Bloomberg: Musk’s Net Worth Has Dropped By Half

November 8, 2022 Business, Social Media

Bloomberg News reports:

While Elon Musk tinkers with newly acquired Twitter, his net worth has dropped by almost half from last year’s peak.

Shares of Tesla Inc., the electric car maker that comprises the bulk of his fortune, traded as low as $186.75 intraday Tuesday as investors question whether the billionaire is spreading himself too thin among his many high-profile ventures. Tesla is down 45% this year.

Musk has shaved about $92 billion off his fortune this year — the most of anyone tracked by the Bloomberg Billionaires Index — and is now worth $177 billion. Though still the world’s richest person, his wealth reached a peak of $340 billion just a year ago as Tesla’s share price hit a record of $410.

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