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Monday, February 6, 2023

Elon Musk Faces Loss of $20 Billion for the First Time in History

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Bloomberg News says that Tesla and Twitter founder Elon Musk will be the first person in the history of the world to lose $20 billion.

In Indian rupees, Elon Musk is going to lose Rs 16.55 lakh crore. In 2021, Elon Musk net worth went up to more than $200 million, making him the second person to have a net worth of more than $200 million. Jeff Bezos, who started Amazon, was at the top.

But Elon Musk beat everyone by increasing his wealth to 34,000 crores in November 2021. Musk took the top spot by beating French billionaire Bernard Arnold.

But since Twitter bought the company and Tesla’s stock dropped in value over the past few weeks, the Elan Max is now only worth $13.7 billion. On the 27th, shares of Tesla fell by 11%.

So, Tesla has offered to cut the price of its high-end cars by $7,500. Elon Musk has also stopped making Tesla cars in China. Rates on 8 small savings plans are going up! 

Last October, Elon Musk spent $4.4 billion to buy Twitter. Elon Musk sold a lot of his Tesla stock on the market so he could buy Twitter. Most of Elon Musk’s wealth was lost because of this.

Aside from this, the price of Tesla shares has been going down for the past few weeks, which has made Elon Musk’s net worth go down. So, Elon Musk, who was at the top of the list of billionaires in the world, fell to the second spot. Bloomberg says that Elon Musk is the first person to lose the most money, which is 20 thousand crores.


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