A new report by Forbes looks at how Elon Musk lost over $100 billion in less than one year.
Musk lost approximately 35% of the $320.3 billion fortune he held as of November 4th of last year, mostly due to the fall in price of the Tesla stock he holds. The report added that he has lost $28 billion this month alone.
Matt Maley, chief market strategist at investment consultancy Miller Tabak + Co. said, “He sells high priced cars, so a recession will not be good for his business.”
Tesla investors have been less than enthused about Musk’s quest to purchase Twitter, and offload large chunks of his Tesla holdings to do that, viewing it as an irresponsible distraction which hurts Tesla’s stock price.
However, even after loosing $100 million, Musk remains the wealthiest man in the world.
