Elon Musk has lost more net worth than anyone in history
Tesla saw its stock price drop by roughly two-thirds in 2022.
The Facts Inside Our Reporter’s Notebook
Amid falling Tesla share prices and his tumultuous takeover of Twitter, Elon Musk has become the first man in history to lose $200 billion.
Now the second richest man in the world with an estimated net worth of $137 billion, Musk's fortune has fallen far since its November 2021 high of $340 billion when he sat at the top of the world's richest list, according to CNN.
Musk announced in April 2022 that he had negotiated a bid to purchase social media platform Twitter for $44 billion and, despite some legal bickering, ultimately followed through. His management of the platform, however, has received mixed reviews as his rollout of controversial new features and rollback of the platform's censorship policies has drawn scrutiny.
Some of that market skepticism has translated to his electric vehicle firm, Tesla, which saw its stock price drop by roughly two-thirds in 2022. Musk sold billions in Tesla stock to finance the $21 billion that he personally put up for the purchase of Twitter.
Much of his personal wealth remains in Tesla stock, and the electric vehicle mogul still owned at least 14% of the company as of November 2022. Much of his loss in personal wealth has come from the decline in Tesla share prices.
The company's total worth at the end of 2022 stood at $386 billion, per CNN.
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