100 billion dollar: thats how much world's richest Elon Musk has lost as the shares of Tesla dropped to the lowest level in two years.
According to the Bloomberg Billionaires Index, Tesla's chief executive officer (CEO) Elon Musk's wealth has declined over 37% or $101 billion in value in 2022, losing about ₹2,500 crore a day. His total wealth stands at $170 billion as of November 22, 2022.
The shrinking of his wealth over the past 12 months can primarily be attributed to his controversial US$44 billion acquisition of Twitter Inc, which turned out to be anything but smooth.
Also, Tesla recently said it is recalling more than 321,000 vehicles in the US because the tail lights may intermittently fail to illuminate, which led the stock to fall 6.84% to US$167.87, a far cry from its record high of US$409.97 in November 2021.