A capricious billionaire has seen a part of his wealth disappear. Since the beginning of the year, Elon Musk has lost $100 billion, which is almost equivalent to the valuation of Airbus ($92 billion) or even General Electric’s $95 billion.
The South African’s wealth is largely based on shares in his electric car brand, Tesla. They hit a two-year low of $167.87, having lost 52% of their value since January 2022. On Monday alone, Elon Musk thus lost $8.6 billion, according to the rating. Bloomberg billionaires.
The Twitter acquisition also partially explains this decrease. In order to carry out this operation, Elon Musk had to sell billions of dollars worth of Tesla shares, thus cutting off some of his savings. A little more than a year ago, his fortune still reached 340 billion dollars. But there’s nothing to worry about, because the entrepreneur remains the richest person in the world with $169.8 billion, according to Bloomberg.
This decline is also affecting other Silicon Valley personalities such as Jeff Bezos. Amazon’s founder and CEO lost $83 billion, putting his net worth at $109 billion. The same goes for Meta Group CEO Mark Zuckerberg’s net worth, which has been reduced by $80 billion in 2022. According to Bloomberg, this is explained by the decline in the shares of each of the companies.due to slowing sales, rising costs and rising interest rates“.
Source: Le Figaro
I am Ben Stock, a passionate and experienced digital journalist working in the news industry. At the Buna Times, I write articles covering technology developments and related topics. I strive to provide reliable information that my readers can trust. My research skills are top-notch, as well as my ability to craft engaging stories on timely topics with clarity and accuracy.