Elon Musk’s fortune is down US$100 billion


Elon Musk | Image source: CARINA JOHANSEN/NTB/AFP via Getty Images

In November last year, Tesla CEO Elon Musk became the first person in history to obtain a US$300 billion fortune.

A lot has happened since then. He’s on the verge of buying Twitter after months of back-and-forth and reportedly plans to lay off 75% of its staff if the deal goes through. He had secret twins with one of his employees and was rumoured to be having an affair with Nicole Shanahan, the soon-to-be ex-wife of Google cofounder Sergey Brin. (Musk denied the affair.)

He also lost more than US$100 billion.

From its peak on November 4, 2021, Musk’s fortune has fallen nearly 35%, from US$320.3 billion to $209.4 billion as of close of market Thursday–almost entirely due to a sharp drop in the price of Tesla stock. This month alone, Musk’s fortune is down US$28 billion. In quarterly earnings reported on Wednesday, the electric carmaker’s revenue still fell short of some analyst expectations. Add in worries about a possible recession, and investors are spooked.

This article was first published on forbes.com