Tesla and Twitter CEO Elon Musk’s fortune has fallen to a two-year low, losing more this year than he made in 2021.
On Tuesday, his fortune fell by $7.7 billion after the share price of Tesla Inc. fell to its highest since October 2022. The businessman’s situation was further aggravated by the fact that on December 13, Elon Musk lost the status of the richest man in the world to LVMH owner Bernard Arnault.
In 2022, Musk’s capital has shrunk by $122.6 billion. According to the Bloomberg Billionaires Index, Tesla’s net worth is $147.7 billion, the lowest in two years.
The businessman’s fortune is mostly Tesla stock and options. The rising auto company stock poses a particular risk to Musk, who used much of his capital to buy Twitter in October of this year.