Elon Musk has lost $132Billion in 2022 following Tesla’s 68% fall. However, that still makes him 2nd most valuable person in the world.

Tesla CEO Elon Musk.Justin Sullivan/Getty Images
Elon Musk has seen his net worth plummet by more than $130 Billion as Tesla’s stock continues to fall. Investors fear Musk may be spreading his wealth too thinly among his various business ventures.

According to Bloomberg Billionaires Index, Elon Musk’s net worth has been wiped out by the collapse of Tesla stock.

Based on data from December 23, Musk is still the second-richest person in the world, with a fortune of $139 billion.

However, the wealth loss is only going to get worse due to Tuesday’s Tesla stock trading session. The close to 10% sell-off will take an estimated $7 billion to 8 billion off Musk’s net worth. This would mean that Musk’s total wealth loss for the year to date is approximately $140 billion.

Bernard Arnault (co-founder and CEO at LVMH) is $20 billion more wealthy than Musk, and has reclaimed his title as the world’s wealthiest person. Gautam Adani, an Indian businessman, ranks third on the billionaires index at $110 billion.

Musk’s net worth reached a peak of just over $300 billion in the earlier part of this year. However, a 68% decline in Tesla stock over the past year has erased a significant portion of that. This is because more investors are becoming concerned about Musk’s commitment to running Tesla while also managing his other businesses.

Tesla shares have fallen 50% since Musk’s $44 billion acquisition in October. This compares to a 3% drop for the Nasdaq 100. To finance his purchase of Twitter, Musk also sold billions in Tesla stock.

Tesla stock is also being affected by rising concerns about an economic recession in 2023. This would likely impact the company’s sales growth and make Tesla stocks less attractive to investors.

Bloomberg reports that Musk’s SpaceX equity stake, valued at $47 billion, is his most valuable asset. Bloomberg reports that Musk’s Tesla stake has a value of $40 billion and his options in Tesla have a value of $28 billion.

Twitter is the next most valuable asset Musk owns. Bloomberg estimates that it is worth $20 Billion, or about half of Musk’s purchase price. Musk stated in October that he and other investors were clearly overpaying for Twitter.

Bloomberg finally assigned Musk’s stake at The Boring Company a value of $3.3 billion.

Although Musk’s net worth has been reduced by the most significant part of the stock decline, the company has made fortunes for those who have placed bets against it. S3 reports that Tesla is the most profitable short seller of 2022 with mark-to-market profits in excess of $15 billion.

Business Insider has the original article.
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By: mfox@businessinsider.com (Matthew Fox)
Title: Elon Musk has lost $132 billion in 2022 after Tesla’s 68% crash – but that still makes him the world’s 2nd richest person
Sourced From: markets.businessinsider.com/news/stocks/elon-musk-net-worth-richest-person-tesla-stock-price-decline-2022-12
Published Date: Tue, 27 Dec 2022 19:21:33 +0000