As his net worth soared past $300 billion dollars, Musk was crowned the world's richest person.
According to Forbes, over $100 billion of that historic net worth has effectively vanished due to a number of factors. Musk's net worth has decreased by 35 percent over the last year.
We don't get it. Even though he lost $100 billion, Musk is still the richest person in the world. As far as the founder's chaotic personal antics are concerned, that's a lot of money to lose.
If it weren't for Musk's chaotic online presence, he wouldn't be who he is today. His use of social media to speak his mind has contributed to his cultural relevancy and investors and fans have followed.
It did. The new numbers tell a different story, and they may have something to do with Musk's deal to buy the social networking site. One of his outside investors has publicly stated that they want out and that he can't put up the money on his own. The founder may be up for a national security review due to the bungled deal. There's that as well.
The problem for investors is that more stock sales are likely by Musk to fund the deal, which we believe will be one of the worst M&A deals in the history of the market.
His companies have faced a lot of difficulties. Everyone is being hurt by the economy. The CEO joked that due to supply chain troubles, his gigafactories should have sounded like money on fire. Government recall investigations may have had something to do with the money troubles.
We're sure that Musk is happy that he's still richer than Bezos. It's not likely that the world's richest man will change his ways anytime soon, even though he's not that concerned about what those ways might do to his own savings. The jury isn't sure if his investors will trust him with their money.
It has fallen by more than $100 billion in less than a year.
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