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Economic & Finance Facts & Comment World's Billionaires World's Richest

Elon Musk becomes the first person in history to lose $200 billion in net worth

Tesla and Twitter CEO Elon Musk has lost $200 billion from his net worth but is still making jokes on Twitter.

After Tesla shares dropped recently, Musk’s wealth dropped to $137 billion, according to Bloomberg.

His electric car company’s shares are down nearly 65 percent.

Musk became the world’s richest person for the first time in January 2021, with a net worth of more than $185 billion.

In November 2021, Musk’s fortune peaked at $340 billion, before plummeting.

The world’s richest man was replaced last month by Bernard Arnault, the CEO of Louis Vuitton’s parent company LVMH.

With Tesla’s $44 billion purchase of Twitter, the CEO’s wealth eroded even further.

Following a follower’s tweet on Monday that Musk “worked hard this year and lost over 200 billion, and this year, you will surpass yourself with even worse decisions,” Musk replied: “Thanks for paying me $8.”.

One follower commented: “If you’ve lost a lot of money in the market, remember that Elon Musk has lost $200 billion and is still making jokes on Twitter.”

A new Twitter CEO is being sought by Musk, who admitted to having too much on his plate.

Tesla has also announced a price drop on several of its models, offering a $7,500 discount on its Model 3 and Model Y vehicles.

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