Elon Musk is $100 billion poorer than last year

Elon Musk is $100 billion poorer than last year

Tesla founder Elon Musk has suffered major losses since last year. The new Twitter chief lost nearly $100 billion.

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The basics in brief

  • Elon Musk lost nearly $92 billion of his fortune last year.
  • The main reason is the massive drop in the value of Tesla shares.

Businessman Elon Musk, 51, has come under special pressure since taking over the SMS service Twitter. Financially, things haven’t been particularly good for the world’s richest person either: He’s lost about $92 billion since 2021, according to Bloomberg.

Accordingly, shares of Musk’s other Tesla subsidiary were trading at just $186.75 on Tuesday. Shares in the automaker make up the bulk of his fortune. The electric car company’s investors expressed concerns after the Twitter acquisition. That’s why, according to Tesla, there was a loss in value.

As a result, Musk currently owns $177 billion. His fortune peaked at $340 billion last year. At the time, Tesla shares were trading at a record high of $410. However, his current net worth has no bearing on his title as the world’s richest person, as reported by Bloomberg.

A lot has changed since taking over Twitter

At the end of October, Musk bought the SMS service Twitter for $44 billion. Next, keep thinking of different ways to generate revenue for the company. For example, there were subscription fees for most or all users, as reported by The Verge. It is also said that the payment barrier has been discussed at the platform level.

Musk’s Twitter Blue subscription service is set to launch for 8 months, soon. This should enable every Twitter user to easily get a blue tick. This was previously intended to verify government accounts and known personalities.

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