According to Elon Musk’s latest estimates, Elon Musk’s net worth has dropped by billions of dollars to $193 billion. Bloomberg’s Billionaires Index. The index is a daily ranking of the richest people in the world, updated at the end of each trading day in New York. This is the first time since June that the Tesla CEO has seen his fortune fall below $200 billion. Musk, the richest person in the world, owns 13% of Tesla and gets most of his wealth from the car company.
Bloomberg’s Billionaire Index report states that Musk has lost $41 billion since Tesla’s Oct. 18 earnings call. According to the report, Musk’s revenue was $234 billion before the company’s disappointing third-quarter results CBS News.
However, Forbes has put his net worth slightly higher at $213.8 billion.
Not just Tesla, Mr Musk also founded SpaceX and the Boring Company and has interests in them that also contribute to his net worth.
According to Insider, Tesla’s share price fell 10 percent after the earnings results. Tesla shares closed 4.8% lower at $197.36 on Monday, down 21% so far this month. Although the stock is up 60% so far this year.
Musk’s net worth has seen several fluctuations over the years. In November 2021, it peaked at $340 billion.
Bernard Arnault, the boss of luxury retail giant LVMH Moet Hennessy Louis Vuitton, remains the second richest man in the world with a net worth of $156 billion.
In December last year, Arnault surpassed Twitter owner Elon Musk on the Bloomberg Billionaires Index.
The 73-year-old has long been a mainstay on the wealth rankings but, unlike Musk and other brash billionaires, rarely makes public appearances and is not personally active on social media. Although LVMH Moet Hennessy Louis Vuitton SE exudes extravagance, with 75 labels ranging from Dom Perignon to Christian Dior to Tiffany & Co., he sought a low profile in a country where bling-bling displays of wealth are frowned upon.