Elon Musk Reportedly Becomes The First Person In History To Lose $200 Billion In Net Worth

January 2, 2023 by Tsai-Ann Hill in celebrity finances with 0 Comments

Elon Musk

Elon Musk Reportedly Becomes The First Person In History To Lose $200 Billion In Net Worth

Elon Musk has lost a ton of money!

New reports reveal that Twitter CEO Elon Musk has become the first person in history to lose a lump sum of $200 billion in net worth. This comes as a shock being that two years ago Elon Musk became the second person in history to hit a personal fortune of more than $200 billion.

Elon Musk

According to reports, most of Musk’s lost funds were caused by the decreased value of his shares in Tesla, the electric car company he owns. This year the value dropped 65% and dove 11% last Tuesday (Dec. 27). The 51-year-old’s wealth peaked in November 2021 at $340 billion. However, he’s reportedly now worth $127 billion. He was the richest person in the world until earlier this month, European fashion magnate Bernard Arnault surpassed him.

Elon Musk

On top of his $200 billion loss, Musk faces controversies over his hands-on management on Twitter, which he purchased for $44 billion. The self-described “free speech absolutist” has repeatedly been called out for banning journalists from the platform and firing staff while allowing previously banned neo-Nazis to speak freely on the site.

The public has made it clear that they’re not too fond of Musk, especially when they profusely booed the entrepreneur after he was invited on stage by comedian Dave Chappelle during his show on Dec. 11. As previously reported, at the end of his set at Chase Center, Dave Chappelle said:

“Ladies and gentlemen, make some noise for the richest man in the world.”

A mixture of cheers and boos took place before the boos became louder as Musk appeared on stage, pacing and waving, seemingly unsure of how to react to the negative reaction. The comedian continued: