Elon Musk

Billionaire Elon Musk, formerly the richest man in the world, has broken a new record. The Tesla founder and Twitter owner has become the first person in ...

Musk was stripped of his title as The World’s Richest Man earlier this month — with the baton being handed over to Bernard Arnault, the French chairman and CEO of LVMH. Musk lost his title as the richest man in the world earlier this month. 2021 at $340 billion, has seen his wealth plunge to $137 million as Tesla shares have plummeted 65% in the past year.

If you have lost money in shares recently, read this. Tesla and Twitter CEO Elon Musk has become the first person ever to lose $200 billion from his net ...

Musk had admitted to having too much on his plate, and is finding a new Twitter CEO. Another follower posted: "If you're having a bad year because you lost a lot of money in the market, remember that Elon Musk has lost $200 billion and is still making jokes on Twitter." Tesla and Twitter CEO Elon Musk has become the first person ever to lose $200 billion from his net worth, and is still making jokes on the micro-blogging platform.

Twitter's new owner was the world's wealthiest person in 2022. Tanking values in his Tesla shares has wiped out billions.

“Tesla is executing better than ever!” he wrote on Twitter last month. That value dropped 65 per cent in 2022, [$7,500 discount](/news/tesla-ap-elon-musk-detroit-texas-b2250314.html) on some of its models, and the company is reportedly [reducing production](/tech/tesla-stock-price-elon-musk-b2253647.html) at its Shanghai facility. [fired ](/tech/elon-musk-twitter-tweet-hardcore-staff-b2226187.html)hundreds of employees, [suspended journalists](/tech/elon-musk-jouranlists-suspended-free-speech-b2247013.html) who cover his companies, [stopped regulating](/news/world/americas/us-politics/elon-musk-fauci-twitter-prosecute-b2243160.html) the spread of Covid-19 disinformation, and [allowed neo-Nazi users](/news/world/americas/elon-musk-twitter-suspended-accounts-b2239851.html) and other previously banned accounts to return. The decline in Tesla shares has been so steep, and Mr Musk has sold so much to help cover his exorbitant $44bn Twitter purchase, that Tesla is no longer his biggest asset, according to Bloomberg. [Elon Musk](/topic/elon-musk) is now the first-ever person to lose it.

Tesla owner and Twitter boss Elon Musk has now lost his spot as the world's richest man to French businessman Bernard Arnault.

“About half my money is intended to help problems on Earth and half to help establish a self-sustaining city on Mars to ensure the continuation of life (or all species) in case Earth gets hit by a meteor like the dinosaurs or WW3 happens and we destroy ourselves.” In a recent email to staff Mr Musk said that he believed Tesla will become “the most valuable company on Earth” in the long-term. Mr Musk replied to the popular author “[W]e need to pay the bills somehow!

The Tesla CEO has seen his wealth tumble in recent weeks after shares of the electric car maker tumbled.

[Sensex](https://economictimes.indiatimes.com/indices/sensex_30_companies)and [Nifty](https://economictimes.indiatimes.com/indices/nifty_50_companies)Track [latest market news](https://economictimes.indiatimes.com/markets/stocks), [stock tips](https://economictimes.indiatimes.com/markets/stocks/recos)and [expert advice](https://economictimes.indiatimes.com/markets/expert-view)on [ETMarkets](https://economictimes.indiatimes.com/markets). "You can get some pretty extreme things happening in a down market." Musk's stake in his closely held Space Exploration Technologies Corp., at $44.8 billion, exceeds his approximately $44 billion position in Tesla stock (he still has options worth an estimated $27.8 billion). That is the real problem here." For fastest news alerts on financial markets, investment strategies and stocks alerts, [subscribe to our Telegram feeds](https://t.me/joinchat/J60pKE7SOStsj5sI8nDmHQ).) Musk now owns 42.2% of SpaceX, according to a recent filing. "Tesla is executing better than ever!" and Google parent Alphabet Inc., even though its electric vehicles represented only a sliver of the overall auto market. "We don't control the Federal Reserve. It's offering US consumers a rare $7,500 discount to take delivery of its two highest-volume models before year-end, while also reportedly reducing production at its Shanghai plant. His fortune peaked at $340 billion on Nov. Musk, 51, has seen his wealth plummet to $137 billion after Tesla shares tumbled in recent weeks, including an 11% drop on Tuesday, according to the Bloomberg Billionaires Index.