Billionaire, Elon Musk, who was once the richest person on earth, has set a new record by becoming the first person in history to lose $200 billion.
The Tesla entrepreneur and Twitter CEO had his net worth drop by $200 billion, according to the Bloomberg Billionaire’s Index.
As a result of the last week’s loss in Tesla stock, it was reported that Musk’s net worth had fallen to $137 billion. This includes Tesla’s shares, which fell sharply by 11% on December 27.
For its two most popular models, Tesla is now giving American customers a $7,500 discount.
In November 2021, as you may recall, Musk’s net worth peaked at $340 billion.
He became the richest man in the world as a result, and he maintained that position for more than a year.
Bernard Arnault, the French business tycoon and co-founder of luxury goods giant LVMH, overtook the Twitter owner this month.