Elon Musk Becomes the First Person in History to Lose $200 Billion

Elon Musk has created history of sorts by becoming the first ever person to lose a whopping $200 billion as Tesla shares have hit rockbottom and has wiped out billions of dollars, due to which there is a huge crisis looming over the automotive giant.

This is after the Twitter CEO became the second person ever to amass a jaw dropping fortune of more than $200 billion in January 2021, which is mere months after Jeff Bezos did the same.

Highlights

• Twitter’s new chief, Elon Musk, has lost close to $200 billion.
• He has become the first person in the history to lose the whopping amount,
• Tesla’s shares declined after Musk acquired Twitter in a $44 billion deal.

Elon Musk is the First Person to Lose $200 billion as Tesla Shares Plummet

Elon Musk has been constantly springing up in discussions in the past few months ever since he took over as the new CEO of Twitter and drastically changing the landscape of social media altogether.

Recently, he became the second ever person to amass more than a $200 billion personal fortune in January 2021, after Jeff Bezos, Amazon president, and therefore became one of the richest persons on the planet.

However, the Tesla/Twitter CEO too has created a history of sorts, although not one that he should be proud of as he has lost more than $200 billion from Tesla’s net worth as the company’s shares have plummeted like anything, with little chance of recovery.

The huge loss has brought down Elon Musk’s net worth to $137 billion after Tesla saw its shares fall abysmally low in the past few weeks, which includes a massive 11% drop on December 27, 2022.

In 2022 itself, Musk had topped the Forbes’ annual list of billionaires for the very first time after ousting Jeff Bezos, while his fortunes’ skyrocketed to $340 billion in November 2021 and sometime later, ranked 31^st in the Forbes list of, as the stock shares in Tesla were at $72.24.

To add to his woes, Musk is also facing international scrutiny for his hands-on management at Twitter headquarters where he has completely changed the work culture by firstly firing 11,000 employees soon after taking over, suspended journalists who cover his companies and write against him, no longer regulates the misinformation being spread on Covid-19.

Musk did not stop there as he has recently fired janitors at the headquarters in San Francisco while in parallel, Tesla is offering American buyers a discount of $7,500 on some of its models and reduced production in Shanghai.

Elon Musk Accused of Seat-of-the-Pants Decision Making by Bill Gates