Elon Musk lost more money than anyone: the reasons for the collapse

Elon Musk lost more money than anyone: the reasons for the collapse

The CEO of Tesla, SpaceX and Twitter He now has an estimated fortune of $137 billionaccording to him Bloomberg Billionaires Indexand came in second on the list of the world’s richest behind the president of the luxury goods conglomerate LVMH, bernard arnault.

It should be remembered that in November 2021, the net worth of Musk amounted to $340 billion.

Most of the wealth of Musk is linked to Teslawhose shares plummeted no less than a 65% in 2022.

Is that the sales of Tesla they fell as competition in electric vehicles from established automakers increased last year.

Even, the company did not reach its growth objectives and had to reduce production in China.

The company announced a one-off sale to clear stocks late last year, at a discount of $3,750 and then $7,500, but investors fretted over the markdowns and shares tumbled a bit. 37% in December.

On the other hand, the purchase of Twitter by Muskat US$ 44,000 million, did not help the shares of Tesla. In fact, the tycoon, the largest shareholder, sold US $ 23,000 million in shares of the automaker since his interest in Twitter It was made public last April.

His constant tweeting and increasingly erratic behavior, especially after taking over as Twitter CEOupset investors of Teslawho want that Musk pay more attention to your bigger, more valuable company.

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Source: Ambito

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