Musk’s fortune peaked last November at just over $320 billion,But Forbes estimated this week that his net worth is now about $209 billion, down about $110 billion in 11 and a half months.Musk’s fortune is largely concentrated in his Tesla stock holdings.
Tesla shares have fallen 46 percent since January, closing at $214 on Friday with a market value of $672 billion. Tesla hit the $1 trillion mark in October last year. Musk now owns 155 million Tesla shares, or just under 15%, after selling some Tesla shares earlier this year.
Elon Musk’s wealth evaporates by $110 billion in 11 1/2 months
Tesla shares began to tumble after Musk announced plans to buy Twitter in April.His wealth dipped from $302 billion in April to $216 billion in June, but recovered to $279 billion in August. Since then, his net worth has slowly declined as he struggled to get out of the Twitter deal.
In doing so, Musk’s personal wealth has fallen by 35% in less than a year, by $28 billion this month alone.But he is still the richest man in the world.He still has $80 billion more wealth than Bill Gates and $71 billion more than Jeff Bezos.