Elon Musk Becomes First Person Ever To Lose $200 Billion

TL;DR

Elon Musk was the second person ever to amass a personal fortune of more than $200 billion, breaching that threshold in January 2021, months after Jeff Bezos.His fortune peaked at $340 billion on Nov. 4, 2021, and he remained the world's richest person until he was overtaken this month by Bernard Arnault, the French tycoon behind luxury-goods powerhouse LVMH.He's applied a move-fast-and-break-things approach such as firing staff then asking them to come back and applying content policies haphazardly to justify banning the accounts of some prominent journalists who cover him.The decline in Tesla shares has been so steep - the shares fell 65% in 2022 -and Musk has sold so much this year to help cover his Twitter purchase, that they're no longer his biggest asset, according to Bloomberg's wealth index.The billionaire, who has previously borrowed extensively against his stake in Tesla, has though also recently warned against the dangers of borrowed money in panicky markets."

Like summarized versions? Support us on Patreon!