Elon Musk’s net worth falls to two-year low to $147.7 bn

Tesla CEO Elon Musk’s net worth has fallen to a two-year low of $147.7 billion, according to the Bloomberg Billionaires Index. On Tuesday, Musk’s net worth plummeted by $7.7 billion after Tesla shares experienced their steepest one-day loss in more than two months, falling by 8.12%.

This recent drop in Musk’s net worth follows his loss of the title of the world’s richest person to LVMH CEO Bernard Arnault on December 13. Musk had briefly held the top spot on the Bloomberg Billionaires Index earlier this year, but his net worth has been on a downward trend in recent months.

The decline in Tesla’s share price has been attributed to a variety of factors, including concerns about the sustainability of the company’s recent growth and the impact of rising interest rates on its valuation. However, Tesla has remained a popular stock among investors, with the company’s market capitalization still hovering around $600 billion.

Despite the recent dip in his net worth, Musk remains one of the wealthiest and most influential figures in the business world. In addition to his role as CEO of Tesla, he is also the founder of SpaceX and Neuralink, and has made significant contributions to the fields of electric vehicles and space exploration.

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