Elon Musk's Wealth Decreased by more than $77 billion, yet he is the world's richest number-1

Elon Musk the world's richest person: Elon Musk's wealth has decreased by more than $77 billion. Now his wealth is around 193 billion dollars. , yet the world's rich are number-1.

Elon Musk's Wealth Decreased by more than $77 billion

The world's richest man Elon Musk's net worth has fallen below $200 billion after Tesla shares recently hit an 11-month low. According to Teslarati, Musk has lost about $77.6 billion of his net worth so far.

Tesla stock has been under enormous pressure, with shares down nearly 40 percent since the start of the year. As a result, Musk's net worth has declined drastically.

According to the Bloomberg Billionaires Index, Musk has a net worth of $193 billion as of May 25. This means that Musk's wealth has decreased by $77.6 billion since the beginning of this year.

However, Musk is still the richest person in the world by net worth, the report said. His closest rival, Amazon founder Jeff Bezos, is currently listed with a net worth of $128 billion.

Like Musk, Bezos's net worth also saw a decline this year, with a decrease of $64.6 billion.

The world's 50 richest people, including Bill Gates and Mark Zuckerberg, have lost half a trillion dollars in total wealth since the start of the year.

After a nearly 7 percent drop in Tesla's share price on Tuesday, Elon Musk is out of the $200 billion club. On Tuesday, Tesla shares continued to sell-off, causing Elon Musk's net worth to drop 5.40 percent to $192.7 billion, its lowest level since August 26, 2021.

Last time, when Elon Musk's net worth fell below $200 billion. This happened when the market crashed in March 2022. The Tesla co-founder then made up for his losses after a strong return to the markets. After which on April 4, 2022, Elon Musk's net worth increased to $ 288 billion.

The day Musk announced that he had acquired a 9 percent stake in Twitter. Although the Tesla co-founder launched a takeover bid a few days later and eventually won board approval, doubts have grown over the Twitter acquisition amid a tech stock rout that has pulled down shares of both companies. 

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