Elon Musk becomes the biggest loser in history… Why?

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These last few months have not been easy for Elon Musk. Although he is still one of the richest men in the world, the truth is that he has lost enough money to start worrying. And, on the other hand, things are not going according to his plans. Musk fought very hard to buy Twitter and now he is paying the consequences. Apart from the 45,000 million dollars that he had to invest to acquire the social network, a new report maintains that Elon Musk is the first person in the history of humanity to lose 200,000 million dollars of net worth. A massive, multi-billion dollar loss in a matter of months Elon Musk has been the second person in history to surpass a $200 billion fortune, but now the tortilla has been turned around. The first great billionaire was Jeff Bezos, owner of Amazon. Now Musk is enjoying a far more bitter achievement: He is the first to lose $200 billion in net worth. The losses directly affect Tesla, which has been one of his most successful companies. The plunge in Tesla shares, including the latest 11% drop, sent Elon Musk’s fortune plummeting to $137 billion. This is a massive drop, if we consider that his fortune reached the $340 billion mark on November 4, 2021. He was still the richest man in the world… Until December. Now, the richest man in the world is no longer Elon Musk, but the Frenchman Bernard Arnault. The market governed by Tesla has become very competitive Tesla’s decline is truly remarkable. The company marked a milestone in 2021 by joining the trillion dollar group of companies. The list features brands like Apple, Microsoft, Amazon and Alphabet. That was an incredible record for a brand that has only a small slice of the auto market. However, last year Tesla experienced a 69% decline while Elon Musk focused his efforts on Twitter. Tesla is seeing its rivals catch up in the electric field. Recently, Renault stood up to the Tesla Semi. Similarly, other car manufacturers have very ambitious plans for the electric range. In an effort to keep its customers, Tesla is offering a $7,500 discount to expedite deliveries of its two best-selling models. The company is also reducing production at its Shanghai factory. It remains to be seen if Elon Musk will take a different stance to return Tesla to his previous state or continue to feud with Twitter users and tweak the social network at will without any real need. The latest rumors even point to his retirement as CEO of Tesla. >

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Brian Adam
Professional Blogger, V logger, traveler and explorer of new horizons.