintain his leading position.

Tesla shares fell 6.8% to $167.87 on the New York Stock Exchange, which is their lowest value since November 2020 - overall, this year they are down 52% on the stock market, or 29% on the Nasdaq 100 index. Apparently, the SpaceX CEO will have to shift his focus from Twitter to the Tesla brand.

We all already know that this company is struggling with problems in the supply chain and jumps in the prices of raw materials. Relatively recently, the Tesla brand had to recall more than 300,000 cars due to faulty headlights.

By all accounts, the situation is not great even in Twitter, which Musk almost bought for $44 billion, with as many as 60% of the fired staff and many workers resigning rather than kneeling down and swearing allegiance to the famous billionaire.

They were asked to commit to a "hardened" work routine in order to keep the platform growing, which would mean more overtime hours for them than usual. In addition, Musk decided to suspend support for schooling, daycare, team activities, and numerous other benefits, which definitely did not help him retain workers.

Musk on building his wealth

"I built these two companies and it was extremely difficult to build them," Musk said. "Rewarding, too, but massively difficult ... and I didn't sell the stock in the companies." He added, "My sort of impression was that you shouldn't take money off the table — or stock off the table — that a captain should go down with their ship." "I don't have any offshore accounts; I don't have any tax shelters," Musk told Babylon Bee.

"I basically have Tesla and SpaceX stock ... everything is extremely transparent." Considering the gloomy situation in both companies, we believe that very soon there will be big changes in the list of the richest people in the world.