Elon Musk Net Worth: SpaceX CEO loses over $200 billion.

Image Source: Wikipedia

Love him or hate him, but you can’t ignore Elon Musk and keep him away from the headlines. Musk’s admirers say that he is a genius while his critics find him full of himself.

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Musk has seen his net worth deep dive by almost $200 billion in the last year, which is a world record in itself. His current net worth is estimated around $140 billion dollars.

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Musk’s total net worth was estimated to be $340 billion in November 2021. However, the French business tycoon Bernard Arnault now holds the top spot by a margin of almost $50 billion dollars.

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So what exactly happened? How did Elon Musk lose so much wealth?

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The major reason behind this fall is the 65% decline in Tesla’s share price, in which he owns 13% equity. This fall in price is due to Tesla’s decreasing market share as rival companies are coming with new and exciting EV offerings.

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The future will only tell if Elon Musk will find the path to regain his top spot in the coming years.

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