Also, Elon Musk acquired Twitter with 9.2% which made investors question his commitment to Tesla and the lack of confidence caused the shares to fall. Musk sold $8.4 billion worth of Tesla stock to fund his $44 billion takeover bid.
The case of Bill Gates is different: he has a more diversified portfolio which helped to amortize the losses. The Bill and Melinda Gates Foundation, the philanthropic organization he created with his ex-wife, invests in Warren Buffet’s Berkshire Hathaway, which is up more than 5% this year.
But other investments, including his company Cascade Investments, which invests in tech companies like Apple, have had a rougher ride. Tech stocks have corrected sharply in recent months on inflationary pressures and falling consumer confidence.
Jeff Bezos, the founder of Amazon, still owns about 50 million shares of the company worth about $115 billion. The stock is down almost a third this year but is still worth nearly $1.2 trillion, far more than Tesla’s $786 billion valuation.
Elon Musk, the most affected
The recent crashes in the stock market of Tesla and Twitter have caused the fortune of Elon Musk, the richest person in the world, to fall below the barrier of 200,000 million dollars, according to the latest estimates from the Forbes billionaires list.
This is the first time in several months that the businessman’s fortune falls below 200,000 million dollars, an exclusive club that only he and the founder of Amazon, Jeff Bezos, have been part of and that right now has been left without members.
Musk’s fortune peaked last November at about $340 billion thanks to a record Tesla stock price, which then fell sharply, in part as a result of its chief executive’s decision to divest a major company. participation in the company.
Source: Ambito
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