The world’s richest person, Elon Musk, saw his wealth fall $100.5 billion in 2022.
Despite the hit coming as a result of Tesla’s plummeting stock market shares, Musk is still the world’s richest person with a fortune of $169.8 billion, according to Bloomberg.
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As the CEO of Tesla and SpaceX, Musk’s wealth peaked at $340 billion last year but fell to its lowest point in 2022.
Following a series of recent Tesla recalls, the electric vehicle maker saw its shares hit a two-year low on Monday, dropping about 58.03% year to date, causing Musk to lose $8.6 billion in just one day.
Musk’s wealth largely comes from the stocks of his companies, which now include Twitter.
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Despite the recent losses, Musk beat out Moet Hennessy Louis Vuitton Chairman Bernard Arnault by about $13 billion to stay atop the Bloomberg Billionaires Index. Musk also tops Amazon founder Jeff Bezos by roughly $54 billion and Microsoft co-founder Bill Gates by about $57 billion.
